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Airlines Worldwide - International - March 2019

“More consolidation is to be expected in Europe’s aviation sector due to cost and competitive pressures. Airfares are starting to rise on a number of routes in response to higher costs. The jury is still out regarding the viability of long-haul LCC operations.”
- Jessica Kelly, Senior Tourism Analyst

This Report looks at the following areas:

  • Which are the biggest airlines and what are their prospects?
  • What is the market share of airlines operating in the world’s major aviation markets?
  • What is the current state of in-flight Wi-Fi?
  • How are rising costs impacting the worldwide aviation sector?
  • What could be the impact of the global trade war on the worldwide aviation sector?
  • What are the current trends regarding distribution channels for air tickets?

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Table of contents

  1. Introduction

      • Key findings
      • Data Sources

        • Abbreviations

          • Issues in the Market

              • Grounding of Boeing 737 MAX aircraft
                • Impact of global trade war
                  • In-flight Wi-Fi
                    • Insolvency
                      • Rising labour costs
                        • (Airport) slot constraint
                          • Unruly passengers
                          • Global Summary

                              • Demographic trends
                                • Figure 1: Demographic trend by major country, 2016-22
                              • Economy
                                • Figure 2: Trend in nominal* GDP by major country, 2016-22
                              • GDP per capita
                                • Figure 3: Trend in nominal GDP per capita in major countries, 2016-22
                              • Exchange rates
                                • Figure 4: Outlook for foreign exchange rates (US$ against other currencies), 2017-22
                              • Outlook for growth in tourism
                                • Figure 5: Trend in tourist arrivals by major country, 2016-22
                            • Grounding of Boeing 737 MAX Aircraft

                                • MCAS implicated in crashes
                                  • Industry impact
                                  • Impact of Global Trade War

                                      • Figure 6: Selected trade measures implemented &/or proposed by the US, 2018
                                      • Figure 7: Year-on-year growth rate in world trade volume (goods and services*), 2017-20
                                    • Non-tariff barriers also an important factor
                                      • How would a global trade war affect aviation?
                                        • Impact on air-cargo demand
                                          • ‘Reshoring’ a potential threat
                                            • Impact on air-passenger demand
                                                • Figure 8: Implied reduction on near-term passenger growth (in %) relative to baseline estimate*, 2018
                                                • Figure 9: Implied reduction in global passenger numbers relative to baseline (in million passengers*), 2018
                                            • In-flight Wi-Fi

                                                • Airline breakdown
                                                  • Wi-Fi quality by proportion of ASMs
                                                    • Gogo impacted by American Airlines approach
                                                      • Airline directed model
                                                        • Perennially unprofitable
                                                          • Southwest drops a Wi-Fi provider
                                                          • Insolvency

                                                              • Virgin-led consortium to acquire Flybe
                                                                • £100 million in financing
                                                                  • Links to Virgin Atlantic’s long-haul network
                                                                    • Growing demand for feeder traffic
                                                                      • Smaller carriers hit the skids
                                                                        • Small Planet ceases operations
                                                                          • Switzerland’s PrivatAir files for bankruptcy
                                                                          • Rising Labour Costs

                                                                              • American Airlines’ pilots seek labour negotiations
                                                                                • American increased pay by 8% in April 2017
                                                                                  • Unions make new pay claim to BA
                                                                                    • United’s new employee bonus scheme
                                                                                      • Ryanair recognises Spanish cabin-crew union
                                                                                      • (Airport) Slot Constraint

                                                                                          • The Americas
                                                                                            • Europe
                                                                                              • North Asia
                                                                                                • Asia Pacific
                                                                                                • Unruly Passengers

                                                                                                    • Numbers of disruptive air passengers quadrupled
                                                                                                      • Figure 10: Reported incidents of disruptive passengers on UK-based flights, 2013-18
                                                                                                    • Stricter enforcement required
                                                                                                      • Alcohol a major factor
                                                                                                        • Active government involvement requested
                                                                                                          • In-flight sexual assaults on the rise
                                                                                                            • National In-flight Sexual Misconduct Task Force
                                                                                                            • Which Are the Top-rated Airlines?

