GIVT RECAPS ITS RAPID INTERNATIONAL GROWTH AT THE END OF ITS SECOND SUMMER SEASON

GIVT press release

GIVT, an international technology platform supporting passengers in enforcing their rights from airlines under EU Regulation (EC) 261/2004, has more than doubled its revenue for January-August 2019 as compared to the same period a year earlier. Following a successful implementation of the service throughout the EU, GIVT plans to continue to build on its already strong international standing.

GIVT is growing at a very brisk pace. Since entering the markets of all EU member states just over a year ago, its customer-base grew from January to August 2019 by nearly 150% as compared to the same period in the preceding year. Currently, GIVT serves its customers in nine languages (Bulgarian, English, French, German, Italian, Polish, Portuguese, Romanian and Spanish), which allows them to service customers from all over Europe.

“After building a platform that has been in operation for 2 years now, our growth focuses on improving service procedures based on Machine Learning, automation and continuous work on raising the standards of our customer service to an unprecedented level. It is also of crucial importance to us that we succeed in our litigation efforts and continue to win cases on behalf of our customers. When we decide to file a lawsuit, we carefully analyze each case taking into account all of the data available. So far, we have not lost a single case in court! The strategy used by some airlines to avoid compensation payments to their clients are not justified by law and ultimately the airlines are faced with having to incur much higher costs. We are working on raising awareness and understanding of EU regulations both amongst our customers and the airlines we liaise with. We have had quite a few accomplishments in this area, as well”, says Jacek Podoba, CEO and founder of GIVT.

A group of experienced investors, including Zaleski family and Helene Zaleski – Chairman of the Supervisory Board, provided the company with financing for the next stages of its development. A large part of this investment, in addition to further international growth, is being allocated by GIVT for building advanced flight evaluation models based on Big Data. GIVT Polska, which is responsible for technology development, has been working on the project “Adaptive Flight Forecasting and Scoring System” since autumn 2018, which is financially supported by EU funds. The system is designed to forecast disruptions of passenger flights in real time (delays, cancellations, diversions to other airports) and automatically classify the causes of such disruptions. The aviation market is not slowing down. Based on a long-term forecast concerning the number of flights by 2040 published by Eurocontrol, the number of flights will increase by 53% by 2040 (to 16.2 million flights per year). The number of passengers is also expected to grow. Currently, it is approx. 1.7 trillion annually; however, by 2040 the number of passengers may easily have reached over 2.5 trillion. Furthermore, in the same report, Eurocontrol points out that there has been no improvement in airport capacity for approx. 1.3 million passenger flights, and consequently for 160 million passengers in 2040. If these forecasts are accurate, a considerable number of passengers may experience problems with reaching their destinations by air.


Media contact

media@givt.com  

About GIVT

We seek compensation from air carriers for delayed or cancelled flights and in cases when air travellers are denied boarding. We act fast and efficiently, and we follow transparent rules. To make the process of obtaining compensation for our clients, we focus on advanced technology, task automation systems, machine learning, and advanced Big Data. GIVT has attracted experts with expertise in several sectors, including aviation, finance, modern technology, consulting, digital marketing, and legal services. givt.com