Airlines reduce baggage loss by using new tech, report shows
Given the 8.2% increase in passenger numbers, the rate of bags lost fell to 6.3 per 1,000 passengers, down from 6.9 in 2023.
This is a 67% drop since 2007.
Sita said airports and airlines are handling baggage with 'more precision' by using real-time tracking, AI-powered analytics and self-service systems.
The report stated that these advancements are 'no longer experimental, they are becoming standard and they are clearly having an effect'.
Sita chief executive David Lavorel said: 'We've seen a radical shift with automation and the widespread use of real-time tracking.
'Passengers now expect their baggage experience to be as easy and transparent as using a rideshare or delivery app.
'It's no longer just about moving bags, it's about delivering a smooth, connected journey.
'Airlines are ready to tap into technology that improves the passenger experience while keeping costs down and being simple to roll out.
'Together with our partners, we're reimagining baggage handling to give passengers full visibility and control from departure to arrival, giving them peace of mind and making travel simpler and better.'
Despite the improvement, lost bags cost the aviation industry an estimated five billion US dollars (£4.2 billion) last year from courier returns, customer service, claims handling and lost productivity.
Delays remained the most common baggage issue last year, accounting for 74% of mishandling incidents.
Of the 33.4 million mishandled bags, some 66% were 'resolved' within 48 hours, the report added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
40 minutes ago
- Reuters
US dollar strengthens ahead of Jackson Hole meet; NZ dollar drops on dovish RBNZ
TOKYO, Aug 20 (Reuters) - The U.S. dollar gained for a third straight session on Wednesday as traders awaited the Federal Reserve's annual Jackson Hole symposium this week for clues on the path of monetary policy. The New Zealand dollar tumbled after the Reserve Bank said its board also considered a half-point cut in deciding to reduce the cash rate by a quarter point. The kiwi slumped as much as 0.9% to $0.5841, its lowest since April 14. The U.S. dollar index , which measures the currency against six major counterparts, added 0.1% to 98.438, its highest since August 12. In the first two days of this week, it gained about 0.4%. Friday's speech by Fed Chair Jerome Powell is the market's main focus, as traders watch for any pushback against market pricing of a rate reduction next month. Traders now place odds of 84% on such a cut, and expect about 54 basis points of reductions by year-end. "Given the relatively high bar for Powell to meet, there's a bit of risk being baked into the markets that he leans to the hawkish side and the proverbial rug gets pulled from beneath investors," said Kyle Rodda, an analyst at Traders, who ramped up bets for a Fed cut on September 17 after a surprisingly weak payrolls report at the start of this month, were further encouraged after consumer price data showed limited upward pressure from tariffs. However, a hotter-than-expected producer price reading last week complicated the policy picture. Powell has said he is reluctant to cut rates because of expected tariff-driven price pressures this summer. Later on Wednesday, the Fed will issue the minutes of its meeting on July 29 and 30, when it held rates steady, although they may offer limited insight as the meeting came before the weak jobs numbers. The dollar advanced 0.1% to 0.80885 Swiss franc , though it edged slightly lower to 147.56 yen . The euro eased 0.2% to $1.1626, and sterling slipped 0.2% to $1.3463. Australia's dollar declined 0.3% to $0.6435, its weakest since August 1.
