Upon course completion, students will be able to:
1. Recognize the characteristics, scope, and economic significance of the Aerospace/Air Transportation industries and their major business segments - the government market and the commercial market for air transport and general aviation aircraft.
2. Describe the historical development of US airlines including the federal legislation affecting the industry's growth and development and identify and discuss the roles of the Department of Transportation (DOT), Federal Aviation Administration (FAA), the Transportation Security Administration (TSA), the National Transportation Safety Board (NTSB), and other prominent aviation trade associations.
3. Discuss the development of the U.S. airline industry in the era of economic regulation, the factors leading to deregulation; describe the post-deregulation expansion, consolidation, and concentration of the industry, as well as the current trend of intra-industry agreements.
4. Recognize the principles and practices of managerial planning, organizing, staffing, directing, and controlling; describe the organizational structure of a typical major air carrier, to include the purposes and function of various administrations and departments.
5. Discuss the importance of forecasting in relation to analysis, planning, and control; describe the primary airline forecasting methods.
6. Explain the activities involved in marketing air transportation, and examine strategies designed to gain market share, increase product development, and penetrate new markets.
7. Examine the determinants of airline passenger demand and the elasticity of demand, pricing strategies, inventory/yield management, operating costs, profit maximization, and output determination in the short run.
8. Identify the three types of air cargo operations. Distinguish between air-express, air freight, air mail services. Describe the factors affecting airline scheduling, and discuss the problems of traffic flow, schedule sensitivity, and financial leverage of load factors. Discuss the aircraft/fleet planning process from the standpoint of the manufacturer and the individual carrier.
9. Explain labor - management relations in the airlines industry and its regulation under the Railway Labor Act and examine the major sources of funding, cash management, and financial planning for the airlines.
10. Describe the principles of international airline operations, globalization, the role of international conferences and conventions, and discuss the passage of the International Air Transportation Competition Act of 1979.