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ROUTLEDGE REVIVALS
ROUTLEDGE REVIVALS
Routledge Revivals is an initiative aiming to re-issue a wealth of academic works which
have long been unavailable. Encompassing a vast range from across the Humanities and
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ISBN 978-1-138-71190-7
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Straight and Level:
Stephen Holloway
Routledge Revivals
Straight and Level:
Practical Airline Economics
Stephen Holloway
STRAIGHT AND LEVEL: PRACTICAL AIRLINE ECONOMICS
For Captain David Holloway
and in memory of Squadron Leader Richard Holloway
Straight and Level:
Practical Airline Economics
STEPHEN HOLLOWAY
First published 2003 by Ashgate Publishing
Reissued 2018 by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
711 ThirdAvenue, New York, NY 10017, USA
Routledge is an imprint of the Taylor & Francis Group, an informa business
Copyright © Stephen Holloway 2003
Stephen Holloway has asserted his moral right to be identified as the author of this
work in accordance with the Copyright, Designs and Patents Act, 1988.
All rights reserved. No part of this book may be reprinted or reproduced or utilised
in any form or by any electronic, mechanical, or other means, now known or
hereafter invented, including photocopying and recording, or in any information
storage or retrieval system, without permission in writing from the publishers.
Notice:
Product or corporate names may be trademarks or registered trademarks, and are
used only for identification and explanation without intent to infringe.
Publisher's Note
The publisher has gone to great lengths to ensure the quality of this reprint but
points out that some imperfections in the original copies may be apparent.
Disclaimer
The publisher has made every effort to trace copyright holders and welcomes
correspondence from those they have been unable to contact.
A Library of Congress record exists under LC control number: 2002043970
ISBN 13: 978-1-138-71190-7 (hbk)
ISBN 13: 978-1-315-19884-2 (ebk)
Contents
Figures and Tables
Foreword by Maurice Flanagan
Preface
Acknowledgements
Abbreviations and Definitions
xi
xiii
xv
xvi
xvii
Part 1: Strategic Context
1
1. Economics and Strategy
Alternative perspectives on the nature of organizations
Representing the external environment
Organizational objectives
Organizational decision-making
Conclusion
Economics and strategy
What is a strategy?
The field of strategy
Summary
Cost advantage, benefit advantage, and customer value
Customer value
The value chain
The rest of the book
Summary
3
3
4
5
7
8
8
9
10
22
23
24
37
38
40
Part 2: Operating Performance Drivers
41
2.
45
46
47
47
Traffic