                                                                                                                • Skytrax results
                                                                                                                  • Figure 11: Skytrax airline evaluation criteria, 2018
                                                                                                                • The world’s top ten airlines in 2018
                                                                                                                  • Figure 12: The world’s top 10 airlines in 2018
                                                                                                              • Regional and Country Markets

                                                                                                                • Asia Pacific
                                                                                                                  • Australia
                                                                                                                    • Figure 13: Australia’s top 12 airlines, measured by annual 2-way seat capacity, 2016-17
                                                                                                                  • International market shares
                                                                                                                    • Figure 14: Airline share of international passengers in Australia for the year ended October 2018
                                                                                                                  • China
                                                                                                                    • Chinese passenger traffic has doubled since 2010
                                                                                                                      • Domestic market dominates
                                                                                                                        • Fastest-growing routes
                                                                                                                          • Airport growth
                                                                                                                            • Domestic market
                                                                                                                              • Figure 15: Trend in seat departures in China’s domestic aviation market, 2013-17
                                                                                                                              • Figure 16: Seat departure capacity market share of leading Chinese airlines on domestic routes in 2017
                                                                                                                            • International destinations
                                                                                                                              • International capacity
                                                                                                                                • Figure 17: Trend in seat departures in China’s international aviation market, 2013-17
                                                                                                                              • International market shares
                                                                                                                                • Figure 18: Seat departure capacity market share of leading Chinese airlines on international routes in 2017
                                                                                                                              • India
                                                                                                                                • Passenger traffic headed to 1.1 billion by 2040
                                                                                                                                  • Market shares
                                                                                                                                      • Figure 19: Domestic air-traffic market shares in India (millions of passengers), 2018
                                                                                                                                      • Figure 20: Domestic air traffic market shares in India, January-October 2018
                                                                                                                                    • India’s domestic market ranked third worldwide
                                                                                                                                      • Figure 21: Largest city-pair routes within India & their global ranking, 2017
                                                                                                                                    • Indonesia
                                                                                                                                      • Figure 22: Indonesia average domestic load factor, 2005-17
                                                                                                                                    • Indonesia has lagged its ASEAN counterparts
                                                                                                                                      • Changing market structure
                                                                                                                                        • Batik, the fastest-growing airline in Indonesia
                                                                                                                                          • Garuda has recovered
                                                                                                                                            • Sriwijaya the third main domestic competitor
                                                                                                                                              • Three major players remain
                                                                                                                                                  • Figure 23: Indonesia domestic market share by airline/airline group (% of passengers carried), 2007-17
                                                                                                                                                • Japan
                                                                                                                                                  • Domestic market moving away from full service
                                                                                                                                                    • Skymark and AirAsia Japan challenge the ANA-JAL duopoly
                                                                                                                                                      • Europe
                                                                                                                                                        • Figure 24: European airlines ranked by seat capacity, Q3 2017-Q3 2018
                                                                                                                                                      • Lufthansa group surpasses Air France/KLM
                                                                                                                                                        • UK
                                                                                                                                                          • Figure 25: Top 10 UK-based* airlines, ranked by total passenger numbers, 2011-17
                                                                                                                                                        • Latin America
                                                                                                                                                          • Figure 26: Air trips per capita in selected countries, 2016
                                                                                                                                                        • Volaris, an expanding ULCC
                                                                                                                                                          • Brazil
                                                                                                                                                            • Figure 27: Market shares of ABEAR airlines* in Brazil’s domestic & international aviation markets, August 2018
                                                                                                                                                          • Avianca Brazil, a rising star
                                                                                                                                                            • Chile and Peru
                                                                                                                                                              • Colombia
                                                                                                                                                                • Figure 28: Domestic passenger share for Colombia’s airlines in 2017
                                                                                                                                                              • Mexico
                                                                                                                                                                • Figure 29: Domestic passenger shares for Mexican airlines in 2017
                                                                                                                                                              • North America
                                                                                                                                                                • Canada
                                                                                                                                                                  • Figure 30: Major airlines' domestic market share in Canada in 2018
                                                                                                                                                                • US
                                                                                                                                                                  • Figure 31: Top 10 US carriers by number of passengers carried, 2017
                                                                                                                                                                  • Figure 32: Top 20 US airlines, with breakdown of domestic & international passengers, load factor, number of flights & average seats per aircraft, 2017
                                                                                                                                                                • Delta leads the pack
                                                                                                                                                                  • Figure 33: US corporate travel buyer ratings of the big four airlines, (rating out of 5), 2018
                                                                                                                                                                  • Figure 34: US corporate travel buyer ratings of the big four airlines (rating out of 5), 2018
                                                                                                                                                                • United recovers from merger
                                                                                                                                                                  • American focuses on communication
                                                                                                                                                                    • Southwest benefiting from corporate business investment
                                                                                                                                                                    • Airline Alliances

