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DescriptionStormy Skies: Airlines in Crisis by Paul Clark English | PDF | ISBN-10: 0754678873 | ISBN-13: 978-0754678878 September 28, 2010 | Routledge  Engineering, Aerospace CONTENTS Cover Contents List of Figures Note on Chapter Titles Acknowledgements Preface 1 ‘I Should Have Known Better’: A History of Crisis and Prediction 2 ‘Tomorrow Never Knows’: Forecasting Aircraft Capacity 3 ‘Love Me Do’: The Changing Nature of Traveller Expectations 4 ‘I Want To Hold Your Hand’: Airline Consolidation 5 ‘You Never Give Me Your Money’: Pricing and Revenue Management 6 ‘With a Little Help From My Friends’: Social Media 7 ‘Strawberry Fields Forever’: The Environment 8 ‘Here Comes the Sun’: 20–20 Vision Index Excerpt: Hindsight is a wonderful thing. yet it is an immutable fact that business leaders, analysts, politicians, soothsayers and gurus throughout the developed world failed to anticipate the impact of the latest economic crisis. more and more countries slipped into recession at the end of 2008 and it seemed as though we were all taken by surprise. it is human nature to conveniently overlook our failings to see the obvious. However, if we take a good look at history we should be prepared to admit that this crisis, like many before, was as inevitable as night follows day. this chapter sets out to appraise the specific events that have regularly dragged the airline business into crisis. We shall see that although previous crises have been very different in nature, a definite pattern of rise and collapse is apparent. the airline industry is particularly vulnerable to the swings and roundabouts of the global economic system. it walks a permanent tightrope of wafer-thin margins, costs that are increasingly beyond management’s realistic control and a demand for its services that is hard to predict. if this were not enough, the cocktail of risk is peppered by the highly competitive nature of the airline business, which drives prices down and leads individual players into endless forays of product investment to keep a grip on market share. even if we lay aside the spectre of the recession, the airline business is constantly vulnerable to a plethora of potential mini- shocks to the system. Political upheavals, terrorist activity, wars or outbreaks of disease can snap at the heels of airline profits at any time. Sharing Widget |