The airline industry is struggling to adapt to shifting consumer travel patterns following pandemic-induced work-life changes, reports Yahoo.
The unpredictability of demand and revenue forecasting are resulting in lost revenue and investor caution. American Airlines and United Airlines both announced challenges with forecasting. Hybrid and remote work arrangements have also given customers flexibility in planning trips, making historical data less reliable. As a result, airlines are turning to artificial intelligence (AI) and data scientists to align sales, pricing and scheduling with changing trends.
Regardless, airlines face the risk of failing to keep pace with ever-shifting travel patterns and missing financial forecasts, which is stoking worries among investors who are not sure travel spending will hold up.
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