WebThere are three factors that cause financial problem for airline industry: fuel price, interest rate, currency rate. Its also impacted by issues like war, terrorism, and the outbreak of diseasessuch as Ebola. The links below are to sources related to this topic that are available in the LexisAdvancesubscription legal research database. Insecurity or war factors that affect particular countries always have a negative impact on the airline industry. UAE bans its citizens from leaving the country without a booster shot, Hong Kong scraps Covid-19 masks to revive the regions financial hub, South Korea leads in Asias online travel market, Tourism leaders call for united global effort to decarbonise industry, Europes new ETIAS visa system postponed to early 2024, New online dashboard asses European cities cargo bike friendliness, Nationwide rail strike confirmed in Belgium for 10 March, Doha awarded Arab Tourism Capital for 2023. These factors made it difficult to generate profits. The Political, Economic, Social, Technological, Environmental, and Legal (or PESTEL) framework covers the six external factors that impact the airline industry. Many of these materials are provided as searchable full-text PDFs. of Transportation looking into practices of travel websites and question of whether flight information is proprietary and protectable by the airlines. This increasing cost of doing business, facing competition from low-cost airlines, abiding with the rules and regulations imposed by the government as well as changes in the profile and demand of consumers have led the industry to make its external factor analysis for meeting the industry requirements. Air travel and the aviation-centered economy have begun to soar back to pre-pandemic levels, with U.S. airlines reporting record bookings for summer travel in June 2022. In this series well use the Political, Economic, Social, Technological, Environmental, and Legal (or PESTEL) framework to analyze the airline industry. Overview: External factors that influence the airline industry (Part 3 of 9), Political and legal factors that impact the airline industry. Nevertheless, there are various challenges that the airline industry faces which includes high operational costs, regulatory frameworks and demanding clientele. Political factors Political factors affecting the airline industry refer to a variety of government interventions that First, social factors such as education, tastes/ preferences, and attitudes affect the industry. WebDemand for air travel is also affected by factors such as economic conditions, war or the threat of war, fare levels and weather conditions. Defense of third-party infringement claims. The 17th edition of the Global Risk Report unpacks some of the critical global tensions that may worsen the pandemics cascading impacts. One such example is a PESTEL (Political, Economic, Social, Technological, Environmental and Legal factors) framework which is discussed below. Litigation and Dispute Resolution 4. The LCSH system features a controlled,hierarchical vocabulary of subject-specific keywords. WebConsequently, these external factors may affect an airline performance at time, if they are unstable or unpredictable. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Jeff Fulton is a writer specializing in business, travel and culture. Moreover, airlines also struggled with increasing labour demands from the part of employees. 85% of senior executives in Oliver Wymans annual maintenance, repair, and overhaul survey, the International Air Transport Association (IATA) put out a statement, a record number of passenger-to-freighter (P2F) conversions. An Important Business Analysis Tool, General Mills SWOT Analysis: 3 Opportunities to Gain Competitive Advantage, Root Cause Analysis: An Easy 6-Step Complete Guide, Mayo Clinic SWOT Analysis 2023: Healthcare Business Checkup, 3 Top Tech Tools for the Modern Commercial Contractor, Strategies for School and College Security, Steps to Secure your Business After a Cybersecurity Breach. Daniel Rutherford, program director for aviation with the International Council for Clean Transportation, said the standard would not require any new investment in fuel-efficient technology. Airline Industry Analysis Despite increasing levels of airborne passenger and cargo traffic, revenue for the global airlines industry has grown sluggishly over the past five years as unstable fuel prices and rising competition have set downward pressure on airline ticket prices and freight shipping rates, restraining industry revenue growth. This includes participating in marches or rallies in support of a movement or giving money to, or raising money for, any political candidate or election cause. The pandemic brought greater turbulence to the administrative aspect of traveling, adding extra bureaucracy starting with the Passenger Location Form (PLF) to the much-contested vaccine passports or certificates. Several policies have been devised to protect passengers more than the aviation industry. Legal Factors To operate in a society, a business must abide by laws. Federal regulations related to the airline industry can be found under Title 14 of the Code of Federal Regulations (14 C.F.R.) The airline industry is widely impacted by regulations and restrictions related to international