MUMBAI, India, July 24 -- Intellectual Property India has published a patent application (202411095449 A) filed by Lovely Professional University on December 04, 2024, for Dynamic Airline Ticketing System And Method Using Financial Option Pricing Models.
Inventor includes Amir Ahmad Dar.
The application for the patent was published on July 17, 2026, under issue no. 29/2026.
Abstract: The present invention relates to a dynamic airline ticketing system that leverages financial option pricing models to enhance flexibility and efficiency in ticket booking. The system comprises a financial contract framework that treats airline ticket bookings as call options, allowing travellers to pay a premium for the right to purchase a ticket at a later date without obligation. A premium payment mechanism facilitates the upfront premium transaction, while a Binomial Option Pricing Model (BOPM) integration calculates the premium and strike price based on current ticket prices, expected volatility, and time until travel. An option exercise responsibility component enables travellers to decide on ticket purchase by a maturity date, and a dynamic seat allocation system optimizes seat utilization by reallocating seats if the option is not exercised. The system includes cancellation fee adjustments, contract management, notifications, and a mobile app for market-driven ticketing.
Disclaimer: Curated by HT Syndication.
