Articles tagged “flyr”

Tech systems need upgrades to handle unprecedented growth in travel, and private equity firms are deploying billions to take part. In 2025, expect more consolidation as well-funded late-stage startups buy up smaller players, reshaping the industry’s behind-the-scenes infrastructure.

In a market increasingly dominated by efficiency and integration, the long-overlooked airline tech sector might just become the travel industry’s next big story.

Skift has covered hundreds of travel startup funding rounds over the past few years, and we’ve spoken with numerous founders and investors about the state of venture capital. They all tell a similar story: There’s money to be had, but the bar is much higher now.

One startup fundraise this week — the largest yet this year — also outdid the top two deals in 2023 by GetYourGuide and Klook.

Flyr is using the funding to support growth and scale the company, which saw recurring revenue growth of 290% over the last 12 months.

Technology solutions powered by artificial intelligence (AI) have become mission-critical for today’s travel companies. In this roundtable discussion, FLYR executives address how AI technologies are evolving and what travel executives need to know to prioritize their investments for 2024.

In a recent webinar, FLYR Labs and Avianca joined Skift to discuss how airline business models are evolving to keep pace with traveler expectations. With pressure to adapt to today’s real-world challenges, AI is enabling a step change in airline commercial performance and customer experience.

Travel executives can create an actionable AI roadmap for 2023 by understanding how the technology works, its varying practical applications, and how it will affect their organizations on a broader scale.

Although aviation executives have been bullish in recent weeks about the industry continuing to make significant progress in its recovery, Flyr's bankruptcy is a clear sign many airlines' financial challenges are far from over.

2023 will be the year of AI. To realize its full potential, travel companies need to rethink their entire philosophies around data, analytics, and decision-making.