The failure of aviation, or at least of airlines, to produce a reasonable rate of return on investments has been a fact pondered by many at great length. This book looks at how the industry managed to survive. It details the historical performance of the industry and explores the various theories proposed to explain its lack of profitability. Seemingly since the beginning of aviation history there has been discussion and speculation on the remarkable inability of the industry to generate profits. The question as to how this is the case and how the industry managed to survive, let alone…mehr
The failure of aviation, or at least of airlines, to produce a reasonable rate of return on investments has been a fact pondered by many at great length. This book looks at how the industry managed to survive. It details the historical performance of the industry and explores the various theories proposed to explain its lack of profitability.Seemingly since the beginning of aviation history there has been discussion and speculation on the remarkable inability of the industry to generate profits. The question as to how this is the case and how the industry managed to survive, let alone actually grow and prosper so far, is the subject of this book. Detailing the historical performance of the industry and critically exploring the various theories proposed to explain its lack of profitability, the book also looks to the future, with important recommendations regarding the better management of airlines.
Adam M. Pilarski is Senior Vice President of AVITAS, USA. He joined the company in 1997 after 17 years as an economist with Douglas Aircraft Company to oversee its valuation and consulting services. He is also responsible for supporting customers with studies including traffic forecasts, economic forecasts, statistical analyses, strategic planning and airline industry issues. As Douglas Aircraft Company's Chief Economist and Director of Strategic Planning he was responsible for all economic analyses performed for the company and was the publisher and editor of the annual "Outlook" publications. Prior to joining Douglas, Dr. Pilarski worked as Assistant Professor of Economics and Statistics at California State University, Los Angeles. In addition to his work at McDonnell Douglas, he was an Adjunct Professor at the Anderson Graduate School of Management at the University of California at Los Angeles, at the University of California at Irvine, and at California State University at Long Beach.
Inhaltsangabe
Contents: Preface Introduction Part I How Bad Is It?: Reality of losses Decomposing the elements of losses Forecasting. Part II Reasons for Losses: Nature of the Beast (Exogenous Factors): Cyclicality Ease of access to capital Cost of aircraft Too much competition and the need for consolidation Sexy industry drawing in dreamers and suckers. Part III Reason for Losses: Self Inflicted (Endogenous Factors): Labor Bad Management Pricing. Part IV Reason for Losses: Overregulation: Government regulation Public ownership of airlines. Part V How Can the Industry be Profitable?: Prescription for health Summary and conclusions Index.
Contents: Preface Introduction Part I How Bad Is It?: Reality of losses Decomposing the elements of losses Forecasting. Part II Reasons for Losses: Nature of the Beast (Exogenous Factors): Cyclicality Ease of access to capital Cost of aircraft Too much competition and the need for consolidation Sexy industry drawing in dreamers and suckers. Part III Reason for Losses: Self Inflicted (Endogenous Factors): Labor Bad Management Pricing. Part IV Reason for Losses: Overregulation: Government regulation Public ownership of airlines. Part V How Can the Industry be Profitable?: Prescription for health Summary and conclusions Index.
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