The airline industry has transformed possibilities for individuals and businesses: affordable air travel, along with digital telecommunications and trade liberalization, is one of the three chief drivers of globalization.
So while the industry has changed our world, it struggles to turn a profit: over the last 40 years the sector has achieved a 0.1% net profit margin.
According to the Financial Times, “airlines have specialised in shooting themselves in the foot by failing to control capacity in a desperate chase after market share”.
Read full story at: http://www.tnooz.com/article/airlines-beating-clock