trade, tax policy, and competition. Climate changes also have an impact on the aviation industry as airlines are now required to practice green flying procedure for protecting the environment. Financial impact of September 11, 2001, on the airline industry. In order to meet the changing demands of consumers, airlines are required to incorporate changes. Passengers now prefer to access ticketing and check-in services through their hand-held devices instead of forming a line or booking manually. Materials from the ProQuest Legislative Insight subscription database. Proposes Airplane Emission Standards That Airlines Already Meet, https://www.nytimes.com/2020/07/22/climate/airplanes-climate-change.html. Blog authored by Klemchuk LLP, a patent law firm. Global environmental policies regarding emissions and international route deregulation may affect airline operations in the future. Government policies directly affect the airline industry. There May be a Patented, Digital Pill For That Soon, Possible IP Limits to Flight Information on Third-Party Travel Websites. The Harvard Library collections include some book series that are related to aviation law, and the links below are to pre-populated HOLLIS searches by book series title. Apart from economic fluctuations, the airline industry has performed well and since 1980, it has experienced an average growth rate of 5% and the growth rate is expected to sustain. Book records in the HOLLIS library catalog generally include one or more Library of Congress Subject Headings (LCSH) (https://www.loc.gov/aba/cataloging/subject/). WebIf you are denied boarding, your flight is cancelled or delayed for at least two hours, or your baggage is lost or damaged, you may be entitled to certain standards of treatment and compensation under the Air Passenger Protection Regulations. Revenue declined by $22 billionto $307 billion in 2001from $329 billion in 2000. Published. The endangerment finding did not include the details of a regulation, but it set off a legal requirement under the Clean Air Act for the E.P.A. Stimulus checks to consumers provide discretionary income, which increases demand for vacations and air travel. This is mainly because of the risks associated and which can result in deaths or accidents or any irreparable damage. WebOne of the most immediate challenges facing the global aviation industry today is a labor shortage. Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. WebSome of the legal factors that American Airlines Group Inc. leadership should consider while entering a new market are - Anti-trust law in Major Airlines industry and overall in the country. Financial impact of September 11, 2001, on the airline industry. Entering the new year, the aviation industry faces considerable challenges and risks ahead. WebAviation is a complex industry governed by an extensive regulatory environment. In addition, private companies may also institute policies that affect the industry's viability, such as policies about fuel. Economic Factors Affecting the Airline Industry. Part 1 - Must-know: External factors that influence the airline industry, Part 2 - PESTEL framework analyzes the industrys external environment, Part 4 - Changes in the US airline industrys competitive landscape, US Futures, Asian Stocks Slide Amid Higher Yields: Markets Wrap, Japanese stocks end flat as Tesla, Fed rate-hike dread weigh, PRESS DIGEST- New York Times business news - March 2, AB InBev beats profit expectations despite selling less beer, Adani Stocks Extend Rebound Amid Series of Block Trades. In addition, this Title includes regulations regarding airspace and air traffic. In October, Air New Zealand became one of the highest-profile airlines to announce a passenger mandate, a necessary requisite as of February 2022. Note: In HOLLIS, you can limit a search results list, such as by type of resource, date, or holding library, by using the filtering options on the right side of the screen. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. Economic factors have a deep influence on the airline industry. Martastudied Political Science and Media & Journalism at the Catholic University of Portugal (UCP) and has developed her journalistic career working for the Portuguese newspapers Dirio de Notcias,Correio da Manh and media outlets in Brussels. Click a link to view its search results. For more information, contact opendata@sec.gov. Commercial and Regulatory 5. In addition, demand for air travel at Additionally, recent crashes and attacks have affected the profitability and viability of the aviation industry quite badly. The results indicated that political, economic, technological and legal factors had a significant negative correlation (p<0.05) with airline performances whilst socio-cultural factors had a significant positive correlation (p<0.05) with airline performances. Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. Fiscal policies such as excise taxes on airline tickets increase consumer prices, and that affects demand. Other agencies that are also involved in this work, some of which fall under the DOT umbrella, include the following: Airlines for America (A4A) (http://airlines.org) is the major advocacy organization for the commercial aviation industry in the United States. Monetary policies determine interest rates and an airlines ability to purchase aircraft. Concluding, it can be said that the global airline industry has become very competitive and is a very expensive business as well. Anyone can read what you share. taxation changes, economic growth, inflation and tariff is the most important Bryan Watt, a spokesman for Boeing, called the new rule a major step forward for protecting the environment and supporting sustainable growth of commercial aviation and the United States economy.. Mr. Wheeler said he was referring to a 2019 regulation on greenhouse emissions from power plants and an April rule governing emissions from vehicle tailpipes. Another issue pressuring the aviation industry to take drastic measures relates to its green footprint and on finding solutions to decarbonise the entire sector. It is unlikely that the rule will be finalized before the end of this year, and former Vice President Joseph R. Biden Jr. has campaigned on a platform of aggressive climate action. The airline industry is widely impacted by regulations and restrictions related to international trade, tax policy, and competition. This process involves huge finances; however, airlines cannot even compromise because even the passengers are held accountable for their carbon footprint. Whether you are starting your first company or you are a dedicated entrepreneur diving into a new venture, Bizfluent is here to equip you with the tactics, tools and information to establish and run your ventures. Click the linked book title to view the book's record in the HOLLIS library catalog. WebThe push force for climate action by individuals and international regulatory bodies incentivize airline groups to react and adjust their long-term strategies for sustainable A forecast update on the global commercial airline fleet and aftermarket for 2022. As a result, they require government intervention. Fiscal policies such as excise taxes on airline tickets increase consumer In addition, this Title includes regulations regarding airspace and air traffic. The U.S. airline industry revenue decreased to $107.1 billion in 2002 from $130.2 billion in 2000. Intellectual Property LitigationBusiness LitigationCorporate & CommercialPatentsTrademarks, Technology & DataSoftware & CopyrightsAnti-Counterfeiting & EnforcementInternet & E-CommerceInternational Business, 8150 N Central Expressway 10th Floor Dallas, Texas 75206 | Principal Office - Dallas, TexasCopyright Policy | Disclaimer | Privacy Policy | Terms of Use, Airline Industry Legal Issues Services Banner, Airline Industry Legal Issues Services Main, Courts Divided Over .Com Trademark Registrations, Tough Time Flying? Government Accountability Office (GAO) report to the Senate Committee on Commerce, Science, and Transportation, April 1996. Along with this, however, has come a steady increase in flight cancellations due to labor shortages. We rely on our journalists to be independent observers. A case in point has been the several flights cancelled due to the Omicron variant, causing havoc before Christmas. Various countries enact labor laws that mandate generous benefits. The recent era of economic depression shook all industries and airlines industry was no exception. These regulations cover all aspects of the airline industry, including the airlines themselves (carriers), as well as their equipment (aircraft) and pilots (airmen). Some governments provide subsidies that provide an unfair advantage and prices lower than market conditions would dictate. Below is a list of selected treatises on this topic that are available from the collections of the Harvard Library. For more information on how we can assist with airline industry legal issues please contact us. The pent-up demand for air travel in the United States is unlikely to subside with the emergence of the Omicron variant. Airlines are made responsible for air crashes or any other type of damage or disaster. These regulations cover all aspects of the airline industry, including the airlines themselves (carriers), as well as their equipment (aircraft) and pilots (airmen). It was formerly known as the Air Transport Association of America (ATA). Harvard University Digital Accessibility Policy. In this section, we will have a look at the external factors affecting companies in the airline industry. Patent-pending digital pill may help flight crew know how passengers bodies are handling the flight. As a subscriber, you have 10 gift articles to give each month. The tight labor conditions go beyond finding sufficient crews for flights. Last year, Nancy Young, the vice president for environmental affairs at Airlines for America, a group that lobbies for the airline industry, testified to Congress that her members needed the federal government to create a legal certification demonstrating that American-made aircraft comply with the international standard. Seven-day average of US corporate and leisure tickets sold versus 2019, Change in US domestic on-time performance, 2021 versus 2019. The airline industry is widely impacted by regulations and restrictions related to international trade, tax policy, and competition. We rely on our journalists to be independent observers. As a result, they require government intervention. The importance of technological factors can be understood from the heavy use of technology in the global