ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book explores the importance of market information to consumers and assesses the role of high-quality information as a key enabler of successful transport service provision. It outlines the different types and forms of passenger air operator, before examining the airline cost function and the main factors of production used in the production of passenger air services. Reform in the provision of transport services is not new. Richard Beeching was given the task in 1963 of making the then state-owned British Railways break even by 1980, which led to a high number of controversial line closures. The book also outlines the key components of principal-agent theory and by doing so clearly identifies the key issues that lie behind such contracts and in very clear and straightforward terms illustrates why such contracts can be difficult to draft, implement and 'get right'.
