On May 26, Veovo announced London Luton Airport (LLA) has selected Veovo's Revenue Management solution. The software will automate the billing of the airport's aeronautical revenue and support the flexible commercial deals needed to encourage traffic recovery.
With Veovo Revenue Management, LLA can fully automate the collation and processing of billing data in real-time. It will save the airport hours of work, reducing the cost to invoice, minimizing errors and improving the cash cycle time. Veovo's flexible tariff structure also allows the airport to quickly innovate with incentive schemes to restore and expand routes and monetise all types of services.
As air traffic returns, finding ways to fuel revenue growth through greater billing efficiency and creating compelling carrier deals will be crucial to airports' recovery. The complexity and manual effort to gather and process aeronautical billing data can cause invoicing delays, slowing revenue realization – something LLA believes is no longer sustainable in the new travel future.
Kamal Patel, head of IT at London Luton Airport, said: "To create a more resilient and agile airport business, we wanted to drive real change with our revenue management by removing complexity, while also creating opportunities to stand out from the competition with new creative tariff structures. We expect Veovo to play a big part in helping us achieve greater efficiencies and innovation to fuel our growth."
James Williamson, Veovo CEO, said: "Forward-thinking airports like London Luton Airport are investing in revenue management technology now, despite the market conditions, to be ready for the future of travel with better outcomes for themselves, their airline partners and their customers. We're thrilled to be chosen as their partner to help them achieve greater revenue assurance and growth at every stage of the recovery process."
Veovo Revenue Management accommodates both Single and Multi-Airport organizations and is relied on by airports worldwide, including Hong Kong, Belfast international and Melbourne. It is available as a stand-alone module or an integrated component of the Veovo Intelligent Airport Platform. This AI-driven solution connects multi-modal passenger flow, airport management and revenue maximization for smarter end-to-end decision-making, efficient operations and brilliant customer journeys.
