DALLAS--(BUSINESS WIRE)--Oman Air Cargo, a prominent Middle Eastern airline renowned for its expansive global network spanning four continents, has embarked on a transformative strategic partnership with Revenue Technology Services (RTS) within the cargo division. This collaboration marks a pivotal moment for both entities as they pioneer advancements in air cargo management, with a focus on revenue management, dynamic pricing, revenue planning / sales budgeting and the integration of cutting-edge Artificial Intelligence (AI) and Machine Learning (ML) solutions.
Oman Air Cargo is set to revolutionize its cargo operations through the deployment of RTS's state-of-the-art solutions, including the groundbreaking Revenue Planning / Sales Budgeting solution, Foresight, Pricing solution, AcceleRate, and Revenue Management solution, Velocity. By leveraging these innovative technologies, Oman Air Cargo aims to enhance its competitiveness and operational efficiency within the dynamic air cargo industry.
The integration of Foresight enables Oman Air Cargo to assess cargo value in schedules, establish revenue and sales targets, and monitor progress with precision. AcceleRate empowers the airline in negotiating optimal AI/ML-based contract, spot, and tariff rates, generating real-time rate sheets and offering dynamic personal pricing capabilities. Velocity, utilizing advanced machine learning and AI algorithms, forecasts both short-term and long-term capacity and demand, evaluating each booking for optimal profitability.
These cutting-edge solutions will be hosted in RTS's private cloud environment, ensuring a secure and scalable platform for Oman Air Cargo's transformative journey.
Mr. Ahmed Al Amry, Chief Transformation Officer at Oman Air, said: "Our partnership with RTS represents a strategic investment in the future of our Cargo business. As air cargo continues to play an increasingly important role in airline revenue, it's essential for us to leverage cutting-edge technologies to optimize operations, drive profitability and secure our long-term sustainability.”
Raja Kasilingam, President of RTS, expressed his enthusiasm about the partnership, emphasizing the significance of dynamic pricing and AI/ML integration in the air cargo industry, "I am personally very excited that Oman Air Cargo chose us as their partner in leveraging RTS solutions embedded with the outcome of our research and development in AI/ML to optimize their cargo offerings to their customers." Mukundh Parthasarathy, Senior Vice President for RTS, added, "We are thrilled to embark on this transformative journey with Oman Air Cargo, as they choose our Cargo Suite to elevate their operations. By integrating our innovative solutions, Oman Air Cargo is poised to not only enhance operational efficiency but also unlock new avenues for increased revenues and profits. Together, we look forward to pushing boundaries, challenging norms, and driving sustainable growth in the dynamic aviation industry," highlighting the collaborative commitment to challenging industry norms and propelling air cargo operations into a new era of efficiency and profitability.
About Oman Air Cargo:
Oman Air (WY) began operations in 1993. Initially founded to serve important domestic routes, it has since undergone rapid growth and is today recognized as a major international carrier connecting cities around the world to Oman’s stunning nature, rich heritage and welcoming culture.
The award-winning airline has been instrumental in transforming Muscat into one of the Middle East’s most desirable travel destinations, while supporting adjacent commercial, industrial and tourism activities. With a young and modern fleet including, among others, fuel-efficient Boeing 737 and 787 Dreamliner aircraft, which feature luxuriously appointed interiors, Oman Air is renowned for its exceptional products and services, both in the air and on the ground, and for the signature Omani hospitality it offers to every guest throughout their journey.
About Revenue Technology Services (RTS):
Revenue Technology Services (RTS) is a leading provider of AI/ML-powered solutions and services, empowering clients to boost margins, enhance customer experiences, elevate employee productivity, and foster growth. Specializing in the travel and transportation sectors, RTS offers a comprehensive suite of analytics, software solutions, consulting, and operations research capabilities tailored for airlines, cruise ferries, and rail industries across both passenger and cargo segments. From scheduling to revenue management, pricing, revenue planning, and sales budgeting, RTS delivers cutting-edge solutions aimed at optimizing performance. Headquartered in Dallas, Texas, RTS maintains a global presence with offices in Toronto, Canada; London, UK; Cape Town, South Africa; and multiple locations across India including Pune, Chennai, Hyderabad, Bengaluru, and Chandigarh. For more information about RTS, please visit www.rtscorp.com.
