RateGain Travel Technologies (RateGain) stock opened at Rs 300 today on the National Stock Exchange, up 5 percent, on news of its deal with Air Senegal. The stock witnessed a high point of Rs 311.90 on the NSE today, and closed at Rs 300.40 yesterday.
Further, on the BSE, Rategain's stock opened at Rs 300.85 and witnessed a high point of Rs 311.95 after the company informed the bourses about its deal with the African airline.
As per the agreement, Rategain will provide Air Senegal with its AirGain "smart" software solution, which uses what the company statement calls 'Accurate and Realtime Intelligence’. This will be used to track movements on all important Origin and Destination (OND) routes 80 percent faster, it added.
Alioune Badara Fall, CEO of Air Senegal said the software will help the airline "take better decisions" based on market insights provided by the software.
“The growth of African airlines will depend on access to reliable, scalable and affordable market insights, and AirGain is playing a critical role in providing the same. Dedicated customer support, easy-to-use UI and the accuracy of rates makes it really easy for our commercial teams to use
AirGain and take better decisions”, Badara Fall said.
Vinay Varma the Senior Vice President and General Manager of AirGain said the company hopes to expand their business in the African market. “We believe that there is immense potential in the African market to adopt technologies that help airlines sustain growth over the long term".
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