                                                                                                                                                                        • Has the alliance phenomenon peaked?
                                                                                                                                                                          • oneworld
                                                                                                                                                                            • Member airlines
                                                                                                                                                                              • Royal Air Maroc joins oneworld
                                                                                                                                                                                • Alaska Airlines may join too…
                                                                                                                                                                                  • ‘oneworld connect’ is for regional carriers
                                                                                                                                                                                    • Keeping customers in the FFP
                                                                                                                                                                                      • But Qatar Air has threatened to leave…
                                                                                                                                                                                        • Qatar Airways to stay in oneworld for time being
                                                                                                                                                                                          • Horizontal integration
                                                                                                                                                                                            • SkyTeam
                                                                                                                                                                                              • Member airlines
                                                                                                                                                                                                • China Southern leaves SkyTeam
                                                                                                                                                                                                  • SkyTeam’s partnership with Hertz
                                                                                                                                                                                                    • Kenya Airways considers leaving SkyTeam
                                                                                                                                                                                                      • Star Alliance
                                                                                                                                                                                                        • Member airlines
                                                                                                                                                                                                          • Star Alliance’s digital-services platform in collaboration with Accenture
                                                                                                                                                                                                            • Star Alliance’s enhanced round-the-world fare product
                                                                                                                                                                                                              • Figure 35: Details of Star Alliance’s RTW fares, 2019
                                                                                                                                                                                                          • Frequent-flyer Programmes

                                                                                                                                                                                                              • Top frequent-flyer programmes in 2018
                                                                                                                                                                                                                • Figure 36: JD Power’s annual study of the FFPs of US airlines, 2017-18
                                                                                                                                                                                                                • Figure 37: Details of JD Power’s study of US airlines’ FFPs, 2018
                                                                                                                                                                                                              • American increases spending requirement
                                                                                                                                                                                                                • Elite Status travellers unfazed by higher-spending requirements
                                                                                                                                                                                                                  • Budget travellers disadvantaged
                                                                                                                                                                                                                    • Alitalia buys back its FFP
                                                                                                                                                                                                                      • FFP buying power
                                                                                                                                                                                                                        • FFPs comparison
                                                                                                                                                                                                                          • Figure 38: Frequent-flyer programme detailed summary, 2018
                                                                                                                                                                                                                          • Figure 39: Details of how points are earned by tier of United’s FFP, Mileage Plus, 2019
                                                                                                                                                                                                                        • Air miles
                                                                                                                                                                                                                          • Air miles vs points
                                                                                                                                                                                                                            • Cathay Pacific’s Marco Polo Club
                                                                                                                                                                                                                              • Figure 40: Point awards, according to flight distance on Cathy Pacific, 2019
                                                                                                                                                                                                                            • Link to Asia Miles
                                                                                                                                                                                                                              • Hong Kong Express’ Fortune Wings Club
                                                                                                                                                                                                                                • Miles & More
                                                                                                                                                                                                                                  • Qantas’ Frequent Flyer
                                                                                                                                                                                                                                    • Qatar Airways’ Privilege Club
                                                                                                                                                                                                                                      • Figure 41: Number of Qpoints required to upgrade & retain given membership tier, 2019
                                                                                                                                                                                                                                    • Length of validity: air miles vs tier miles
                                                                                                                                                                                                                                      • Upper tiers earn faster
                                                                                                                                                                                                                                        • Increased baggage allowances a visible perk
                                                                                                                                                                                                                                          • Can children earn miles?
                                                                                                                                                                                                                                            • Pooling miles allowed in some cases
                                                                                                                                                                                                                                              • Redeeming airline miles
                                                                                                                                                                                                                                                • Blackout dates and limited availability
                                                                                                                                                                                                                                                • Distribution Trends

                                                                                                                                                                                                                                                  • NDC to revolutionise airline sales
                                                                                                                                                                                                                                                    • Impact on GDS
                                                                                                                                                                                                                                                      • Getting travel agencies to co-operate
                                                                                                                                                                                                                                                        • NDC and GDS parallel operations
                                                                                                                                                                                                                                                          • Contracts with airlines
                                                                                                                                                                                                                                                            • Loss of technical intelligence
                                                                                                                                                                                                                                                              • Preferential conditions attract OTAs and metasearch platforms
                                                                                                                                                                                                                                                                • NDC exchange processes first transactions
                                                                                                                                                                                                                                                                  • Five airlines have joined NDC exchange
                                                                                                                                                                                                                                                                  • Top 10 Airlines

