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Essay / Research Paper Abstract
This 5-page paper focuses on the causes of the current economic crisis in the airlines industry. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: AS43_MTairlcris.rtf
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Unformatted sample text from the term paper:
various levels of price for the same seat, with the result being that business travelers could be paying at least 10 times or more for a ticket then the leisure
travelers sitting next to them. The gravy train would go on forever, it seemed. But things changed when Saudi terrorists flew airplanes into
the World Trade Center and the Pentagon some years ago. At that point, an industry that had been seemingly invincible was now on shaky ground. In the wake of that
terrorist attack, airlines took a huge hit, seeing a lot of red ink on their books and going to the government for some bailout funds.
Experts have reason to believe that the airline industrys current woes actually date back to the terrorist attacks of September 11, 2001. Up until that time, the
industry as a whole had 24 consecutive profitable quarters (Blunk et al, 2006). But in the beginning of 2001, a mild recession took hold - and while this, in and
of itself, wasnt a problem, the terrorist attacks later that year pushed the industry into a financial crisis (Blunk et al, 2006). Following that, air travel dropped 20% during the
remainder of the year (Blunk et al, 2006). Many believe it never really came back all the way before the current crisis hit (Blunk et al, 2006). Between fall 2001
and fall 20008, the entire industry lost $30 billion, leading to bankruptcies and mergers (Peterson, 2008). Also putting stress on airlines is
the new security that has had to be implemented since 9/11 (Forbes, 2008). Granted, its the airports that have to pay for the security, but they take it out on
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