Straight and Level: Practical Airline Economics
'Straight and Level' uses a simple yet powerful model to explore linkages between the fundamentals of airline economics and the volatility of industry performance at the operating level. Part 1 of the book provides a strategic context within which to consider the industry's economics. Part 2 is structured around a model that relates operating revenue and operating cost; it examines the most important elements in demand and traffic, price and yield, output, and unit cost. Part 3 probes more deeply into three critical aspects of capacity management - network management; fleet management; and revenue management. Part 4 concludes the book by exploring relationships between unit revenue, unit cost, yield, and load factor. The author has rewritten, updated, and expanded the successful first edition. New sections have been added which link the economic fundamentals at the core of the book (covered in parts 2 and 3) to strategic context (explained in Part 1) and to performance outcomes (considered in Part 4). Extensive use is made of practical examples. 'Straight and Level' has been written primarily for masters-level students on aviation management courses; it should also be useful to advanced undergraduates. Amongst practitioners, it will appeal in particular to managers at the beginning of their careers and to established managers moving from functional posts into general management. More broadly, anyone wanting to gain an understanding of the economics of the airline industry at a practical level and an insight into the reasons for its financial volatility should find the book of interest.
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