                                                                                                                                                                                                                                                                      • Figure 42: Top 10 airlines worldwide ranked by RPK, 2017
                                                                                                                                                                                                                                                                  • American Airlines

                                                                                                                                                                                                                                                                      • SWOT
                                                                                                                                                                                                                                                                        • Strengths
                                                                                                                                                                                                                                                                          • Weaknesses
                                                                                                                                                                                                                                                                            • Opportunities
                                                                                                                                                                                                                                                                              • Threats
                                                                                                                                                                                                                                                                                • Overview
                                                                                                                                                                                                                                                                                  • Regional carrier network
                                                                                                                                                                                                                                                                                    • Regional carrier agreements
                                                                                                                                                                                                                                                                                      • Joint business agreements
                                                                                                                                                                                                                                                                                        • JBA with Qantas Airways in the works
                                                                                                                                                                                                                                                                                          • JBAs with carriers of the LATAM Airlines Group
                                                                                                                                                                                                                                                                                            • China Southern investment
                                                                                                                                                                                                                                                                                              • Fleet
                                                                                                                                                                                                                                                                                                • Figure 43: American Airlines’ mainline fleet, 31 December 2017
                                                                                                                                                                                                                                                                                              • Regional carrier fleet
                                                                                                                                                                                                                                                                                                • Figure 44: American’s fleet of wholly owned & third-party regional carriers operating as American Eagle, 31 December 2017
                                                                                                                                                                                                                                                                                              • New orders
                                                                                                                                                                                                                                                                                                • Figure 45: American’s aircraft orders, 2018-23
                                                                                                                                                                                                                                                                                              • Frequent-flyer programme
                                                                                                                                                                                                                                                                                                • Current developments
                                                                                                                                                                                                                                                                                                  • New services launched in 2017-18
                                                                                                                                                                                                                                                                                                    • American introduces 18 new routes for 2019
                                                                                                                                                                                                                                                                                                      • More service from DFW
                                                                                                                                                                                                                                                                                                        • Flights to be operated by Atlantic Joint Business (AJB)
                                                                                                                                                                                                                                                                                                          • American and Expedia resolve trademark dispute
                                                                                                                                                                                                                                                                                                            • Outlook for 2019
                                                                                                                                                                                                                                                                                                            • Delta Air Lines

                                                                                                                                                                                                                                                                                                                • SWOT
                                                                                                                                                                                                                                                                                                                  • Strengths
                                                                                                                                                                                                                                                                                                                    • Weaknesses
                                                                                                                                                                                                                                                                                                                      • Opportunities
                                                                                                                                                                                                                                                                                                                        • Threats
                                                                                                                                                                                                                                                                                                                          • Overview
                                                                                                                                                                                                                                                                                                                            • Regional network
                                                                                                                                                                                                                                                                                                                              • International alliances
                                                                                                                                                                                                                                                                                                                                • JV agreements
                                                                                                                                                                                                                                                                                                                                  • Commercial agreements with foreign carriers
                                                                                                                                                                                                                                                                                                                                    • Fleet
                                                                                                                                                                                                                                                                                                                                      • Figure 46: Delta’s mainline fleet at 31 December 2017
                                                                                                                                                                                                                                                                                                                                    • Regional carrier fleet
                                                                                                                                                                                                                                                                                                                                      • Figure 47: Fleet operated by Delta’s regional carriers on its behalf, 31 December 2017
                                                                                                                                                                                                                                                                                                                                    • New orders
                                                                                                                                                                                                                                                                                                                                      • Figure 48: Delta’s aircraft firm orders & options at 31 December 2017
                                                                                                                                                                                                                                                                                                                                    • Delta orders 15 more A220s
                                                                                                                                                                                                                                                                                                                                      • Airbus opens new assembly facility in Mobile, Alabama
                                                                                                                                                                                                                                                                                                                                        • Timing of fleet introductions
                                                                                                                                                                                                                                                                                                                                          • Figure 49: Delta’s aircraft purchase commitments, 2018-20 & thereafter, as of 31 December 2017
                                                                                                                                                                                                                                                                                                                                        • Frequent-flyer programme
                                                                                                                                                                                                                                                                                                                                          • Breakage
                                                                                                                                                                                                                                                                                                                                            • Current developments
                                                                                                                                                                                                                                                                                                                                              • 2018 results
                                                                                                                                                                                                                                                                                                                                                • Delta grows Boston departures in 2019
                                                                                                                                                                                                                                                                                                                                                  • Delta takes content off TripActions
                                                                                                                                                                                                                                                                                                                                                    • Delta gives branded fares boarding priority
                                                                                                                                                                                                                                                                                                                                                      • Outlook for 2019
                                                                                                                                                                                                                                                                                                                                                      • United Airlines

