ABSTRACT
Recession is when you tighten your belt. Depression is when you no longer have a belt to tighten. When you've lost your trousers, you're in the airline business.
Adam Thomson
Chapter overview
The purpose of this chapter is not to list operational performance metrics, but to bring together at a macro-level the economic fimdamentals discussed in previous chapters. The opening section will discuss operating performance in general; the main body of the chapter will look at relationships between unit revenue (revenue per ASM or RASM), unit cost (cost per ASM or CASM), yield (revenue per RPM), and load factor (traffic as a percentage of output).
