Climbing Through the Clouds  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 400 no. 8741 (Jul. 2011), page 54-56.
Topik: Globalization; Airline Industry; Business Conditions; Consolidation; Economic Conditions; Acquisitions & Mergers; Global Economy

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.67 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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A history of regulation and government involvement has left the airline industry burdened by trade protection, inefficiency and excess capacity. Airlines helped to bring about globalisation, but their own industry is far from globalised. Instead of globe-spanning giants, the world has 230 flag-carriers and several dozen budget airlines. Even last year the industry's profit margins were not fat. Only those innovative low-cost carriers make decent money. Yet this old model is coming under pressure: consolidation of a sort is taking place at a regional or continental level. The rapid growth of Asian traffic is one reason for this. The rise of low-cost carriers born in liberalised markets is another. And over the past decade airlines have been buffeted by one external shock after another. As a result of all this consolidation on both sides of the Atlantic, Aviation Economics, a consultancy, says that this summer three virtually merged groupings will carry 73% of traffic across the ocean.

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