Another new service promising to find corporate travellers better deals for their flying has entered the market.
Fairfly, backed by Waze founder Uri Levine and founded in 2013, has launched an automated airfare tracking and rebooking system for corporations and TMCs.
The technology continues to shop for airfares for identical and similar flight options to those already booked and automatically books an alternative if a saving is identified.
Fairfly claims to achieve average savings of $254 per ticket on 26% of tickets processed after taking account of cancellation fees, private fares and corporate travel policies.
The firm points to the natural volatility in airline seat pricing to explain its model saying on a single flight they change 90 times on average right up to the point of departure.
It claims that corporates are leaving a potential $19 billion of saving on the table by not exploiting automated fare tracking and rebooking.
FairFly integrates with GDSs [currently only Sabre] to track prices. Rebookings can be set to happen automatically or the corporate can arrange to be alerted by email or text message.
Aviel Siman-Tov, Fairfly co-founder and chief executive, said: “FairFly’s ability to search for similar flights, with small changes in departure time, airline, cabin class and duration of flight, maximises the potential for savings opportunities.
“The technology that supports this type of search is the first of its kind. FairFly’s advanced algorithms are designed to accommodate various layers of travel policies giving the company full control to customize search preferences according to employee levels and more, all the way down to a single flight or traveller.”
FairFly charges a tired minimal monthly service fee and also a “success fee” when cost savings are realised, which the firm claims ensures the service pays for itself.
The company was formed in 2013 with $2 million funding from Blumberg Capital and Emery Capital as well as Levine. It has since switched focus from being consumer-facing to TMC and large enterprises.
Integrations with Amadeus and Travelport are in the pipeline and due to go live in September.