Company Overview

FLYR, operating as “The Operating System for Travel,” aims to provide mission-critical capabilities to modernize airline retailing and unlock new revenue streams. Its core offering is a software platform complemented by a marketplace, enabling airlines to transform into full-fledged travel retailers. The company addresses the issue of outdated 1980s Passenger Service System (PSS) technology that prevents airlines from selling end-to-end travel experiences and capturing an estimated ~$114 Billion in missed annual commissions from cross-selling other travel products.

FLYR’s solution includes three core product pillars: Best Orchestration (a modern reservation system), Best Experiences (a digital experience engine), and Best Decisions (personalized offers and forecasting). Its technology allows airlines to manage a limitless catalog of products and orchestrate sales through digital channels without requiring them to replace their existing PSS. Strategic anchor partner Riyadh Air is deploying all of FLYR’s core products, positioning it as a key foundation for FLYR’s go-to-market strategy. Other key clients include Virgin Atlantic, JetBlue, and Air New Zealand, with reported uplifts in ancillary revenue and average daily rates.

Market Opportunity

The serviceable obtainable market (SOM) for FLYR’s software alone targets the top 121 airlines (representing ~70% of industry revenue) with an estimated market size between $5B (bottom-up) and $10B (top-down), out of a total industry IT spend of $34B+. The marketplace opportunity adds another $23 Billion to FLYR’s market opportunity by enabling airlines to capture a portion of the ~$114B in missed annual commissions from direct sales of 3rd party non-air products. FLYR estimates airlines could grow operating margin by 5x by selling non-air products. The broader travel ecosystem is a $10 Trillion+ global market, allowing for potential expansion into other verticals like hospitality. FLYR positions itself as a “Booking.com sized opportunity” with a total enterprise value opportunity of $193 Billion, comprising $55B from Software (using an 11x multiple for Enterprise SaaS) and $138B from Marketplace (using a 6x median multiple for marketplaces).

Products and Capabilities

FLYR’s platform integrates three major layers: Intelligence and Optimization (pricing automation and forecasting), Offer and Order (a modern reservation system), and Booking Engine (CMS-centric retailing integrated with third-party marketplaces). Together, these replace legacy systems with a unified AI-driven solution.

Business Model

FLYR monetizes through annual recurring revenues generated from airlines, hospitality groups, and other travel operators. Contracts cover pricing automation, reservations, booking engines, and digital experience upgrades.

Revenue Streams

Revenue is diversified across products: ~$50M ARR projected from reservations, ~$16.6M from digital experiences, ~$7M from intelligence/optimization, and ~$6.9M from hospitality. This ensures resilience and expansion across multiple verticals.

Investment Rationale

FLYR presents a compelling investment opportunity by addressing a significant and underserved market with an innovative solution. The company is modernizing the antiquated airline technology stack, enabling airlines to unlock substantial new revenue streams by transforming into digital-first travel retailers and capturing a share of the ~$114 billion in missed ancillary commissions. The substantial market opportunity, estimated at $5-10B for software and an additional $23B for the marketplace, underpins a projected total enterprise value opportunity of $193 Billion. Strategic partnerships, notably with Riyadh Air, provide a strong anchor and validation for its product suite and go-to-market strategy. FLYR demonstrates robust financial projections with a projected ARR of $846.8 Million by FY’30 (65% CAGR) and a path to ~40% Adjusted EBITDA margin. The company’s experienced leadership team with backgrounds in travel, enterprise SaaS, and hypergrowth further de-risks execution. This final capital raise aims to position FLYR for cash flow breakeven, indicating a clear path to sustainable growth and profitability, targeting a $7 Billion+ Enterprise Value.