This third edition of Straight and Level thoroughly updates the previous edition with extensive comments on recent industry developments and emerging business models. The discussion is illustrated by current examples drawn from all sectors of the industry and every region of the world. The fundamental structure of earlier editions, now widely used as a framework for air transport management courses, nonetheless remains unchanged. Part 1 of the book provides a strategic context within which to consider the industry's economics. Part 2 is built around a simple yet powerful model that relates operating revenue to operating cost; it examines the most important elements in demand and traffic, price and yield, output and unit cost. Part 3 probes more deeply into three critical aspects of capacity management: network management; fleet management; and revenue management. Part 4 concludes the book by exploring relationships between unit revenue, unit cost, yield, and load factor. Straight and Level has been written primarily for masters-level students on aviation management courses. The book should also be useful to final year undergraduates wanting to prepare for more advanced study. Amongst practitioners, it will appeal to established managers moving from functional posts into general management. More broadly, anyone with knowledge of the airline industry who wants to gain a deeper understanding of its economics at a practical level and an insight into the reasons for its financial volatility should find the book of interest.
Steve Holloway is a former investment banker who has worked as an independent consultant since the early 1990s. He was educated at the London School of Economics, the University of Southern California, and Cranfield. As well as vocational qualifications in the financial services and travel industries, Steve holds advanced degrees in systems management and air transport management.
'Straight and Level tells us where the industry is at, and then it goes into the nuts and bolts. The book is practical and extremely useful for anyone wanting to understand where the industry is and why - and where it could go. A real contribution to the airline industry!' Rodger Robertson, UNSW Aviation, Australia 'Straight and Level: Practical Airline Economics goes beyond being a textbook to being a clear-cut industry manual with relevant and up-to-date examples, allowing readers to understand in real-time the framework of a complex and unique industry. For students at all levels, this book will become a foundation of knowledge and a trusted resource, and one which will never gather dust!' Bryson P. Monteleone,Tailwind Capital, Arlington, Virginia, USA