Short Essay Type Questions
1. Online Travel Agencies (OTA) such as Expedia, Priceline, Opodo, and Orbitz make airline ticket price comparison fast and easy? Which of Porter’s five forces is most applicable. Assess the effect of OTAs on airline industry competition, prices, and profitability.
2. Characterize the demand for air travel over time; that is, by time of day, day of the week, season, and business cycle.
3. Define and discuss the differences between qualitative, time series, and causal (econometric) forecasting methods.
4. Define economies of scale. Are economies of scale evident in the airline industry? What is the implication for market entry?
5. Discuss one aspect of the low-cost carrier business model, such as Ryanair’s, that provides a sustainable cost advantage over a large network carrier, for example, British Airways.
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