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About This Book
The airline industry is fundamental to the workings of the global economy. Yet, ironically for an industry of such sheer scale and economic muscle, profit margins are razor thin and many airlines struggle to break even. The precarious economics of the sector were fully revealed when Covid-19 grounded flights across the world. This newly updated second edition includes fresh material on cost structures, the pricing of add-on services, cargo, airport slot allocation and the impact of climate change regulations. It also considers the challenges that the sector now faces after the impact of such a large-scale external shock. The book offers a comprehensive introduction to the economics of airlines, how carriers compete, and how demand and cost structure, coupled with the complex regulatory regime, produces the industry we see today.