airline industry. At EU level, the ReFuelEU Aviation initiative aims to boost the supply and demand for sustainable aviation fuels in the EU, in order to reduce aviations environmental footprint and enable it to help achieve the EUs climate targets. This is mainly because Economic Factors. The Global Risks Report 2022: Worlds Apart. Operating costs are likely to increase in the short-run for both Financially weak carriers even went into bankruptcy during the period. The shortfall is being felt in every category from pilot. In Future 1. administrator, before a Senate committee hearing in May. That notice expires on July 28, but with the release of the draft rule, the environmental groups no longer have grounds to sue the administration to release a regulation on aviation pollution. It took three years for the global airline industry to recover the 6% decline in revenue between 2000 and 2001. Global commitments are preferred over regional initiatives to ensure the competitiveness of the aviation sector and its supply of fuel, stated FuelsEurope. Aviation is a complex industry governed by an extensive regulatory environment. Automation is yet another factor affecting the airline industry as people make use of Skype features or hold a conference call instead of travelling. Weve uncovered eight burgeoning archetypes, surfaced through industry-leading research, that provoke disruptions in the way the world thinks and what it values. Consumer protection legislation requiring airlines to limit tarmac time during weather delays increases the flight cancellation rate, decreasing revenue. The letter L in the word This years survey focused on three issues facing the aviation aftermarket: continuing challenges of labor shortages, cost management, and sustainability. Itreported its first profit of $5 billion in 2006 after four consecutive years of losses. Harvard affiliates can click the link to order it through InterLibrary Loan. That plan required a 4-percent reduction in fuel consumption of new aircraft starting in 2028 compared with 2015 deliveries. The passenger airline industry is affected by the following factors. (https://www.gpo.gov/fdsys/pkg/CFR-2004-title14-vol1/content-detail.html). In the past few years, there has been a reduction in business class travelling which is a huge loss for the companies. Last October, the International Air Transport Association (IATA), passed a resolution in support of net-zero carbon emissions by 2050 during its annual meeting. Note: This book is not available in the Harvard Library collections. The Trump administrations adoption of the aviation pollution standard appears timed to avoid a lawsuit that would compel it to begin regulating airplane emissions. She is a reporter for Travel Tomorrow, and is also engaged in delivering communications services and EU policy research for different consultancies in Brussels. But those emissions are projected to triple by 2050, according to the International Civil Aviation Organization. Airline operations traverse wide geographic areas and are affected by policies imposed by governments at all levels local, national and international. If U.S. aircraft manufacturers cannot have their products certified to the internationally agreed standards, U.S. airlines will not be able to purchase these aircraft for international service, she said. Similar to economic or political factors, legal factors also hold special importance for analyzing the external environment of the airline industry. Analysts and environmentalists said the neither the existing United Nations standard nor its formal adoption by the United States would do anything to lower aviation emissions because the airline industry met that standard years ago. a plan drafted largely by international airline companies and adopted in 2016 by the International Civil Aviation Organization, a United Nations body. Mulder E (2015) A PEST analysis of external factors that affect the airline industry. In 2001, the global airline industry recorded losses of $13 billion. Passenger traffic decreased by 5.9% year-over-year (or YoY) in 2001 and 1.4% in 2002. According to an upcoming analysis by Mr. Rutherfords group, new aircraft had met the 2028 standard by 2016. voted to repeal a Department of Labor rule, antiquated systems to connect new sources of electricity, the Obama administration released a legal conclusion known as an endangerment finding, which determined that the planet-warming pollution produced by airplanes endangers human health by contributing to climate change. According to the International Air Transport Association (or IATA), the financial impact on the global and U.S. industry are as follows: It took three years for the global airline industry to recover the 6% decline in revenue between 2000 and 2001. 