                                                                                                                                                                                                                                                                                                                                                          • SWOT
                                                                                                                                                                                                                                                                                                                                                            • Strengths
                                                                                                                                                                                                                                                                                                                                                              • Weaknesses
                                                                                                                                                                                                                                                                                                                                                                • Opportunities
                                                                                                                                                                                                                                                                                                                                                                  • Threats
                                                                                                                                                                                                                                                                                                                                                                    • Overview
                                                                                                                                                                                                                                                                                                                                                                      • Regional network
                                                                                                                                                                                                                                                                                                                                                                        • Capacity purchase agreements
                                                                                                                                                                                                                                                                                                                                                                          • Alliances and JVs
                                                                                                                                                                                                                                                                                                                                                                            • Other alliances
                                                                                                                                                                                                                                                                                                                                                                              • Cargo JVs
                                                                                                                                                                                                                                                                                                                                                                                • Fleet
                                                                                                                                                                                                                                                                                                                                                                                  • Figure 50: United’s mainline fleet at 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                • Regional carrier fleet
                                                                                                                                                                                                                                                                                                                                                                                  • Figure 51: United’s regional aircraft fleet, 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                • New orders
                                                                                                                                                                                                                                                                                                                                                                                  • Figure 52: United’s scheduled aircraft deliveries through 2027 as of 31 December 2017
                                                                                                                                                                                                                                                                                                                                                                                • Frequent-flyer programme
                                                                                                                                                                                                                                                                                                                                                                                  • Figure 53: Key financial data relating to United’s frequent-flyer programme (US$m), 2017
                                                                                                                                                                                                                                                                                                                                                                                • Current developments
                                                                                                                                                                                                                                                                                                                                                                                  • United surpasses Delta
                                                                                                                                                                                                                                                                                                                                                                                    • Basic economy update
                                                                                                                                                                                                                                                                                                                                                                                      • Pushing co-branded credit cards
                                                                                                                                                                                                                                                                                                                                                                                        • Less spending than expected
                                                                                                                                                                                                                                                                                                                                                                                          • United reaps benefits of ‘rebanking’ hub schedules
                                                                                                                                                                                                                                                                                                                                                                                            • Encouraging results
                                                                                                                                                                                                                                                                                                                                                                                              • United Airlines JV acquires stake in ExpressJet
                                                                                                                                                                                                                                                                                                                                                                                                • United to expand in San Francisco
                                                                                                                                                                                                                                                                                                                                                                                                  • More business-class seats on transatlantic flights
                                                                                                                                                                                                                                                                                                                                                                                                    • Unusual for a US airline
                                                                                                                                                                                                                                                                                                                                                                                                      • United to introduce 737-10 lie-flat seats in 2020
                                                                                                                                                                                                                                                                                                                                                                                                        • Delta Air Lines and JetBlue lead for flatbeds
                                                                                                                                                                                                                                                                                                                                                                                                          • Apple revealed as United’s biggest client
                                                                                                                                                                                                                                                                                                                                                                                                            • Outlook for 2019
                                                                                                                                                                                                                                                                                                                                                                                                            • Emirates

