SkyTRAACS Airline Management Platform LCC Does Not Mean “No-Frills” IT
ABSTRACT: The emergence of Low-Cost-Carriers (LCCs) after deregulation and point-to-point routing was based on the inherent operational cost advantages over larger hub-and-spoke airlines. By 2019, with lower prices and shorter travel times LCCs captured more than 30% of the flying public. In 2020, LCCs, operating on razor-thin margins, were hit especially hard by the worldwide COVID-19 pandemic. Can technology help LCCs recover?
Source: IATA Annual Review 2020
“Aviation is in crisis. The COVID-19 Pandemic is the most profound de-connecting of modern society since World War II.”
– Carsten Spohr, Chair, IATA Board of Governors
The LCC Challenge
Never has the optimization of LCC operations been more important than during the COVID pandemic. With cash reserves at an all time low, debt accumulating from underutilized assets, increasing government assistance loans, and passenger load factors below profitable levels, any improvement in operational effectiveness and efficiency becomes a critical factor for survival. However, without detailed and timely expense tracking and revenue accounting of flight operations, LCC managers have not had the visibility to make the best decisions based on a clear, holistic view across all operations.
Until recently, LCCs have not had an affordable IT solution capable of providing the on-demand operational information available to their larger counterparts. Multiple, disconnected, non-integrated single-purpose legacy systems are incapable of providing the level of information required to optimize LCC operations. Often, expensive staffing has been used to overcome information technology shortfalls.
SkyTRAACS from Nucore Software Solutions is an affordable Airline Management Platform capable of providing the information and visibility required to optimize day-to-day LCC flight operations.
SkyTRAACS – an LCC Advantage
Employing the latest technology, SkyTRAACS provides LCCs with real time revenue and cost accounting required to make timely and informed decisions when managing passenger/cargo revenues and operating costs. SkyTRAACS’ end-to-end holistic view results in better decisions and improved results.
Automated processes eliminate human error and reduces staff requirements.
- Automated GSA, Agency Commissions, and Interline Settlements
- Automated Billing (incl. cargo and charter flights)
- Automated Reconciliation (BSP HOT/RET files)
- 100% Flight Coupon Auditing
- Automated Agency Collection and Settlement
- Automated Airport Tax Accounting
Integrated systems and management functions provide end-to-end real time data capture.
- Passenger Service Systems (reservations, departure control, and inventory)
- Supplier Invoice Management (IATA IS-XML)
- Fixed Asset Management
- Spare Parts Management
- Fuel Management
Real Time accounting and reporting provides on-demand holistic view of operations.
- On-demand Financial Statements
- Sales Reports/Analysis (revenue, passenger, yield, etc.)
- Flight Cost Accounting
- Flight/Route performance
- Flight Consumables
What can SkyTRAACS do for you?
SkyTRAACS is not just a financial system keeping track of past transactions. SkyTRAACS augments management’s ability to optimize company performance.
SkyTRAACS enables management to focus on issues as they arise – in real time. SkyTRAACS quickly becomes an integral part of your LCC management team where each depends on the other to optimize the company’s performance. Neither can, nor should, stand alone.
Nucore Software Solutions knows that no two airlines are the same. Management, policies, staffing, and organizations are all different. It is the differences between LCCs that limit the effectiveness and efficiencies of single-purpose, non-customizable legacy systems that were never designed for real time management of an airline. SkyTRAACS was designed specifically as an airline management platform.
Call us. A team of Nucore analysts can work with you to determine the gains SkyTRAACS can deliver for your LCC, your management, your policies, your staff, and your organization.