Of the different facets of airline marketing, none has changed further or faster in recent years than the question of appropriate pricing policies. Today’s airline managers must apply skills that were either unknown to or not needed by their predecessors, and where some of the fundamentals that have served the industry well are being brought into question. It is also a high profile area, where mistakes can result in large losses in a very short time. This is especially the case during times of recession and overcapacity. Fortunately, new tools have appeared to help carriers, in the form of sophisticated revenue management systems.