Airline Revenue Management is a strategy used by airlines to maximize their income from ticket sales. It involves analyzing data on customer demand, booking patterns, and market trends to set prices that can change frequently. By adjusting fares based on factors like time until departure and seat availability, airlines aim to fill as many seats as possible while also maximizing revenue. This approach often includes offering different fare classes and restrictions, allowing airlines to cater to various customer segments. For example, business travelers may pay higher prices for flexibility, while leisure travelers might book earlier for lower fares.