                                                                                                                                                                                                                                                                                                                                                                                                                • SWOT
                                                                                                                                                                                                                                                                                                                                                                                                                  • Strengths
                                                                                                                                                                                                                                                                                                                                                                                                                    • Weaknesses
                                                                                                                                                                                                                                                                                                                                                                                                                      • Opportunities
                                                                                                                                                                                                                                                                                                                                                                                                                        • Threats
                                                                                                                                                                                                                                                                                                                                                                                                                          • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 54: Source of revenue by region (AEDbn), FY 2016-17 to 2017-18
                                                                                                                                                                                                                                                                                                                                                                                                                          • Fleet
                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 55: Emirates’ fleet as of 31 March 2018
                                                                                                                                                                                                                                                                                                                                                                                                                          • New orders
                                                                                                                                                                                                                                                                                                                                                                                                                            • Frequent-flyer programme
                                                                                                                                                                                                                                                                                                                                                                                                                              • Current developments
                                                                                                                                                                                                                                                                                                                                                                                                                                • Emirates and SAA enhance codeshare agreement
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Emirates obliged to cut 25% of flights
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Network updates for 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                      • New flights to African destinations
                                                                                                                                                                                                                                                                                                                                                                                                                                        • Increased frequencies in Europe
                                                                                                                                                                                                                                                                                                                                                                                                                                          • South American schedule changes
                                                                                                                                                                                                                                                                                                                                                                                                                                            • Australian updates
                                                                                                                                                                                                                                                                                                                                                                                                                                              • Emirates partners with ‘On the Beach’
                                                                                                                                                                                                                                                                                                                                                                                                                                                • Outlook for 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                • China Southern Airlines

                                                                                                                                                                                                                                                                                                                                                                                                                                                    • SWOT
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Strengths
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Weaknesses
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Opportunities
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Threats
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Subsidiaries
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 56: Summary of China Southern’s principal subsidiaries at 31 December 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Fleet
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 57: China Southern’s fleet at 31 December 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 58: China Southern’s leased aircraft at 31 December 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • New orders
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 59: Projected growth of China Southern’s fleet, 2017-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Frequent-flyer programme
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Enhanced frequent-flyer co-operation with American Airlines
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Current developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • China Southern expands partnership with American Airlines
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • American expansion in China
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • China Southern expansion in the US
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Long-haul codeshare
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Codeshare agreement with Finnair
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Outlook for 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • China Eastern executive takes over at China Southern
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Southwest Airlines

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • SWOT
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Strengths
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Weaknesses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Opportunities
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Threats
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Route structure
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • A focus on California
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • International services extended
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Fleet
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 60: Southwest’s fleet at 31 December 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • New orders
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 61: Southwest’s aircraft orders as of 31 December 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Frequent-flyer programme
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Current developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Driving down costs with bigger aircraft
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 62: Trend in average seats per aircraft in Southwest’s fleet, 2012-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Hawaiian potential growth engine temporarily stalled
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Shutdown delays Southwest’s Hawaii Service
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • No basic economy for Southwest
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Outlook for 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Hawaii flights launched
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Lufthansa

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • SWOT
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Strengths
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Weaknesses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Opportunities
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Threats
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 63: Revenue share in % by business segment, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Fleet
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 64: Lufthansa’s fleet at 31 December 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • New orders
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Frequent-flyer programme
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Current developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Lufthansa adds more Mediterranean destinations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • New destinations and upgraded services
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • A corporate account portal
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Outlook for 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • British Airways

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • SWOT
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Strengths
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Weaknesses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Opportunities
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Threats
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Fleet and new orders
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 65: British Airways’ fleet* & future orders as of 31 December 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Frequent-flyer programme
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Current developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Fastest-growing business-travel routes for SMEs
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Upgrades for World Traveller Plus
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Outlook for 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Ryanair

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • SWOT
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Strengths
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Weaknesses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Opportunities
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Threats
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Ryanair’s strategy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Fleet
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • New orders
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Frequent-flyer programme
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Current developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Ryanair voted worst UK airline
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Ryanair retreats from ‘Amazon of Travel’ strategy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Outlook for 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • China Eastern Airlines

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • SWOT
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Strengths
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Weaknesses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Opportunities
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Threats
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Regional network and competition
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Taiwan and Macau routes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • International routes and competition
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Distribution
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Travel agency network
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Intermodal development
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Fleet
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 66: China Eastern’s fleet at 31 December 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • New orders
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 67: Recent & future deliveries & retirement, 2018-19
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Frequent-flyer programme
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Current developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • New routes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • China Eastern adds Gatwick
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Outlook for 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • What Next?

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • More bankruptcies and consolidation in Europe?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Higher costs boosting fares on some routes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Long-haul LCC travel becoming a reality?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • JetBlue’s possible European expansion
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Current long-haul LCCs under pressure

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Airlines Worldwide - International - March 2019

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    US $1,912.55 (Excl.Tax)