Travel 27th August 2020 - 3 min read

PredictX launches Air Ticket Status Analytics

By Joni Lindes

Reconciling tickets booked with airlines and matching airline waivers and policies has always been a time-intensive process. Additionally, there has been a historical data gap and lack of awareness around cancelled tickets and how to manage them. A recent study conducted by Lola.com reveals that 73% of respondents believe their companies go over budget on travel because trips are booked or changed at the last minute. These changes result in an average of $323 in additional costs any time a business trip is abruptly changed.

The study further revealed that 52% of respondents admitted that they don’t keep track of reimbursed flights, with 28% saying they don’t know when or if travellers receive reimbursements, and 23% saying they don’t even know what happens to these credits.

In 2020, the Covid-19 pandemic saw an unprecedented amount of last-minute cancellations. The airlines relaxed their cancellation policies – allowing for further refunds, credits and vouchers to be issued.

The only problem was there still was no effective way of keeping track of airline issued refunds, waivers, credits and vouchers.

Some buyers told BTN they have at least $1 million in unused tickets.

Instead of TMCs and GDS’s simply settling with airlines and issuing refunds to corporates, the scale and urgency of activity meant refunds were issued on multiple channels. Airlines also have different cancellation policies with varying terms and conditions meaning that some tickets are given as refunds, some are issued as vouchers and some become credits. Vouchers and credits have different terms with different expiration dates.

For example, a single trip booked with two different airlines is cancelled: one airline issues a refund as a credit registered separately with the TMC while another issues a refund directly to the corporate credit card. The data for each of these is managed in different systems- opening the opportunity for inefficiencies and errors.

As a result, many credits and vouchers are not seen by the companies who own them and go unclaimed until they expire.

Buyers need an easier way to track these tickets

As companies prepare for a return to travel while navigating changing Covid-19 regulations, those who can manage these assets stand to save millions whilst simultaneously keeping better track of their travellers. Despite Covid-19 cancellations being a temporary problem, this critical management of assets stands to be an ongoing need for any company.

As companies prepare for a return to travel while navigating changing Covid-19 regulations, those who can manage these assets stand to save millions whilst simultaneously keeping better track of their travellers. Despite Covid-19 cancellations being a temporary problem, this critical management of assets stands to be an ongoing need for any company.

Introducing the PredictX Air Ticket Status Analysis

Identifying a need for a simpler way of analysing cancelled tickets, we developed a custom analysis for all PredictX clients.

PredictX Air Ticket Status Analytics layers TMC, Credit Card and Expense data together with market data to enable you to immediately understand flown vs unflown (past and future) bookings, and the associated refund status of any unflown activity.

Details on where and how the company can claim unused tickets is provided.

PredictX Air Ticket Status Analytics delivers the following insights:

  • Live status of every ticket – flown and unflown, past and future.
  • Ticket status per each traveller via their employee ID.
  • Refunded vs unrefunded tickets.
  • Refunded tickets logged by TMC with reconciliation and a comparison to other sources.
  • Credit Card Tickets refunded. Pick up additional cash refunds that may not be tracked by agency records.
  • Credit/Voucher Balance. Track how many tickets are left to be used.
  • Voucher Schedule – month by month expiration view of outstanding vouchers/credits
  • Cost of Cancellation – true cost of cancellation to the company
  • Lost Funds. How much money has been lost from exchange and credit card fees.

Users can identify the number of flight tickets using the following categories:

  • Open (future flights)
  • Exchanged (flights moved to later in the year)
  • Cancelled (flights cancelled)
  • Flown (past flights)

With this analysis, travel managers can see the live status of every ticket – both used and unused. They also have a better understanding of their company’s credit with each vendor and how to best manage it. Instead of navigating through multiple sources, they can now efficiently and accurately make critical and timely decisions with one source and save their company millions.

Joni Lindes
By Joni Lindes
3 min read

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