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Introduction to Air Transport Economics: From Theory to Applications uniquely merges the institutional and technical aspects of the aviation industry with their theoretical economic underpinnings. In one comprehensive textbook it applies economic theory to all aspects of the aviation industry, bringing together the numerous and informative articles and institutional developments that have characterized the field of airline economics in the last two decades as well as adding a number of areas original to an aviation text. Its integrative approach offers a fresh point of view that will find favor with many students of aviation. The book offers a self-contained theory and applications-oriented text for any individual intent on entering the aviation industry as a practicing professional in the management area. It will be of greatest relevance to undergraduate and graduate students interested in obtaining a more complete understanding of the economics of the aviation industry. It will also appeal to many professionals who seek an accessible and practical explanation of the underlying economic forces that shape the industry. The second edition has been extensively updated throughout. It features new coverage of macroeconomics for managers, expanded analysis of modern revenue management and pricing decisions, and also reflects the many significant developments that have occurred since the original’s publication. Instructors will find this modernized edition easier to use in class, and suitable to a wider variety of undergraduate or graduate course structures, while industry practitioners and all readers will find it more intuitively organized and more user friendly.
This book embarks on a contemporary analysis of the interaction of economics and law relating to air transport, delving into the major issues that plague the industry. It shows how some of the thorny and frustrating issues could be approached sensibly. Among the issues discussed are the anomaly of exponential growth of air transport which makes airline profitability continue to be poor; the legislative impediments in most countries that preclude direct foreign investment in the industry; the confounding and muddled mess behind the economics of aircraft engine emissions; and the inexplicable reality that, although civil aviation is primarily meant to meet the needs of the people of the world, State regulators have upended the equation and given priority to national interests over the interests of the passenger. The book will be of interest to economists and lawyers alike who deal with air transport issues, and also to academics and students in the area of transportation as well as regulators and airlines.
Every ten years ICAO holds a worldwide air transport conference. The most recent such event - the 6th Worldwide Air Transport Conference (ATConf/6) - was held in Montreal from 18 to 22 March 2013. The questions posed by this book are: are the “clerical and administrative tasks” for ICAO which were decided on by ATConf/6 (and other preceding conferences) sufficient to meet the needs of the people of the world for safe, regular, economical and efficient air transport? Should ICAO not think outside of its 67-year-old box and become a beacon to air transport regulators? In other words, shouldn’t the bottom line of ICAO’s meaning and purpose in the field of air transport be to analyze trends and guide the air transport industry instead of continuing to merely act as a forum for global practitioners to gather and update information on their respective countries’ policies for air transport? Shouldn’t ICAO provide direction, as do other agencies of the United Nations? This book addresses ICAO’s inability, unlike most other specialized agencies in their missions, to make a tangible difference in air transport development, through a discussion of key issues affecting the air transport industry. It also inquires into the future of air transport regulation. ​