Jevgenijs Veinbergs joined Yieldr at the start of December as our new Product Manager. With years of experience under his belt from his time at Amadeus, easyJet and airBaltic, he brings a lot of expertise in the field of revenue management.
We dove into the biggest issues in the airline industry and how Yieldr presents a new way of looking at RM problems.
We're very pleased to welcome Jevgenijs to the Yieldr family!
Tell us about your career. How did you first enter the airline industry?
I’ve been always interested in maths, statistical analysis and other numerical disciplines, but also in the travel industry – especially airlines.
So when I had an opportunity to join the Revenue Management team at airBaltic, I immediately realized that I could merge my interests into one role.
It was a time of changes for airBaltic. It was moving from point-to-point to a hub-and-spoke network model. As a pricing analyst, I was assigned to develop the first O&D (origin & destination) pricing structure for them and also implement in-house fare filing through ATPCO (the Airline Tariff Publishing Company).
Since then I’ve never really left the airline Revenue Management field.
Does a particular time in your career stand out?
Those are definitely the years I spent working at Amadeus.
I had a great opportunity to work on innovative revenue optimization solutions for airlines of different sizes around the world. I also participated in numerous conferences, airline working groups and workshops, solving the latest industry challenges.
This helped me to take my industry expertise to the next level and build a variety of skills in product management, product marketing and sales. I was also able to develop a complete end-to-end view of the airline ecosystem today and in the future.
But what I’m particularly proud of is that I had a chance to work with such great individuals and industry experts. They inspired me to constantly improve and become better at what I was doing.
What led you to Yieldr?
I was looking for an opportunity to explore new and innovative concepts in revenue management, and I came across Yieldr’s new way of looking at this problem. I realized that this game wasn’t just about optimizing an offer for customers who already came to the airline. It was also about bringing the offer directly to the right customer through personalized media and market insights.
This concept is not new. It's used in other industries – Amazon is a good example. However, I saw how Yieldr applies it to the airline industry and became very interested.
I felt that the world and the industry were changing and I had to move along.
What helped me to make the final decision to join Yieldr was their commitment to sustainability and company values such as “Be Humble”, which all resonate with my personal values and goals in life.
What role will you play at Yieldr?
I will be working on the Yieldr Air product as a product manager.
It will be another great opportunity to test my product skills and also put my industry knowledge into practice. However, it is not as simple as just relying on my past experience.
In this role I will have to look as far as possible into the future of airline e-commerce, and not only from purely revenue management, marketing and technological perspectives. There’s a need for a more global view. This requires going beyond the airline industry – taking best practices from other industries that have succeeded in understanding their customers better and translated this understanding into better products and services for their customers.
How has the transition been so far?
It’s a completely new environment for me and I’m still getting used to fully working in Agile. There are also new and more efficient ways of communication within the company, such as Slack and various applications.
I guess it would have been much harder without the welcoming and collaborative atmosphere that the Yieldr people have created here.
What excites you about the company?
I would say its fully sustainable business model. On one hand, that translates into helping airlines to become more tech-savvy, generate additional revenue and gain efficiency. Meanwhile, it’s also managing environmental impacts to create a more sustainable future for all of us.
It’s also hard not to mention the company culture. Yieldr pays close attention to the work-life balance for every one of its employees. The company has already implemented a number of initiatives to keep Yieldrs healthy and stress-free. For example, there are yoga classes and sports activities that are integrated within the working week.
What are your ambitions for Yieldr?
Jumping off Cliffs and Challenging the Status Quo.
There’s no lack of space for the new ways in airline product management.
From this perspective, I’d like to have courage and apply a customer-centric approach in the way I see and develop products. I want to make sure that it creates a positive experience for the users.
My goal at Yieldr would be to develop a fully automated airline platform that smoothly performs routine tasks, intelligently collects necessary information and shares it with impacted stakeholders. So that instead of operating such systems manually, people could focus on its findings and other more meaningful tasks and at the end, feel more fulfilled in their roles.
What, in your opinion, are the most important issues in the airline industry?
The airline industry hasn’t changed in a while. It’s unfortunately still lagging behind other industries from a technological perspective.
Even something as simple as showing an offer to a passenger in a transparent way and pricing an offer could be an issue in the channels that are not controlled by the airline. This can leave passengers confused and impact their perception of the airline.
At the same time, passengers are spending much more time searching for the right product and making sure they correctly understand airline policies.
With economies growing around the world, there’s definitely no lack of demand for air travel, that today has started to be seen more as a commodity. Nonetheless, some airplanes are still flying half-empty. Such a situation doesn’t benefit anyone.
How do you believe Yieldr can make an impact on the airline industry?
I believe that Yieldr’s experience in the marketing and advertising fields can fit very well into a new chapter in the book of airline e-commerce.
This chapter is where airlines and their passengers would be connected in the informational “symbiosis”. Where making a personalized offer for every passenger is the norm and where searching for air tickets doesn’t take more time than the actual travel time.
This would perhaps help to create a more sustainable environment, as airlines will better understand customer intentions and plan their schedules and network accordingly. All while maximizing the utilization of their airplanes, improving load factor and increasing profit.