Air China, China's Largest International Airline, Selects PROS Group Revenue Management System.Business Editors HOUSTON--(BUSINESS WIRE)--July 30, 2003 PROS Revenue Management, the world's leader in pricing and revenue optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. science and software, and the pioneer and dominant provider of revenue optimization to the travel and transportation industry, today announced that Air China, China's largest international airline and the national flag carrier of China, has licensed the PROS Group Revenue Management System. Mr. Cai Jianjiang, Vice President Commercial of Air China, states, "This is a large step forward for Air China. PROS has proven their credibility in sophisticated revenue management. Air China will use this PROS Group to better manage our group traffic and increase revenues." "We at PROS are excited to share our revenue management expertise with Air China as they continue along their impressive pathway pathway /path·way/ (path´wa) 1. a course usually followed. 2. the nerve structures through which an impulse passes between groups of nerve cells or between the central nervous system and an organ or muscle. of success," says Benson Yuen, president of PROS travel and transportation group. "We are thrilled to have this opportunity to escalate es·ca·late v. es·ca·lat·ed, es·ca·lat·ing, es·ca·lates v.tr. To increase, enlarge, or intensify: escalated the hostilities in the Persian Gulf. v.intr. our positive relationship with Air China." PROS Group is the state-of-the-art, proven solution for airline group revenue management that allows an airline to efficiently evaluate a group request for travel and respond within minutes. Based on specific economic calculations, PROS Group can assess the displacement displacement, in psychology: see defense mechanism. Same as offset. See base/displacement. cost of accepting a group versus seating individually paying passengers, relative to the historical data of past flights, thereby generating the optimal revenue mix for the flight. Both one-time travel groups and series group travelers are evaluated using this system. There are more PROS Group Revenue Management Systems installed and operational than any other group revenue management system in the airline industry. Air China will use the PROS Group System for maximizing revenue opportunities from the evaluation of group requests and for subsequent group tracking to minimize seat wastage wastage a loss of product or productivity; in terms of animal production includes losses due to deaths of animals, lowered production from survivors, including reproduction, and lost opportunity income. wastage Fetal wastage, see there across its network. 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 travel and transportation industry. PROS provides system solutions to the airline, energy, healthcare, hospitality, broadcast, rail, cargo, petroleum, and other 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 Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. revenue increases of 6-8% as a result of demand forecasting and revenue optimization. PROS' solutions forecast demand, optimize optimize - optimisation 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 Air China Founded on July 1, 1988, Air China is the largest air carrier in China in terms of traffic volume and company assets. Engaging in international and domestic passenger and cargo flight services, Air China is the only national flag carrier in China. Air China currently has a total of 69 airplanes, operating 114 routes, including 43 international routes and 71 domestic ones. This equates to more than 1000 scheduled flights scheduled flight schedule n → vol régulier scheduled flight schedule n → Linienflug m on weekly basis, serving 29 cities in 19 countries and most of the provincial capitals Noun 1. provincial capital - the capital city of a province capital - a seat of government city, metropolis, urban center - a large and densely populated urban area; may include several independent administrative districts; "Ancient Troy was a great city" , major cities and tourist attractions Noun 1. tourist attraction - a characteristic that attracts tourists attractive feature, magnet, attractor, attracter, attraction - a characteristic that provides pleasure and attracts; "flowers are an attractor for bees" in China. In 1995, Air China was awarded international "Five Star Diamond award" presented by the American Academy The American Academy in Berlin is a non-partisan academic institution in Berlin. It was founded in September 1994 by a group of prominent Americans and Germans, among them Richard Holbrooke, Henry Kissinger, Richard von Weizsäcker, Fritz Stern and Otto Graf Lambsdorff and opened in of Restaurant and Hospitality Sciences for it's achievements in flight safety, customer service and quality operations. In the 1999 Brand Recognition contest in China, Air China ranked the first place among airlines which annually transport over 6 million passengers. |
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