PROS Revenue Management, the world`s leader in pricing and revenue optimization science and software, and the pioneer and dominant provider of revenue optimization to the travel & transportation industry, today announced that China Eastern Airlines has licensed the PROS 5 Revenue Management System. Shanghai-based China Eastern will be using the PROS 5 Revenue Management System to forecast, manage, and optimize the allocation of seat inventory at different fare levels across its network. At a minimum, PROS client carriers have reported an increase of 6-8% in revenues due to the implementation of the PROS 5 Revenue Management System.
Li Fenghua, President of China Eastern Airlines, states, “The PROS 5 System will significantly improve our ability to manage bookings. With the implementation of the PROS 5 Revenue Management System, we will be better able to continue our rapid growth within our market and beyond. It will ultimately make China Eastern an even more effective competitor by improving revenue, load factor, and yield.”
PROS 5 is a state-of-the-art system enabling airlines to statistically forecast demand for their flights. Using historical data that captures flight information, advanced booking activity, and actual boarding statistics, the highly advanced optimizing and forecasting engines produce fare class allocations that maximize revenues for every flight. Leading the industry, PROS has licensed seventy-five PROS 5 Systems. There have been more installations of PROS 5, than any other revenue management system in the world.
“We are honored to begin a revenue management partnership with China Eastern,” says Benson Yuen, president of PROS travel and transportation group. “The revenue management solution PROS is providing to China Eastern will generate incremental revenue and will increase passenger satisfaction.”
About PROS -
PROS Revenue Management is the world`s leader in pricing and revenue optimization solutions and the pioneer and dominant provider of revenue optimization to the airline and other industries. PROS provides system solutions to the airline, energy, healthcare, hospitality, broadcast, rail, cargo, petroleum, and auto rental industries and has licensed 242 systems to 103 clients in 39 countries. PROS` clients include 17 of the top 25 carriers in the airline industry.
The PROS mission is to maximize the revenue of each client using PROS` world-leading revenue optimization science, enterprise profit optimization, and pricing optimization solutions. PROS` clients report annual incremental revenue increases of 6-8% as a result of demand forecasting and revenue optimization. PROS` solutions forecast demand, optimize inventory, and provide dynamic pricing optimization to maximize revenue.
Founded in 1985 in Houston, PROS Revenue Management has a five-year compounded revenue growth of 20+%, in large part due to the intellectual capital of its staff. Over half of PROS` professional staff has advanced degrees and the staff speaks a cumulative total of 26 languages. The company is profitable with Year 2002 revenue of $34 million. For more information on PROS Revenue Management, please visit www.prosRM.com or call 713-335-5151.
About China Eastern -
China Eastern Airlines Co., Ltd, its subsidiaries and branches are located in East and Northern China with more than 40 sales offices. China Eastern also constructed the holding company of China Cargo Airlines with COSCO. The scope of business includes 17 trades, such as commercial air transportation, general aviation, air catering, advertisement, import and export, air traveling, equipment manufacturing, real estate, hotel, finance, and training. China Eastern`s fleet includes more than 60 airplanes. It has formed a network centering in Shanghai radiating to all of China and linking to Asia, Europe, America, and Australia. China Eastern continually strives to provide super services to their passengers, and has been praised highly in the activities of upgrading the Chinese civil aviation transportation service quality.