ABSTRACT
Lacking access to a crystal ball, this chapter does not attempt to predict the future for individual airlines already in being or yet to come. Rather, it seeks to learn from situations that have arisen in the recent past, and to do so in the light of trends that are already under way and seem likely to persist for a while yet. The focus is on changes in market structure and airline practices, rather than on short term fluctuations in macroeconomic conditions and other magnitudes that drive frequent changes in profitability.
