An Introduction to Airline Economics

An Introduction to Airline Economics

An Introduction to Airline Economics

An Introduction to Airline Economics

Synopsis

The fabric of the airline industry has continued to undergo remarkable changes since the 5th edition of this classic text was published in 1995. The industry has witnessed a series of mergers and a trend toward consolidation into fewer but larger airlines. Route patterns have been reconstructed around hub cities. In contrast to the early 1990s, which saw unprecedented operating deficits, the late 1990s have seen a swing to highly profitable operations, characterized by the forming of alliances among U.S. and foreign airlines. Revised substantially to cover these changes, this book is an excellent introduction to the economics of U.S. airline services, both domestic and international.

Excerpt

This book is an introduction to the economics of the airline service of the United States, both domestic and international, for the reader whose need is for a relatively simple, yet college-level, text. It is intended as a textbook for one-semester courses of the type becoming common in U.S. colleges today and bearing such titles as “Aviation Administration,” “Air Transportation,” or “Economics of Air Transportation.”

Since the appearance of the fifth edition in 1995, there has been a continuation of the remarkable changes in the fabric of the airline industry that have characterized the years since the rise of the deregulation movement in the mid-1970s. The gradual relaxation of government economic regulation of the airlines, especially with respect to their domestic services, was completed by 1985. Since then, the industry has seen a series of mergers and a general trend toward consolidation into fewer but larger airlines. Route patterns have been reconstructed about hub cities. The early 1990s saw unprecedented operating deficits, with two major carriers going out of existence, but the late 1990s, by contrast, have seen a swing to highly profitable operations. The late 1990s have also been characterized by the forming of “alliances” among United States and foreign airlines, often involving the buying of equity shares in one another. The sixth edition contains substantial revisions consistent with these changes, including complete rewriting of many portions.

As with previous editions, the sixth continues to emphasize plain English and to avoid the more obscure reaches of economics that can frighten away, or be downright unintelligible to, a student who has not

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