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The Evolution of the Airline Industry »
Authors: Steven A. Morrison, Clifford Winston
ISBN-13: 9780815758433, ISBN-10: 081575843X
Format: Paperback
Publisher: Brookings Institution Press
Date Published: November 1995
Edition: (Non-applicable)
Author Biography: Steven A. Morrison
Book Synopsis
'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)
Table of Contents
| Part 1 | Overview | |
| 1. | Introduction | 3 |
| 2. | A Profile of the Airline Industry | 6 |
| Industry Structure | 7 | |
| Fares | 11 | |
| Service Quality | 19 | |
| Profits | 28 | |
| Safety | 31 | |
| Implications | 33 | |
| Appendix | 34 | |
| Part 2 | Analysis | |
| 3. | Organizational and Methodological Overview | 39 |
| 4. | Airline Behavior and Traveler Welfare | 43 |
| Impediments to Competition | 43 | |
| Patterns of Price Leadership | 67 | |
| The Welfare Cost of Fare Restrictions | 78 | |
| Summary | 82 | |
| Appendix | 83 | |
| 5. | Airline Profitability | 90 |
| The Cost of Forecast Errors | 91 | |
| The Determinants of Individual Airline Profitability | 96 | |
| Bankruptcy, Multimarket Contact, and Industry Profitability | 105 | |
| Conclusion | 115 | |
| Appendix | 116 | |
| 6. | Industry Evolution | 128 |
| Airline Fares and Market Entry and Exit | 128 | |
| The International Dimension | 147 | |
| Toward Long-Run Equilibrium | 150 | |
| Conclusion | 154 | |
| Appendix | 154 | |
| 7. | Policy Implications | 159 |
| Government Intervention | 160 | |
| Infrastructure | 160 | |
| Open Skies | 162 | |
| Conclusion | 162 | |
| Index | 164 | |
| Tables | ||
| U.S. Scheduled Airline Enplanements, Passenger Miles, Revenues, and Employees, Selected Years, 1926-93 | ||
| Enplanements, Passenger Miles, Average Length of Haul, and Revenue, by Major Carrier, 1993 | ||
| U.S., North American, and World Airline Industry Average Fares per Passenger Mile (Yield), 1969, 1980, 1990, 1991 | ||
| Operating Profit Margins, Selected Airlines, 1970-93 | ||
| Share of Enplanements of the Dominant Carrier at Concentrated Hub Airports, 1978, 1993 | ||
| Airline Choice Model Estimates | ||
| Estimated Change in Market Share from Elimination of All Frequent Flier Programs, by Airline, 1990 | ||
| Change in Market Share If One Carrier's Frequent Flier Program Were Eliminated While Other Carriers Maintained Their Programs, 1990 | ||
| Computer Reservation System Ownership | ||
| Effects of Computer Reservation Systems' Bias on Traveler Welfare and Airline Revenues | ||
| Effects of Computer Reservation Systems' Bias on Distribution of Revenue among Airlines, Base Case | ||
| Share 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, 1978-91 | ||
| Extent of Causality Airlines Have at Their Hubs and Overall, by Airport, 1978-91 | ||
| Probit Analysis of Factors Affecting Causality, by Airline | ||
| Factors Influencing Fares | ||
| Factors Influencing Traveler Choice of Airline Ticket | ||
| Annual Gains to Travelers from Airline Deregulation | ||
| Results of Tests for Unit Roots for Average Fare | ||
| Share of Causality Tests Exhibiting Granger Causality, Sensitivity of Findings | ||
| Estimated Effects of Airline Industry Factors and Other Factors on Airlines' Annual Rates of Return, 1970-88 | ||
| Average Annual Changes in Three Least Profitable Airlines' Profits If They Had Characteristics of Three Most Profitable Airlines, 1980-88 | ||
| Estimated Effect of Airline Bankruptcies on Industry Revenue, by Bankrupt Airline, 1983-93 | ||
| Estimated Effect of Airline Bankruptcies on Revenues, by Airline Affected | ||
| Estimated Effect of Bankrupt Airlines, by Occurrence, on Revenue of Three Healthy Airlines | ||
