This is somewhat of an existential question. Back when we were going through our branding exercise, we were asked to complete the following statements: "We believe __________"; and "We exist to __________". It forced us to think about why our customers, employees, and investors should care about Lumo, and why you should engage with us. We also came up with our name during that branding exercise; Lumo = LU (Illuminate) + MO (Movement/Mobility).
We live in a world where there is no consistent, accurate, ubiquitous source of flight delay forecasts; this drives costs, inefficiencies and a poor passenger experience. (Estimates vary, but the cost of delays is estimated at anywhere from $30B/year in the US alone to $100B globally). Travelers consistently rate unpredictable delays and cancellations as the most frustrating part of air travel (for example, surveys by Travel Leaders Group and BTN), and with more than a 6% annual growth in air travel, congestion is only increasing. You expect to know exactly how long it will take you to drive to work and if there is traffic along the way, to be able to look up the weather on your phone at any time, and to know where your Uber is and how long it will take to get to you. Why should air travel be any different?
We believe that accurate and easily-accessible flight delay forecasts could fundamentally transform how we experience and manage flight disruptions.
The Lumo platform uses powerful machine learning and simulation algorithms to predict the likelihood and magnitude of delay for any flight, anywhere in the world, up to three months out, and we make this data available to partners through APIs, data feeds, and mobile and web apps. The goal is simple but ambitious:
We exist to ensure that everyone—from airlines to passengers to travel agents—have the best information at their fingertips to help proactively manage disruptions and make travel more efficient and stress-free.
Our customers today include global airlines, TMCs, and corporate customers. We have an NPS that is consistently around 60+, and have heard great feedback from our customers.
“In a market where services compete to simply inform passengers of delays after they have happened, Lumo's offering stands out because they assess the risk of delay before it happens, helping passengers proactively manage their delays instead of simply reacting to them.” - Ivan Imana, CIO, Adelman Travel
Today, we work with a broad range of clients from airlines to Travel Management Companies to corporate customers to help lower costs and drive a better passenger experience. There is much work to be done before flight delay predictions become an integral part of the air travel experience, and we're excited for the journey that lies ahead. We hope you'll join us.