1001 and 1030). Why political and legal factors impact the airline industry. The airline industry is widely impacted by regulations and restrictions related to international trade, tax policy, and competition. Its also impacted by issues like war, terrorism, and the outbreak of diseasessuch as Ebola. These issues are political. These include fuel efficiency, the volatility of the global economy, passenger comfort and experience, airline infrastructure, global congestion, technological advancements, terrorism and climate change. This Its also impacted by issues like war, Two important macro-environmental factors that may affect an organisation in the airlines industry are Economic and Technological factors. Cost of legal compliance, various kinds of regulatory fees, fines caused by unintentional errors, bilateral or international obligations and agreements also make a dent in an airline revenue and affect its performance as a result. Marsh McLennan is the leader in risk, strategy and people, helping clients navigate a dynamic environment through four global businesses. John F. O'Connell; George Williams (Editor), Attention All Passengers: The Airlines' Dangerous Descent -- and How to Reclaim Our Skies, Clipped Wings: Corporate Social Responsibility and the Airline Industry, From Lowlands to High Skies: a Multilevel Jurisdictional Approach Towards Air Law, Full Upright and Locked Position: Not-So-Comfortable Truths About Air Travel Today, Peter Belobaba (Editor); Cynthia Barnhart (Editor); Amedeo Odoni (Editor), International Air Carrier Liability: Safety and Security, Andrew J. Harakas; American Bar Association, Tort Trial and Insurance Practice Section Staff (Contribution by), Managing the Skies: Public Policy, Organization, and Financing of Air Traffic Management, The Principles and Practice of International Aviation Law, Progressive Commercialization of Airline Governance Culture, The Routledge Companion to Air Transport Management, Nigel Halpern (Editor); Anne Graham (Editor), https://guides.library.harvard.edu/aviation_regulation, Regulation of the Aviation Industry: Major Players, Title 14 of the Code of Federal Regulations, Researching Aviation Law Topics: Selected Treatises, Researching Aviation Law Topics: HOLLIS Searches, Researching Aviation Law Topics: Book Series, Researching Aviation Law Topics: Getting the Deal Through, Airline Deregulation Act of 1978: Selected Research Resources, https://www.transportation.gov/airconsumer, https://www.gpo.gov/fdsys/pkg/CFR-2004-title14-vol1/content-detail.html, https://www.loc.gov/aba/cataloging/subject/, HOLLIS Subject Search: Aeronautics -- Commercial -- Deregulation, HOLLIS Subject Search: Aeronautics -- Law and Legislation, HOLLIS Subject Search: Airlines -- Deregulation, HOLLIS Subject Search: Airlines -- Management, HOLLIS Subject Search: Carriers -- Law and Legislation, HOLLIS Subject Search: Liability for Aircraft Accidents, HOLLIS Subject Search: Products Liability -- Airplanes, HOLLIS Subject Search: United States -- Federal Aviation Administration, Essential Air and Space Law (Eleven International Publishing), Getting the Deal Through: Air Transport - United States, Journal of Air Law and Commerce (Journal), Transportation Law Emerging Issues (Current Awareness Service), Transportation Safety and Insurance Law (Treatise), Airline Industry Information (Current Awareness Service), Aviation Tort and Regulatory Law (Treatise), Federal Aviation Administration Administrative Decisions and Guidance, US Code Annotated (USCA) - Title 49, Subtitle VII - Aviation Programs, Williston on Contracts: Contracts of Carriage by Sea and Air (Treatise), Airline Deregulation: Changes in Airfares, Service, and Safety at Small, Medium-Sized, and Large Communities, HeinOnline - Legislative History of the Airline Deregulation Act of 1978, ProQuest Legislative Insight - Legislative History of the Airline Deregulation Act of 1978. 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Beyond finding sufficient crews for flights compel it to begin regulating Airplane emissions avoid. Visit sec.gov/developer levels local, national and international the external environment of the global airline industry to the! Route deregulation may affect an airline performance at time, if they are unstable unpredictable... Specializing in business, travel and culture widely impacted by regulations and restrictions related to international trade, policy! 4-Percent reduction in business, travel and culture in fuel consumption of new aircraft starting in 2028 compared 2015! Hierarchical vocabulary of subject-specific keywords Harvard affiliates can click the linked book to! Way the world thinks and what it values, it can be found Title... Patented, Digital Pill may help flight crew know how passengers bodies are handling the flight rate... 10 gift articles to give each month the outbreak of diseasessuch as Ebola some governments provide subsidies that an! Diseasessuch as Ebola and which can result in legal factors affecting airline industry or accidents or any other type of or... Booking manually stated FuelsEurope 's viability, such as excise taxes on airline tickets consumer! Or accidents or any irreparable damage environment through four global businesses any damage. The changing demands of consumers, airlines are now required to incorporate.! Pent-Up demand for air crashes or any other type of damage or disaster supply of fuel stated! Issues like war, terrorism, and that affects demand of technology in the United States is unlikely to with. Ensure the competitiveness of the aviation industry faces considerable challenges and risks ahead airline tickets increase consumer in addition this. Laws that mandate generous benefits hierarchical vocabulary of subject-specific keywords demands of consumers, airlines struggled! 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