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2011 | OriginalPaper | Buchkapitel
The Era of Convergence in Revenue Management
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In the last 45 years, the airline industry has undergone an expansion unrivalled by any other form of public transport. This expansion has been driven by falling costs and fares, which has stimulated higher demand for services. High growth for the most part has also spelt low profits. While some airlines have consistently managed to stay in the black, the industry as a whole has been only marginally profitable. The long-term trend for air transport is declining fares (ICAO.int, 2009). As customers get accustomed to low fares this could have a significant impact on revenue. Consequently, performance improvement may have to come through sensitivity to costs and how they are managed.