How to Maximize Corporate Airfare Savings in a Competitive Market

As Securing Discounted Corporate Airfares Gets Harder

Securing discounted corporate airfares in today’s competitive market poses significant challenges. Negotiating the best deals requires adept navigation through various obstacles, including tight profit margins, volatile oil prices, and increased competition from smaller carriers. Additionally, the complexity of ancillary services further complicates negotiations, with legacy carriers facing pressure to match the flexibility and innovation offered by low-cost carriers.

Consider the following three steps before beginning corporate airfare negotiations:

Benchmark Against Other Airlines & Price-Track Airfares

Before entering negotiations, thoroughly assess airfare prices across different airlines, especially on your company’s most frequented flight segments. Utilize airfare-tracking tools to gather real-time pricing data and benchmark against competitors. Armed with this information, negotiate from a position of strength can ensure you secure the most cost-effective air travel options for your travel program.

Understand Segment Volatility

Identify your business’s key travel segments and analyze their volatility patterns. Determine which routes are most critical for your organization and track fluctuations in fare prices against negotiated rates. This data empowers you to negotiate effectively with suppliers, leveraging insights to drive down business travel costs and maximize savings.

Flexible Negotiation Strategies

In negotiations, prioritize flexibility and compromise to secure larger discounts for your travel program. Recognize that airlines may be constrained in offering substantial discounts on base airfares. Instead, explore alternative areas for cost savings, such as ancillary services and travel perks. Consider accepting trade-offs, such as sacrificing economy fare discounts for enhanced savings on business-class tickets or bundled business travel packages.

By adapting to the dynamic airline landscape and embracing flexible negotiation strategies, Travel Managers can optimize corporate airfare savings and drive overall travel program efficiency.

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