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Air travel has become an essential element of people’s daily life over the 20th century. Although there existed commercial airlines before the WWII, it was not until deregulations in the 1970s that gradually brought air fare to a level affordable to the public. Today, fierce competition among international and regional carriers, and high fuel price have made business condition difficult for airlines. These difficulties were highlighted by the event of 911, when the industry as a whole made no profit between 2001-2005. The recent merger between American Airlines and US Airways may be an indication of continuous struggle of airlines to sustain profitability. The rise of China and Asian airlines will be another important feature of the continuous evolution of the industry in the 21st century.
Industry Trends
Revenues and Costs
Challenges
Industry Forecasts and Projections
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