AIRLINE FARE

PREDICTION
Team mentor: Team members:

Ms. S D Lalitha Ajay Krishna . J

Dinesh Kumar . B
Gerald Moses . D
 Abstract :
 The price of an airline ticket is affected by a number of factors, such as flight distance,
purchasing time, fuel price, etc.

 Each carrier has its own proprietary rules and algorithms to set the price accordingly.

 Recent advance in Artificial Intelligence (AI) and Machine Learning (ML) makes it
possible to infer such rules and model the price variation.

 The proposed framework combines the two databases, together with macroeconomic
data, and uses machine learning algorithms to model the quarterly average ticket
price based on different origin and destination pairs, as known as the market
segment.

 The framework achieves a high RMSE Score on the testing dataset.

 Existing System :
● studies on market segment price prediction use heuristic-based conventional statistical models,
such as linear regression, and are based on the assumption that there exists a linear relationship
between the dependent and independent variables, which in many cases, may not be true.
● All existing work leveraging machine learning approaches for airfare price prediction are based on:
1) proprietary datasets that are not publicly available
● 2) transaction records data crawled from online travel booking
● sites like Kayak.com
●

.
METHODOLOGY :
 IMPLEMENTATION
PERFORMANCE
MEASURES
Proposed System:
~ We could access and collect historical data about millions of fare searches going back several years.
Armed with such information, we created a self-learning algorithm, capable of predicting the future price
movements based on a number of factors, such as seasonal trends, demand growth, airlines special
offers, and deals.
~ We will incorporate machine learning algorithms and data mining strategies to better model observed
prices. Among them, regression models, such as Linear Regression
(LR), Support Vector Machines (SVMs), XGBost Regresson.
Literature Survey:
● AUTHOR: B. Derudder and F. Witlox
● PAPER: An appraisal of the use of airline data in assessing the world city
network: a research note on data
● PUBLICATION: Urban Studies, vol. 42, no. 13, pp. 2371–2388, 2005.

● AUTHOR: K. Rama-Murthy
● PAPER : Modelling of united states airline fares – using the official airline
guide (OAG) and airline origin and destination survey (DB1B)
● PUBLICATION : Ph.D. dissertation, Virginia Tech, 2006.

● AUTHOR: K. Tziridis, T. Kalampokas, G. A. Papakostas, and K. I.

Diamantaras
● PAPER: Airfare prices prediction using machine learning techniques
● PUBLICATION: 25th IEEE European signal processing conference, 2017, pp.
1036–1039.
Thank
you!