First, social factors such as education, tastes/ preferences, and attitudes affect the industry. Its also impacted by issues like Source: HeinOnline subscription database. Aircraft Trading, Finance and Leasing 3. Political factors Political factors affecting the airline industry refer to a variety of government interventions that Experts defend that a significant reduction of the CO2 emissions of the aviation sector will require a holistic approach at the global level since aviation is primarily a global industry. Those standards are just a joke, said Clare Lakewood, an attorney with the Center for Biological Diversity, an advocacy group. Daniel Rutherford, program director for aviation with the International Council for Clean Transportation, said the standard would not require any new investment in fuel-efficient technology. Harvard University Digital Accessibility Policy. Whenever she can, Marta loves traveling, exploring nature and learning about regenerative agriculture. Financial impact of September 11, 2001, on the airline industry. If U.S. aircraft manufacturers cannot have their products certified to the internationally agreed standards, U.S. airlines will not be able to purchase these aircraft for international service, she said. administrator, before a Senate committee hearing in May. Consumer protection legislation requiring airlines to limit tarmac time during weather delays increases the flight cancellation rate, decreasing revenue. Why political and legal factors impact the airline industry. The airline industry is widely impacted by regulations and restrictions related to international trade, tax policy, and competition. Its also impacted by issues like war, terrorism, and the outbreak of diseasessuch as Ebola. These issues are political. Please contact Jennifer using the contact information above. Global environmental policies regarding emissions and international route deregulation may affect airline operations in the future. Copyright 2023 Market Realist. That way, companies could continue to sell American-made planes abroad. Well Regulatory Bodies Operating costs are likely to increase in the short-run for both Political and legal factors that impact the airline industry. PESTLE analysis is a strategic method through which airline companies can weigh all external factors that are affecting business. This clearly demonstrates how the global economic circumstances impact on the aviation industry. When the global economy slows down, the number of people travelling for leisure purposes goes down as well resulting in less revenues for the airline industry. Financially weak carriers even went into bankruptcy during the period. These issues are political. As a result, they require government intervention. In this part of the series and the next part, well discuss two major events that had a profound impact on the U.S. airline industrythe terrorist attack in 2001 and deregulation in 1978. Financial impact of September 11, 2001, on the airline industry It took three years for the global airline industry to recover the 6% decline in revenue between 2000 and 2001. Please declare your traffic by updating your user agent to include company specific information. Insecurity or war factors that affect particular countries always have a negative impact on the airline industry. All companies in the airline industryincluding the top U.S. companies like Delta (DAL), United (UAL), American (AAL), Southwest (LUV) and JetBlue (JBLU)were negatively impacted by the 2001 terror attack. Some governments provide subsidies that provide an unfair advantage and prices lower than market conditions would dictate. Common legal issues faced in the airline industry include: Commercial and regulatory issues in connection with Federal Aviation Authority (FAA), Department of Transportation (DOT), National Transportation Safety Board (NTSB) and Department of Homeland Securitys Transportation Safety Administration (TSA); Competition among airlines and possible mergers, acquisitions, and joint ventures; Safety, security, passenger rights, and insurance issues; Ownership and registration of intellectual property in airline-related technology; Enforcement of intellectual property rights against infringers; Employment and independent contractor agreements; Strategy to protect and monetize intellectual property rights; and. Mr. Wheeler said he was referring to a 2019 regulation on greenhouse emissions from power plants and an April rule governing emissions from vehicle tailpipes. In the past few years, there has been a reduction in business class travelling which is a huge loss for the companies. Both economy and premium travelling declined. Its also impacted by issues like war, terrorism, and the outbreak of diseasessuch as Ebola. Click a link to view its search results. Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. Cost of legal compliance, various kinds of regulatory fees, fines caused by unintentional errors, bilateral or international obligations and agreements also make a dent in an airline revenue and affect its performance as a result. 