But, at some point over the last three or so decades, the associations of bold grandeur surrounding aviation started seeming less and less true. Firstly, the terrorist attacks on September 11, were such an incalculable tragedy that it still feels uncomfortable to mention it in business context. On top of that, when flight schedules returned, the devastating shock lingered; many people were simply afraid to fly. At the same time, airlines suddenly found themselves coping with numerous new restrictions that further prevented a quick comeback.
And while less than 1, people died from SARS, the economic impact was substantial. Airlines were challenged to balance the fuel hikes, in turn scaring off travelers with sticker shock at the time of booking. And those premium seats never came back. There are no all-premium carriers today.
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It would take new levels of creative problem solving, strategic analysis, and leadership to rescue the aviation industry from the myriad challenges of the new century. They made it both affordable for average consumers and profitable for their companies and, naturally, themselves.
Though currently retired, Gordon Bethune is someone who has made an indelible mark on the airline business to this day. But despite the difficulty in adopting —and adapting to —new media and data collection models, airlines have not been sitting still for the past decade. JetBlue was one of the first airlines to upgrade its tech offerings to flyers, installing live satellite broadcasting from DirecTV. That situation was unusual and dire enough to warrant live TV coverage.
Ultimately, the flight landed safely. But the experience of having live TV access and the ability to text in the air via in-flight Wi-Fi forever changed the dynamic and experience of flying.
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Certainly, the average cost of flying has never been more affordable. Every day, we are surrounded with countless examples of what data is capable of within the context of this long developing moment: The Fourth Industrial Revolution. Consider the change in how consumers book their travel plans and how the airlines, despite such investments, are still in so many ways stuck in the past. There is so much additional data in signal and real-time operations that happens between an airline and their consumer.
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The airlines have had the interactive skill set to respond to a stated customer desire. But the anticipatory muscles remain comparatively weak.
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The airline industry currently employs 9 million people directly. And millions more are being hired within and around the industry. By , there will be 7. Much of the air traffic gains will be driven by China and India, the report notes. And as those markets grow, there will be many new routes to plan and price — and more competition to attract those passengers.
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