The Evolution of the Airline Industry
'This book presents a remarkable broad and objective survey of the state of the airline industry. Many analytical techniques not previously applied to airline date are used, as well as some remarkably original and intriguing databases. The resulting analyses are interesting, original, provocative, and technically well executed.'John R. Meyer
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'This book presents a remarkable broad and objective survey of the state of the airline industry. Many analytical techniques not previously applied to airline date are used, as well as some remarkably original and intriguing databases. The resulting analyses are interesting, original, provocative, and technically well executed.'John R. Meyer Booknews A comprehensive reference that includes not only discussions of basic disease processes and differential diagnosis, but also key information on the role of the consultant, patient disposition, indications for admissions, acceptable alternatives to admission (e.g., outpatient treatment), guidelines for transfer, medicolegal issues and clinical pitfalls. This revised edition (first was 1991) adds two new sections: Essentials of Administrative and Clinical Issues in Emergency Medicine, and Essentials of Diagnostic Imaging and the Laboratory. A new appendix enhances rapid location of essential material. Annotation c. Book News, Inc., Portland, OR (booknews.com)
Part 1Overview1.Introduction32.A Profile of the Airline Industry6Industry Structure7Fares11Service Quality19Profits28Safety31Implications33Appendix34Part 2Analysis3.Organizational and Methodological Overview394.Airline Behavior and Traveler Welfare43Impediments to Competition43Patterns of Price Leadership67The Welfare Cost of Fare Restrictions78Summary82Appendix835.Airline Profitability90The Cost of Forecast Errors91The Determinants of Individual Airline Profitability96Bankruptcy, Multimarket Contact, and Industry Profitability105Conclusion115Appendix1166.Industry Evolution128Airline Fares and Market Entry and Exit128The International Dimension147Toward Long-Run Equilibrium150Conclusion154Appendix1547.Policy Implications159Government Intervention160Infrastructure160Open Skies162Conclusion162Index164TablesU.S. Scheduled Airline Enplanements, Passenger Miles, Revenues, and Employees, Selected Years, 1926-93Enplanements, Passenger Miles, Average Length of Haul, and Revenue, by Major Carrier, 1993U.S., North American, and World Airline Industry Average Fares per Passenger Mile (Yield), 1969, 1980, 1990, 1991Operating Profit Margins, Selected Airlines, 1970-93Share of Enplanements of the Dominant Carrier at Concentrated Hub Airports, 1978, 1993Airline Choice Model EstimatesEstimated Change in Market Share from Elimination of All Frequent Flier Programs, by Airline, 1990Change in Market Share If One Carrier's Frequent Flier Program Were Eliminated While Other Carriers Maintained Their Programs, 1990Computer Reservation System OwnershipEffects of Computer Reservation Systems' Bias on Traveler Welfare and Airline RevenuesEffects of Computer Reservation Systems' Bias on Distribution of Revenue among Airlines, Base CaseShare of Airline Competitive Pairs in Which One Airline Has Caused Another's Fare (Causality), Base Case with Average Fare, 10 Percent Significance Level, One Lag, 1978-91Extent of Causality Airlines Have at Their Hubs and Overall, by Airport, 1978-91Probit Analysis of Factors Affecting Causality, by AirlineFactors Influencing FaresFactors Influencing Traveler Choice of Airline TicketAnnual Gains to Travelers from Airline DeregulationResults of Tests for Unit Roots for Average FareShare of Causality Tests Exhibiting Granger Causality, Sensitivity of FindingsEstimated Effects of Airline Industry Factors and Other Factors on Airlines' Annual Rates of Return, 1970-88Average Annual Changes in Three Least Profitable Airlines' Profits If They Had Characteristics of Three Most Profitable Airlines, 1980-88Estimated Effect of Airline Bankruptcies on Industry Revenue, by Bankrupt Airline, 