Finextra
an hour ago
- Finextra
Eltropy platform adds integrations
Eltropy, the leading AI-powered conversations platform for community financial institutions (CFIs), today announced that its unified offering, Eltropy One Platform, now features over 50 integrations with essential systems used by credit unions and community banks. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This expanded ecosystem equips CFIs to boost operational efficiency and deliver more valuable experiences for their members and customers. Eltropy One Platform integrates with popular Core, Loan Origination System (LOS), Account Opening System (AOS), Collections, Customer Relationship Management (CRM), Payments, Artificial Intelligence (AI), Unified Communications as a Service (UCaaS), and Contact Center as a Service (CCaaS) providers. These integrations allow financial institutions to streamline workflows and better serve their communities. "Our goal is to provide CFIs with the tools they need to operate effectively and connect meaningfully with their members," said Ashish Garg, Co-founder and CEO of Eltropy. "Reaching 50 integrations is an important milestone and shows that we're building a connected ecosystem that supports the diverse needs of financial institutions. It means our customers can achieve more within a single platform, reducing complexity and increasing efficiency." "When we started this journey in 2020, Symitar was our only integration partner," said Prasad Shroti, SVP of Solutions and Strategy at Eltropy. "To see us reach over 50 integrations just five years later is a significant milestone. It shows our commitment to building the connected ecosystem that CFIs need. I'm proud of the progress we've made and the value this creates for our customers." To make exploring this extensive network of connections simpler, Eltropy has launched its new Integration Hub. This professional space showcases all 50+ Eltropy integrations, thoughtfully organized with easy-to-navigate categories and a section highlighting the most recent and most popular integrations, simplifying how financial institutions explore Eltropy's connected ecosystem. The expanded suite of integrations includes key systems that drive various aspects of financial operations. Among the most widely adopted and new integrations are: • Corelation: Supports real-time alerts and insights for smarter engagement. • Fiserv Portico: Keeps members informed with timely alerts and transaction tracking. • Encompass: Accelerates lending and reduces loan abandonment. • MeridianLink Consumer, Portal, Opening, and Collect: Enhances loan closings, accelerates lending, streamlines account opening, and manages delinquency spikes. • Origence: Improves borrower experience and speeds up funding. • Sync 1 Systems: Drives faster loan closures with borrower texts and secure document sync. • Temenos (LOS & Collections): Simplifies digital lending workflows and scales empathetic outreach for collections. • AKUVO: Automates empathetic outreach for collections. • DocuSign: Supports secure e-signatures. • MessagePay: Boosts engagement and reduces delinquency rates. • SWIVEL (An SWBC Company): Helps drive on-time payments. • Alkami: Connects with members on their terms and drives conversions. • Access Softek, CU*Answers, Lumin Digital, Mahalo Banking, Apiture: Digital banking integrations that boost agent productivity, scale service, and personalize support. • Salesforce Marketing Cloud and CRM: Maximizes first call resolution and secures interactions. • Smarsh and Jack Henry Synergy: Streamline content management and ensure compliance. • IDgo, illuma, Plaid: Provide instant and secure identity verification and account verification. These integrations address critical areas for community financial institutions, including core banking, lending, account opening, collections, customer relationship management, payments, and digital banking. Eltropy's open APIs allow for continued integration with a growing network of technology partners. Partnering with Eltropy offers several advantages for financial institutions: • Member Engagement: Personalize interactions to improve member experiences. • Operational Efficiency: Streamline workflows across member services, contact centers, marketing, and lending. • Scalable Solutions: Expand technology offerings with solutions designed for credit unions and community banks. • Innovative Partnership: Collaborate on solutions for financial institution challenges. • Growth and Revenue: Drive value through competitive referral and reseller programs. Eltropy remains focused on providing solutions that allow financial institutions to thrive in an evolving environment.
Finextra
an hour ago
- Finextra
Casca raises $29m for AI-based loan origination platform
AI-native loan origination platform Casca has raised $29 million in a Series A funding round led by Canapi Ventures. 0 Casca customers Live Oak Bank, Huntington National Bank, and Bankwell Bank joined the round, alongside Y Combinator and Peterson Ventures, bringing the startup's total funding to $33 million. Founded in 2023 by banking IT experts and AI researchers from Stanford University, Casca claims that its platform funds commercial loans up to 10 times faster than other fintechs and 30 times faster than industry averages. The new money will be used to scale its operations, expand its team, and accelerate go-to-market efforts. Neil Underwood, co-founder and general partner, Canapi Ventures, says: 'With Casca, local financial institutions become the lender of choice-offering more affordable rates and keeping capital within the community. It's a big step for banking, and we're proud to be part of it.'