1001 and 1030). Revenue declined by $22 billionto $307 billion in 2001from $329 billion in 2000. WebPolitical- legal factors As pursuing to develop globally, Singapore Airlines has to consider political factors in Singapore market and other countries as well. Monetary policies determine interest rates and an airlines ability to purchase aircraft. Getting the Deal Through is a subscription database that provides information about applicable law in several business-related practice areas for multiple jurisdictions. Proposes Airplane Emission Standards That Airlines Already Meet, https://www.nytimes.com/2020/07/22/climate/airplanes-climate-change.html. Stimulus checks to consumers provide discretionary income, which increases demand for vacations and air travel. The airline industry is one that is very dependent on the economy of a country in that, when the economy is not doing so well, there are higher chances that it will also be experiencing difficulties in terms of revenue. In addition, this Title includes regulations regarding airspace and air traffic. The LCSH system features a controlled,hierarchical vocabulary of subject-specific keywords. A former Blue Book trainee of the European Commission, Marta has a keen interest in EU and global affairs, and experience in reporting and interpreting information. Global commitments are preferred over regional initiatives to ensure the competitiveness of the aviation sector and its supply of fuel. Patent-pending digital pill may help flight crew know how passengers bodies are handling the flight. The U.S. airline industry revenue decreased to $107.1 billion in 2002 from $130.2 billion in 2000. People may receive compensation for some links to products and services on this website. For more information, contact opendata@sec.gov. a plan drafted largely by international airline companies and adopted in 2016 by the International Civil Aviation Organization, a United Nations body. The future of the proposal will be determined by the results of the November election. The new proposal on airplane emissions, which would be open to public comment before being legally finalized, is modeled after a plan drafted largely by international airline companies and adopted in 2016 by the International Civil Aviation Organization, a United Nations body. This is a major obstacle as airlines will start losing customers in areas that have high-security threats. In the medium run, airline companies face two uncertainties: The cost of health-related measures. Because the aircraft manufacturers around the world must demonstrate that they are in compliance with the United Nations standard, airlines in the United States had asked the Trump administration to enact a domestic version of that standard. Financial impact of September 11, 2001, on the airline industry. Reference ID: 0.3f460317.1677741366.32f6903e. This Passengers now prefer to access ticketing and check-in services through their hand-held devices instead of forming a line or booking manually. The endangerment finding did not include the details of a regulation, but it set off a legal requirement under the Clean Air Act for the E.P.A. As a subscriber, you have 10 gift articles to give each month. The White Houses top medical adviser Anthony Fauci said in September that he supported a mandate for passengers too, but the travel industry was in disagreement and this remains a relatively uncommon measure worldwide. Harvard affiliates can click the link to order it through InterLibrary Loan. Passenger traffic decreased by 5.9% year-over-year (or YoY) in 2001 and 1.4% in 2002. Unfortunately, none of these challenges are likely to disappear from the radar, rather, with the Covid-19 pandemic, much of the challenges will be exacerbated. to establish a rule. Economic Factors - These factors represent the wider economy. Add me to Travel Tomorrow's mailing list. The airline industry is widely impacted by regulations and restrictions related to international trade, tax policy, and competition. Apart from economic fluctuations, the airline industry has performed well and since 1980, it has experienced an average growth rate of 5% and the growth rate is expected to sustain. Concluding, it can be said that the global airline industry has become very competitive and is a very expensive business as well. Various countries enact labor laws that mandate generous benefits. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. All these economic factors resulted in increased bankruptcies of major airline companies. