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Success story or bound to fail - Crowds decide their air fares when flying with FlyinAway

How does it sound if you actually had the opportunity to choose your own airfare price through an auctioning system? Well that is exactly what FlyinAway Travel Technologies have just launched in the United States.

But how does the system actually works? A user can go online on www.flyinaway.com and choose the destination where they would like to go. After the search is done, the system will propose a number of flights that fall under that particular search criteria with their base price. Users than have the facility to vote for those flights which they would like to auction for. As soon as a flight is released for auction, the audience at large can freely bid on the flight of their choice.

Once the tickets are eventually purchased FlyinAway together with Cain Travel Agency, a Colorado-based travel agency, would cover any difference between the winning auction and the cost of the auction if the former happens to be miles apart.

When FlyinAway released this business model that said that: "We think customers have been forgotten in the industry. You rarely find sales to places you actually want to visit, and then it’s not on days you can actually fly. Or you always wondered if there was a better deal out there somewhere else."

Do you think that such a model can work in such a volatile and ever-changing market?

Source of story: http://www.tnooz.com/2013/05/02/tlabs/flyinaway-lets-the-crowd-decide-which-routes-to-put-on-sale/#v1kJt5jkFCCsPCCh.99