Introduction to The Routledge Companion to Air Transport Management
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book looks at the paradox of sustained long-term growth and only marginal profitability in the global airline industry. It focuses on the European situation but also has relevance to other dense air traffic areas such as the US, and to areas experiencing rapid air traffic growth such as from the Middle East through to South East Asia and China. The book looks at the size of the global fleet and its geographical distribution. It traces the factors that led to deregulation and how deregulation in air transport may or may not be tied to other trade initiatives. The book highlights the business environment for airlines and airports before the opening up of the airline market. It concentrates on the formulation of airport business strategy. The book provides a comprehensive assessment of current issues and challenges in airport economics and finance.