A single ticket has never been a reason to come back

Airlines work on thin margins, and prices, demand and capacity all move at the same time. For most travellers, the relationship with a carrier is one booking at a time, and price usually wins. Loyalty programmes were meant to fix that, but Caravelo has a pointed view on how well they work. It argues that points have become opaque, tiers keep getting harder to reach, younger travellers are opting out, and what holds the system together is switching friction rather than genuine satisfaction. The company sums it up as the difference between lock-in and log-in.

Bringing the subscription economy to travel

Caravelo does one thing: subscriptions for travel. Its products help airlines grow revenue and market share, smooth out seasonality, and give travellers a reason to come back. There are three product lines:

• Trip Subscription: travellers pay a recurring fee for a set number of trips. This creates new demand, removes the need to shop around and keeps competitors out.
• Last-Minute Pass: turns seats that would otherwise fly empty into revenue, raising load factors and ancillary sales along the way.
• Club Subscription: a membership with perks or discounts that steers travellers who have already decided to fly toward booking direct.

All three run on the Caravelo platform. It is modular and plugs into an airline's existing systems, and it is white-label from end to end. Carriers set their own business rules by market and track performance through built-in dashboards.

The data behind the model

Caravelo now publishes its own evidence. Its State of Travel Subscriptions 2026 report analysed more than 600,000 subscription-powered flights across 200,000 travellers and six airline programmes, one of the largest behavioural studies of flight subscriptions ever carried out. One lesson from that work is to start simple. Caravelo points out that Netflix launched with a single flat-rate plan and only added tiers and features once customers trusted the core. Most airline subscriptions that launch overcomplicated end up simplifying later anyway.

Proven with airlines around the world

Caravelo's clients include Wizz Air, Volaris, Saudia, flyadeal, JetSMART and Air India Express, with expansion across 5 continents.

Built in Barcelona

Caravelo is based in Barcelona and is backed by investors and advisors who have run airlines themselves. The company's early work solving ticket changes for travellers gave its founders an unusually close look at how airlines operate. It also convinced them subscriptions could change the industry.

Why we backed Caravelo

Netflix, Spotify and your gym all worked out long ago that subscriptions keep people coming back. Airlines hadn't, and there was a reason: travel is complicated, and airline technology is harder still. Caravelo took on that complexity so airlines don't have to. It now has hundreds of thousands of subscription flights' worth of data showing what works. From Mexico to Saudi Arabia to India, the carrier list keeps getting longer. It's a clear example of Deep Domain Computation: software that only works because the team understands the industry inside out.