What are the three structured components of the airline industry?
The airlines industry is structured into three main components: commercial, general, and military. Commercial aviation includes national carriers such as Delta and American, and regional carriers like GoJet and SkyWest Airlines.
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The airline industry has three key characteristics. First, the demand for air services, whether for passengers or freight, is a derived demand.Second, the product is very homogenous and, third, it cannot be stored.
Flight Operations - These including dispatch, flight planning, flight watch, weather data provision, operations control, ground to air communications and integration with crew, schedules and maintenance planning. Gate allocation, slot control, ATC and airport management can also be covered.
The demand for air travel depends on several factors, such as income, preferences, prices, substitutes, and complementary goods. Income is a key determinant of demand, as air travel is a normal good that increases with higher income levels.