The aviation industry is one of the most essential in a country and the global environment at large, not only for facilitation of movements of people across borders but also for the growth and development the tourism sector. This realization has led to many countries developing…
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It is important to note that in many countries, tourism has been taken as an important sector that has caused growth and development of the economies of these countries (Fan 2006, 92). In this understanding, many of these countries have developed proper infrastructure in order to attract people to visit various sites and scenes for the growth of their tourism industry.
The tourism industry has been offering various employment opportunities to people directly and indirectly. In this case, it has helped to achieve various micro and macroeconomic policies in these countries. People have exchange their cultures and learnt various things from those that come from various countries, underpinning the significance of the tourism industry.
Aviation services are inseparably interrelated with the tourism; it provides the essential links to the tourism destinations and gives straight and significant impacts in the business arena as well. As the general standard of living increases and the globalization goes by, the demand for overseas trip has been increasing (Davison & Ryley 2010, 437). Consequently, the importance of functionality of aviation services in tourism is being magnified these days. Due to the nature of the aviation industry, the overall profit structure of industry is inherently vulnerable to irregularity.
According to the IATA statistics, aviation industry has earned over $ 1 trillion in the last 60 years, but they have produced mere $ 32 billion as profit. In other words, an average profit margin is only 0.3 % (Smith 2009, 14). Moreover, Losses and profits fluctuate in accordance with the cyclical pattern. Under these unfavorable circumstances, the United States deregulation act has brought enormous changes in the airline industry. This has enabled aviation corporates to begin turning to the Low-Cost Carrier (LCC) market to secure profitability and competitiveness.
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The company has a unique business model of careful financial planning, control, efficient costing and a quick decision making process. Such unique business models have been known to ensure continued success in business organisations (Schein, E. H. 1980).
As the airline has tremendously reduced cost of tickets, the companies charge an extra cost for the foods, seat allocated and luggage of the traveller to help offset the low price of fare charged. The analysis of the operating structure of airlines with low cost or budget carriers has grown with growing interest in the business models of these kinds of carriers.
Although the tragic events that have taken place in the past, and those of recent years have had a major impact on the air transportation industry, low-cost airlines appear relatively immune to the changes and the environmental changes threatening traditional airlines.
It can be seen that the European airline industry has evolved from being dominated by large, business class air carriers to one which is increasingly controlled by budget airlines. The wide popularity and acceptance of budget air travel which has significantly increased air traffic and gave a boost to the tourism industry has began putting pressure on large airlines to create their own low profile brand in order to regain their market shares.
People from different corners of the world have used this modern technology that enables them to defy the boundaries, geographically and culturally that exists for centuries.
One of the most used and popular forms of communication technology is the internet.
The information collected through surveys has been analysed through SPSS software. Different methods and techniques have been used to derive the conclusions from the collected data.
In the first section, the frequency analysis has been
For example, in the United States, the legal working age is sixteen years, which coincides with the issue of driving licenses (Torgler, 2007, 113). Whereas in the United Kingdom children as young as thirteen years start working. In every country,
cluding a decrease in factory productions, people purchasing less goods, high rise in unemployment, an unhealthy stock or a sudden drop in the personal wages of workers leading to a scarcity of choice, and opportunity costs. A recession comes bearing grieve consequences since
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