JetBlue-Backed Startup Flyr Buys Two Companies to Expand Its Airline Software
Skift Take
Airlines have historically been cautious about adopting new technologies. So it's striking to hear any talk that carriers are buying new software during the pandemic-related revenue crisis.
Flyr Labs, which sells software to airlines to help them set their fares in revenue-boosting ways, has bought two smaller companies to expand its offering. The startup said on Wednesday it had acquired Faredirect, which collects and analyzes data to help airlines price ancillary products, such as seat upgrades and checked baggage, and xCheck, a marketing software firm for airlines.
The companies didn't disclose the terms of the transactions but said the deals involved a mix of equity and cash. Flyr is a San Francisco-based startup backed by JetBlue Airways' corporate venture arm JetBlue Technology Ventures. It has disclosed raising more than $30 million in funding from multiple investors to date.
"We set the pricing for many airline clients," said founder and CEO Alex Mans. "But these deals will let us build out our services to cover ancillary revenue and airfare marketing technology. They're part of us broadening our scope. We want to help with the decision-making processes in other parts of an airline organization."
The pandemic has damaged the revenue-generating potential of airlines. Logically, that makes many executives cautious about investing i