| Estimated Effect of Bankrupt Carrier on Fares of Three Healthy Carriers and Share of Healthy Carriers' Revenue in Markets Where They Compete with Bankrupt Carriers | ||
| Effect of Individual Multimarket Contact on Airline Revenue, by Airline, 1992 | ||
| Effect of All Multimarket Contact on Airline Revenue, by Airline, 1979-92 | ||
| Bankruptcy Regression Coefficients, by Carrier | ||
| Effect of Bankruptcies on Airline Industry Profits | ||
| Multimarket Contact Regression Coefficients, by Airline | ||
| Estimated Effects on an Airline's Fare of the Presence of Another Airline on a Given Route | ||
| Estimated Determinants of an Airline's Decision to Provide Direct Service on a Given Route | ||
| Estimated Determinants of an Airline's Decision to Exit a Given Route | ||
| Estimated Change in Fares, Airlines per Route, and Market Shares When One or More Airlines Exits the Industry, by Airline, Twenty Quarters after Exit | ||
| Estimated Change in Fares, Airlines per Route, and Market Shares Caused by Selected Mergers, One and Twenty-One Quarters after Merger | ||
| Estimation Results of Fare Equations, by Airline | ||
| Sensitivity Tests of Simulation Results | ||
| Figures | ||
| Airline Industry Effective Competitors, National Level, 1978-93 | ||
| Airline Industry Effective Competitors, Route Level, 1978-93 | ||
| Domestic Airline Average Fare per Passenger Mile (Yield), 1970-93 | ||
| Airline Industry Average Fare per Passenger Mile (Yield), Actual under Deregulation and Projected under Regulation, 1978-93 | ||
| Distribution of Fares Travelers Paid Relative to Their Route's Average Fare, Fourth Quarter 1978, 1985, 1993 | ||
| Effect of an Additional Competitor on the Spread of Airline Fares on a Route, Fourth Quarter 1978 to Fourth Quarter 1993 | ||
| Change in Domestic Air Fares, by Route Distance, Fourth Quarter 1978 to Fourth Quarter 1993 | ||
| Distribution of Domestic Air Fares Relative to Projected Regulated Fares, Fourth Quarter 1993 | ||
| Share of All Passengers on Domestic Flights Who Needed to Make Connecting Flights, 1978-93 | ||
| Excess of Actual Distance Flown over Shortest Possible Distance to Destination, Domestic Trips, 1978-93 | ||
| Change in Components of Total Flight Time, Domestic Flights, by Flight Distance, 1978-93 | ||
| Change in Components of Total Flight Time, Domestic Flights, 1978-93 | ||
| Share of Airline Seats Filled by Paying Passengers (Load Factor), 1970-93 | ||
| Share of Airline Seats Filled by Paying Passengers, by Distance, Domestic Flights, 1978, 1993 | ||
| Scheduled Airline Operating Profit Margin for Domestic and International Services, 1970-93 | ||
| Chance of Death per Million Air Carrier Departures, 1975-93 | ||
| Yield Premiums at Fifteen Concentrated Hub Airports under Two Methods of Determination, 1978-93 | ||
| Predicted GDP Minus Actual GDP, Eight-Year Lag, Two-Year Lead, 1950-93 | ||
| Change in Airline Industry Average Fares Caused by Multimarket Contacts, 1979-92 | ||
| Estimated Effects of Multimarket Contacts on Fares, 1979-92 | ||
| Connecting and Direct Routes Served, Southwest Airlines, 1979-93 | ||
| Connecting and Direct Routes Served, American Airlines, 1978-93 | ||
| Connecting and Direct Routes Served, USAir, 1978-93 | ||
| Connecting and Direct Routes Served, Delta Airlines, 1978-93 | ||
| Connecting and Direct Routes Served, United Airlines, 1978-93 | ||
| Estimated Effect on Fares of Exit from Airline Industry by Continental, America West, and TWA | ||
| Indexes of Real Revenues and Costs per Revenue-Ton Mile, 1970-93 |
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