ATPCO new technology to calculate airfare prices patented

KUALA LUMPUR, Aug 13 (Bernama) -- New technology has been introduced to calculate airfare prices – making it easier to change elements of a ticket price  – giving airlines new and more efficient ways to manage price points.

 ATPCO has been awarded Patent #10,032,195 by the United States Patent and Trademark Office to cover new technology that permits a unique approach to calculate airfare prices that was not previously available.

Developed by ATPCO’s data scientists and technical architects, the technology enables construction of airline ticket prices using graph database and ‘functional programming’ techniques, a statement said.

The pricing approach covered by the patent enables ATPCO to generate all published prices globally, in real time, independent of availability. This will give carriers and airline channel partners a total view of all prices that make up a market.

“This approach maintains all the links to the original data components that make up a total airline ticket price. Therefore, we can deconstruct a price into all its components once it’s generated, as well as identify all the rule provisions that made the price eligible. This has tremendous advantages for the pricing and audit capabilities that we are pursuing,” said Vice President of Technology at ATPCO, John Murphy.

Unlike traditional pricing engines used today to sell tickets that focus on calculating the lowest or best fare in the marketplace, ATPCO’s approach was engineered to support airline revenue management and pricing departments that manage all the various price points an airline wants to offer.

Through the speed and scalability of the approach, millions of pricing responses can be processed and generated in real time without losing the context of the data that created those prices in the first place.

Uniquely positioned at the center of the airline distribution ecosystem, ATPCO hold more than 189.6 million fares for 439 airlines in 160 countries and manage an average of 5.3 million daily fare changes. More details on https://www.atpco.net