Tuesday, August 26, 2008

S. Sridhar

"Disposing of 'distress inventory' by airline companies without diluting the brand image as well as revenue is a big challenge. Distress inventory, as you may know, refers to seats remaining unsold at the time of flight departure. On an average, 60000 seats are unsold per day, in India, as against total capacity of 200000 seats. That is, a whopping 30 per cent, as against the global average of 15 to 20 per cent. We, in Atyourprice.in, help airlines to distribute this inventory to flexible traveller at a price lower than the published price, and thus earn revenue."

S. Sridhar, COO and Co-founder, Atyourprice.in
August 26, 5.30 pm
Atyourprice.in



1 comment:

Murali said...

More...

Announcing India’s first “Bid Your Price”option for airline tickets
BID YOUR PRICE. INDICATE YOUR PREFERRED
DATE OF TRAVEL AND FLY.
Chennai, 25th February 2008 : A revolutionary model of bidding for airline tickets at your choice of prices (including taxes) and getting instant confirmations on preferred date of travel (or closest thereto) was announced by Chennai-based travel portal www.atyourprice.in . Now flying at your preferred price on a chosen date is simply very easy.


Log on to www.atyourprice.in and fill in the details of your intended travel plans along with your travel flexibility. Quote the price (inclusive of all taxes and fees) that you are willing to pay and submit the request. Get instant confirmation, if you are satisfied with flight option provided, make the payment and collect the ticket.

How does it work?


It is estimated that airlines in India have over 50,000 unsold seats each day and yet nearly 100,000 people travel on air conditioned trains on a daily basis. A proprietary pricing engine developed from scratch by an IIT graduate helps airlines predict and dispose of unsold inventory and gives consumers the power to bid for distressed inventory. This proprietary pricing engine helps address this inequality though an innovating pricing mechanism, which assists airlines in disposing of unsold seats at preferential prices. The reason why www.atyourprice.in is able to offer airline seats at unbelievable prices.

How are we different from the other travel portals?


Other travel portals such as MakeMyTrip, Yatra, Cleartrip are all travel aggregators who just collect inventory from different airlines and sell them to the customer through a single interface. When an airline starts selling distressed inventory through aggregators’, existing customers avail the rock bottom prices. Selling lower fares through travel aggregators only results in revenue dilution and does not get incremental revenue to the airline. In order to increase the overall revenue, it is necessary for the airline to distribute their unsold inventory through a different market place like www.atyourprice.in to avoid revenue dilution and bring in incremental passengers.


People behind www.atyourprice.in


This concept is the brainchild of Ananth Narasimhan who graduated top of his class at IIT-Chennai and received his Masters degree in Operations Research from the reputed University of Illinois-Urbana Champaign (popularly known as the birthplace of the Internet browser). Ananth combined his rigorous academic training with his 10 years’ experience in designing revenue optimization solutions for leading airlines including United Airlines, Delta Airlines and Jet Airways,


www.atyourprice.in is funded by highly reputed individuals in the venture fund industry known as Mumbai Angels. Key investors are Praveen Chakravarty (COO, BNP Securities India), Ranjan Kapur, (Country Manager � India WPP), Ashwin Mittal, (CEO, Inditech Solutions) and Sushil Jiwarajka (Chairman, Artheon Ventures).

For media enquiries, please contact:

Ananth Narasimhan – 99625 37986
S.Sridhar - 9884069055

**
Other links
http://indiainteracts.com/videos/2008/03/19/Business-Bytes--at-your-pricein-part-1/
http://indiainteracts.com/videos/2008/03/19/Business-Bytes--at-your-pricein-part-2/