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How the Rising Cost of Fuel Has Affected Air Travel - Research Paper Example

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How the Rising Cost of Fuel Has Affected Air Travel Abstract Air travel is crucial to the everyday life of every person both directly and indirectly. There are also numerous challenges facing the air travel industry touching on travellers, airline operators and other allied sectors…
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How the Rising Cost of Fuel Has Affected Air Travel
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Download file to see previous pages This is in the form of efficiency, cutting costs and passing on the costs to travellers. Introduction The rising cost of fuel prices has significant effects on the air travel industry in multiple ways affecting airlines, travellers and other allied sectors. In most ways, the industry has experienced numerous negative impacts as compared to positive impacts. This is to the extent of having some airlines pulling out of certain markets altogether or even quitting the industry altogether. This paper seeks to discuss the impacts of high fuel costs on air travel and its effects to the industry. Recent studies in the airline industry have seen the cost of fuel rise as a result of trends in the world oil prices. As a result, airlines have experienced increased operating costs due to issues of efficiency in fuel consumption and environmental taxes, as well as caps. This way, airlines have sustained increased costs of operation that have affected air travel significantly in regard to the aircraft acquired and expansion programmes (Cranfield University, n.d). In regard to the acquisition of new aircraft to be used in air travel, the high fuel costs have resulted in improved fuel efficiency. This is in the form of having airplanes with fuel-efficient engines that bring down the amount consumed over a given distance (Cranfield University, n.d). ...
Moreover, another field affected in air travel, in reference to the increase in fuel prices, is the expansion of long haul and decline of short haul services (Cranfield University, n.d.). This is following frequent upgrade to aircrafts that have better fuel efficiency as compared to older fleets. Due to the high costs of fuel, the industry is able to adapt accordingly to bring down the costs of operation; and keep up with the ever-rising fuel prices and allowing air travel to cover greater distances with more capacity, and with lesser fuel consumption. Thus, due to high fuel prices, airlines have opted to focus on revenue management strategies to cut all costs of operation. In this case, the high fuel costs have been placed on the traveller to shoulder the burden, in the fare; they pay for the usage of air transport. However, some, instead of passing the cost of fuel directly on to the passengers, they have chosen to have value added services that are optional for the traveller (US Bureau of Labour Statistics, 2012). The services could be in the form of meals offered on board and are gladly accepted and paid for accordingly. In addition, services and costs that cater for fuel are in the form of the service that the passenger would like, such as flying business or economy class and all fees charged for reservation and cancellation of tickets (US Bureau of Labour Statistics, 2012). Thus, the cost of travel has gone high as a result of the levies that are passed on to the traveller. Still on high fares, travellers have, in recent times following high fuel prices, had to pay more for the cost of their luggage. This contributes to the overall cost of travelling by air through charges for hand luggage, overweight luggage and oversize baggage. In ...Download file to see next pagesRead More
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