👉 Fares engineering is the process of determining and adjusting airline ticket prices to maximize revenue while balancing demand and profitability. It involves analyzing various factors such as market conditions, competition, fuel costs, seasonality, and customer behavior to set optimal prices for different routes and classes of service. Airlines use sophisticated algorithms and data analytics to predict demand and adjust fares in real-time, aiming to fill seats efficiently and capture the highest possible revenue. This complex process requires a deep understanding of economics, customer psychology, and operational constraints to ensure that pricing strategies are both competitive and profitable.