1983-93Estimated Effect of Airline Bankruptcies on Revenues, by Airline AffectedEstimated Effect of Bankrupt Airlines, by Occurrence, on Revenue of Three Healthy AirlinesEstimated Effect of Bankrupt Carrier on Fares of Three Healthy Carriers and Share of Healthy Carriers' Revenue in Markets Where They Compete with Bankrupt CarriersEffect of Individual Multimarket Contact on Airline Revenue, by Airline, 1992Effect of All Multimarket Contact on Airline Revenue, by Airline, 1979-92Bankruptcy Regression Coefficients, by CarrierEffect of Bankruptcies on Airline Industry ProfitsMultimarket Contact Regression Coefficients, by AirlineEstimated Effects on an Airline's Fare of the Presence of Another Airline on a Given RouteEstimated Determinants of an Airline's Decision to Provide Direct Service on a Given RouteEstimated Determinants of an Airline's Decision to Exit a Given RouteEstimated Change in Fares, Airlines per Route, and Market Shares When One or More Airlines Exits the Industry, by Airline, Twenty Quarters after ExitEstimated Change in Fares, Airlines per Route, and Market Shares Caused by Selected Mergers, One and Twenty-One Quarters after MergerEstimation Results of Fare Equations, by AirlineSensitivity Tests of Simulation ResultsFiguresAirline Industry Effective Competitors, National Level, 1978-93Airline Industry Effective Competitors, Route Level, 1978-93Domestic Airline Average Fare per Passenger Mile (Yield), 1970-93Airline Industry Average Fare per Passenger Mile (Yield), Actual under Deregulation and Projected under Regulation, 1978-93Distribution of Fares Travelers Paid Relative to Their Route's Average Fare, Fourth Quarter 1978, 1985, 1993Effect of an Additional Competitor on the Spread of Airline Fares on a Route, Fourth Quarter 1978 to Fourth Quarter 1993Change in Domestic Air Fares, by Route Distance, Fourth Quarter 1978 to Fourth Quarter 1993Distribution of Domestic Air Fares Relative to Projected Regulated Fares, Fourth Quarter 1993Share of All Passengers on Domestic Flights Who Needed to Make Connecting Flights, 1978-93Excess of Actual Distance Flown over Shortest Possible Distance to Destination, Domestic Trips, 1978-93Change in Components of Total Flight Time, Domestic Flights, by Flight Distance, 1978-93Change in Components of Total Flight Time, Domestic Flights, 1978-93Share of Airline Seats Filled by Paying Passengers (Load Factor), 1970-93Share of Airline Seats Filled by Paying Passengers, by Distance, Domestic Flights, 1978, 1993Scheduled Airline Operating Profit Margin for Domestic and International Services, 1970-93Chance of Death per Million Air Carrier Departures, 1975-93Yield Premiums at Fifteen Concentrated Hub Airports under Two Methods of Determination, 1978-93Predicted GDP Minus Actual GDP, Eight-Year Lag, Two-Year Lead, 1950-93Change in Airline Industry Average Fares Caused by Multimarket Contacts, 1979-92Estimated Effects of Multimarket Contacts on Fares, 1979-92Connecting and Direct Routes Served, Southwest Airlines, 1979-93Connecting and Direct Routes Served, American Airlines, 1978-93Connecting and Direct Routes Served, USAir, 1978-93Connecting and Direct Routes Served, Delta Airlines, 1978-93Connecting and Direct Routes Served, United Airlines, 1978-93Estimated Effect on Fares of Exit from Airline Industry by Continental, America West, and TWAIndexes of Real Revenues and Costs per Revenue-Ton Mile, 1970-93
\ BooknewsA comprehensive reference that includes not only discussions of basic disease processes and differential diagnosis, but also key information on the role of the consultant, patient disposition, indications for admissions, acceptable alternatives to admission (e.g., outpatient treatment), guidelines for transfer, medicolegal issues and clinical pitfalls. This revised edition (first was 1991) adds two new sections: Essentials of Administrative and Clinical Issues in Emergency Medicine, and Essentials of Diagnostic Imaging and the Laboratory. A new appendix enhances rapid location of essential material. Annotation c. Book News, Inc., Portland, OR (booknews.com)\ \
