SeatBoost, which provides dynamic seat upgrade solutions, received an investment from the parent company of British Airways, International Airlines Group (IAG).
SeatBoost, an auction app developed in California, allows for live mobile bidding at airports. Passengers can bid to upgrade their seats and airlines earn additional revenue. IAG’s corporate VC arm, Hangar 51, states on its website that they “seek out early-stage startups with the potential to change the industry between Seed and Series B.”
SeatBoost plans to use the money to expand its capabilities. It already counts carriers like Iberia and TAP Air Portugal as customers.
SeatBoost CEO Kevin Stamler said:
“This collaboration will not only support our vision but also help us accelerate our growth and innovate.”
“Our aim is enhancing data-driven insight to create personalized travel experiences for travelers, while maximizing revenues for airlines.” The investment from IAG validates SeatBoost’s business model and underlines the positive impact that we can achieve in the travel sector together.
Raza Ali, IAG’s vice president for innovation, said, “Innovation, a core function of IAG, is key to delivering better customer experiences, efficient operations, sustainable aviation, and a more profitable business in general.” SeatBoost’s creative strategy to unlock revenue from new sources is in line our views.
Views: 2,321
Related to the topic:
- Singapore Airlines invest additional INR 3195Cr in Air India Singapore Airlines will invest an additional INR 3,194.5 Crore in Tata Group's Air India after the merger of Vistara, which took place in November. The merger will be completed on 11/11/2024. It was announced on 29 November 2022. The full-service carrier Vistara began flying on 9 January 2015 and is a joint venture of Tatas Airlines and Singapore Airlines. Singapore Airlines holds a 49 percent shareholding. Singapore Airlines Group (SIA Group) on Friday announced that it would be exchanging its 49 percent stake in Vistara for INR 20,585 Million (INR 2,058.5 Crore) in cash, in…
- Turkish Airlines to start flights to Sydney as of 4 December Turkish Airlines has announced that flights will be launched to Sydney, Australia from 4 December. The airline will now have a second Australian location in its global network. The airline, which has the most destinations, will fly four flights a week to Australia's biggest city via Kuala Lumpur, using an Airbus A350 900 aircraft. This new route – which will eventually become a non-stop service from Istanbul to Sydney once the carrier receives delivery of new aircraft capable of flying direct to Australia – comes after Turkish Airlines launched flights to Melbourne in March this…
- SpiceJet receives investment of INR 294.09 crore SpiceJet announced that Ajay will invest INR 294.99 crores in the airline via Spice Healthcare Private Limited. This will be done through the conversion of 13,14 crore warrants to a similar number equity shares. After this transaction the Promoter Group’s stake in SpiceJet increases from 29,11 to 33.47 per cent, which is a significant improvement in their position in the airline. SpiceJet must continue to invest in its growth and financial security. Capital injection is a key part of this effort. Ajay's move will see him dispose of up to 3,15 crore shares. Spice Healthcare…
