Airfare price tracking scans ticket prices for net reductions in price for flights that have already been booked. It looks for price drops so that the ticket can be canceled and rebooked at a lower price.
To manage costs, companies typically require their travelers to make reservations according to a strict set of predefined rules in a travel policy. New technologies now enable considerable savings after the reservation and in and out of the void window until departure.
Airlines often change their pricing daily and sometimes hourly to manage their flights’ load factor and maximize their total revenue.
Companies such as Oversee offer services where tickets are tracked for price drops after booking. Even with semi-flexible fares, the net amounts reclaimed by Travel Managers can reach thousands of dollars on long-haul flights.
Airfare price tracking is a non-disruptive technology that connects to a company’s TMC and the GDS. In 99.99% of cases, the traveler does not even notice when they are rebooked on the same flight or cabin. Travel Managers of large organizations see millions of dollars of cost avoidance per year using this technology.