The ‘Airlines: A Path Back to Profitability’ report includes insights from over 60 survey responses and executive interviews with airline commercial, financial, and technology professionals worldwide and is now available for download at Accelya.com/lab.
Here are three takeaways from the report:
Crises – A Catalyst for Change
Covid dealt a brutal blow to the airline industry. However, there is an upside as almost all (96%) of survey participants believe the crisis has created opportunities for positive transformation. Airlines have grasped the need to shift from bureaucratic analysis and departmental silos, which 48% of executives said was their leading pre-Covid innovation impediment and turning to action.
As they resume traveling, passengers will have different needs and expectations than they did before the pandemic. For one thing, months of lockdown have produced a new breed of ‘digital ninjas’ who demand better online shopping experiences – and greater flexibility. Adobe estimated that two years of e-commerce growth was compacted into the 2020 holiday season in the US. As such, digital delivery will be central to efforts to return to the black.
Airlines Take Control
Now is the time for airlines to assert themselves and build the retailing experiences they want to deliver to their customers. This is reflected in the finding that today, 68% of airlines are using or intend to use NDC as part of their retailing and distribution strategies.