Farecast Launches New Tools To Help Savvy Travelers Catch Elusive Airfare Price Drops This Summer Farecast emerges from beta with an audit confirming predictive accuracy of

74.5 percent



    SEATTLE, May 15 /PRNewswire/ -- Farecast.com, the airfare prediction
 website, announced today new tools that help savvy travelers catch elusive
 price drops and be more empowered when shopping for airfare this summer.
 Farecast Alerts, powered by Farecast's proprietary prediction technology,
 are a powerful new addition to Farecast's suite of tools that help
 consumers track their trip and save money. No other airfare alert provides
 a prediction and comprehensive fare history to help consumers catch a price
 drop. Farecast also emerged from beta today with unique features for
 frequent travelers and results of an audit confirming its predictive
 accuracy of 74.5 percent.
     "We've seen a high volume of price drops over the last several months
 and expect these to continue throughout the summer," said Hugh Crean,
 Farecast's president and chief executive officer. "Airline prices are
 constantly changing and no other travel site empowers you with tools to
 capture elusive price drops. Farecast recommends when to wait and provides
 free alerts that tell you when to buy at lower prices."
     Catch Elusive Price Drops with Farecast Alerts
     Farecast research reveals that more than 50 percent of price drops
 disappear within 50 hours, illustrating the need for consumers to stay
 apprised of fare drops to their chosen destinations. No other travel
 website tracks available pricing daily to help consumers make an informed
 choice to wait and buy later, and then provides a free prediction and
 comprehensive fare history to help them catch a price drop.
     Farecast's new alerts will be even more valuable for consumers this
 summer, as a combination of factors, including early indications of weaker
 demand, increased airline competition and rising fuel prices, promise to
 make this busy summer season more dynamic and price drops more dramatic.
 Farecast Alerts are the latest addition to Farecast's "Track Your Trip"
 suite of tools which include Fare Guard and RSS feeds. When it predicts
 fares are dropping or flat, Farecast also offers customers the opportunity
 to purchase a Fare Guard to protect the lowest fare for their trip for
 seven days.
     Farecast Emerges From Beta with Expanded Features
     Farecast emerged from beta today, expanding its air shopping service to
 include one-way, multi-city, nearby airports and any class of service. With
 this release, Farecast introduced innovative new search functionality
 including a unique Flight Quality Filter that allows frequent travelers to
 sort by type of flight including red-eye, long layover, short connection or
 mixed cabin. Farecast also tells its customers when seats are limited so
 consumers no longer get burned by unexpected sell-outs. No other travel
 website offers customers this level of visibility and intelligence when
 shopping for flights. During this beta period, Farecast also found more
 than $10 million in potential customer savings as a direct result of its
 predictions.
     Audit Cites 74.5% Prediction Accuracy
     In an audit, Navigant Consulting, Inc., confirmed that Farecast's
 predictions are 74.5% accurate, and that travelers purchasing two tickets
 could save an average of $55 by using Farecast's Fare Predictions. Navigant
 Consulting analyzed a random sample of over 44,000 predictions made by
 Farecast to customers from January 1, 2007 through March 31, 2007, and
 calculated monthly accuracies of 74.6 percent, 73.6 percent and 75.2
 percent, resulting in an overall 74.5 percent accuracy rate for this
 period.
     "We've closely analyzed a statistically relevant sample from Farecast's
 predictive technology, and confirmed the veracity of the technology's
 accuracy," said Brad Wang, a consultant with Navigant Consulting. "Based on
 our findings, if customers adhere to Farecast's prediction and
 corresponding recommendation when shopping for airline tickets, customers
 will potentially save over $50 on a typical roundtrip transaction."
     Farecast Airfare Predictions
     Unlike any other travel website, Farecast.com saves online travel
 shoppers money with an airfare prediction for their specific trip. The
 company's patented airfare prediction shows whether the lowest fares for
 their trip are rising or dropping. Farecast.com also provides expected
 price movements, confidence levels, historical prices and buying tips when
 customers search for flights. To learn more about the proprietary airfare
 prediction, see the Our Technology page of Farecast.com.
     About Farecast, Inc.
     Farecast.com is the airfare prediction website. Farecast.com helps
 airfare shoppers across the country save money by answering the question:
 should you buy now or wait? In addition to being the first to provide
 airfare predictions, Farecast.com displays the lowest fares from the major
 airline sites and offers industry leading travel planning tools.
 Farecast.com was recognized as one of PC World's 20 Most Innovative
 Products of 2007, "Best of What's New for 2006" by Popular Science, one of
 TIME Magazine's 50 Coolest Websites for 2006 and one of the "Best Trip
 Planning Tools" by Business Week readers. The company is located in
 Seattle, Washington, and is funded by Sutter Hill Ventures, Greylock
 Partners, Madrona Venture Group, WRF Capital and PAR Capital Management. To
 get a free airfare prediction from your city, or to learn more visit
 www.farecast.com.
     Media Contact:
     Anne Taylor Hartzell
     206.850.6501
     anne@farecast.com
 
     Spark PR for Farecast:
     Nick Leahy
     415.321.1864
     nick@sparkpr.com
 
 

SOURCE Farecast, Inc.

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