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The Evolution of the US Airline Industry - Theory, Strategy and Policy (Paperback, Softcover reprint of hardcover 1st ed. 2005)
Loot Price: R2,881
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The Evolution of the US Airline Industry - Theory, Strategy and Policy (Paperback, Softcover reprint of hardcover 1st ed. 2005)
Series: Studies in Industrial Organization, 25
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For over three decades the airline industry has continued to
maintain a high profile in the public mind and in public policy
interest. This high profile is probably not surprising. There does
seem to be something inherently newsworthy about airplanes and the
people and companies that fly them. The industry was one of the
first major industries in the United States to undergo
deregulation, in 1978. It thereby transitioned from a closely
regulated sector (the former Civil Aeronautics Board tightly
controlled everyt thing from prices to routes to entry) to one that
is largely market oriented. The incumbent carriers transformed
themselves from the point-to-point operators that the CAB had
required to the hub-and-spokes structures that took better
advantage of their network characteristics. Further, they
transformed their pricing from the quite simple structures that the
CAB had required to the highly differentiated/segmented pricing
structures ("yield management") that reached an apogee in the late
1990s. Some ca arriers, like American, Delta, and United, were
better at this transition; others, like Pan American, TWA, and
Eastern, were not. What the incumbent carriers did not do, however,
was deal with their costly wage and work rules structures, which
were an enduring legacy of their regulatory period. This legacy,
when combined with the high-fare end of the yield-management
pricing structure, has made them vulnerable to entry by new
carriers with lower cost structures.
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