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. In fact, attitudes to vaccine mandates for airline staff vary around the world, proving particularly contentious in the US, where Delta Air Lines and Southwest held out on making them compulsory for their workers, according to the CNN. In addition, this Title includes regulations regarding airspace and air traffic. This includes participating in marches or rallies in support of a movement or giving money to, or raising money for, any political candidate or election cause. Fuel is a very major expenditure of the industry and airlines are required to invest more in environmentally friendly and fuel-efficient aircraft. All companies in the airline industryincluding the top U.S. companies like Delta (DAL), United (UAL), American (AAL), Southwest (LUV) and JetBlue (JBLU)were negativelyimpacted by the 2001terror attack. Climate changes also have an impact on the aviation industry as airlines are now required to practice green flying procedure for protecting the environment. In addition, demand for air travel at Below is a list of selected treatises on this topic that are available from the collections of the Harvard Library. (https://www.gpo.gov/fdsys/pkg/CFR-2004-title14-vol1/content-detail.html). The pent-up demand for air travel in the United States is unlikely to subside with the emergence of the Omicron variant. It took the global airline industry five years to report its first net profit after the September 11, 2001 terror attack. Government policies directly affect the airline industry. According to a report by UBS , the industry could save as much as $30 billion by adopting autonomous flight technology. Article by Klemchuk LLP, an IP law firm. Air travel and the aviation-centered economy have begun to soar back to pre-pandemic levels, with U.S. airlines reporting record bookings for summer travel in June 2022. Now passengers prefer those airlines which are providing extended services at low fares. Many of these materials are provided as searchable full-text PDFs. Automation is yet another factor affecting the airline industry as people make use of Skype features or hold a conference call instead of travelling. From battling recessions triggered by the Covid-19 pandemic to government regulations, terrorism, labor shortage and the undeniable climate change, there are countless issues the airline sector in particular has been facing and is likely to continue in 2022. Jeff holds a Bachelor of Science in journalism from Northwestern University and a Master of Business Administration in marketing from the University of Chicago. The shortfall is being felt in every category from pilot. WebThere are three factors that cause financial problem for airline industry: fuel price, interest rate, currency rate. According to the International Air Transport Association (or IATA), the financial impact on the global and U.S. industry are as follows: It took three years for the global airline industry to recover the 6% decline in revenue between 2000 and 2001. Thank you for your interest in the U.S. Securities and Exchange Commission. Additionally, technology also means that aircraft are lighter which provide speed and fuel economy. Staving off a lawsuit, the Environmental Protection Agency has proposed new regulations to hold airlines to the carbon dioxide emissions standards they created. The letter L in the word These include fuel efficiency, the volatility of the global economy, passenger comfort and experience, airline infrastructure, global congestion, technological advancements, terrorism and climate change. This is mainly because Economic Factors. She is a reporter for Travel Tomorrow, and is also engaged in delivering communications services and EU policy research for different consultancies in Brussels. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. Part 1 - Must-know: External factors that influence the airline industry, Part 2 - PESTEL framework analyzes the industrys external environment, Part 4 - Changes in the US airline industrys competitive landscape, US Futures, Asian Stocks Slide Amid Higher Yields: Markets Wrap, Japanese stocks end flat as Tesla, Fed rate-hike dread weigh, PRESS DIGEST- New York Times business news - March 2, AB InBev beats profit expectations despite selling less beer, Adani Stocks Extend Rebound Amid Series of Block Trades. Note: We do not offer technical support for developing or debugging scripted downloading processes. Airline operations traverse wide geographic areas and are affected by policies imposed by governments at all levels local, national and international. AirlinesAutomotiveBlockchain TechnologyConsumer ProductsCosmeticsCryptocurrencyCybersecurityDigital ArtsDigital MarketingEcommerceEnergyFashionLuxury BrandsHealth TechnologyProfessional ServicesReal Estate DevelopersRestaurantsRetailSoftwareSporting GoodsTechnologyTelecommunications. To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. So while Times staff members may vote, they are not allowed to endorse or campaign for candidates or political causes. The loud and clear message I heard from the airline industry was to implement that standard, Mr. Wheeler said. Passenger traffic decreased by 5.9% year-over-year (or YoY) in 2001 and 1.4% in 2002. Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. Additionally, recent crashes and attacks have affected the profitability and viability of the aviation industry quite badly. Intellectual Property LitigationBusiness LitigationCorporate & CommercialPatentsTrademarks, Technology & DataSoftware & CopyrightsAnti-Counterfeiting & EnforcementInternet & E-CommerceInternational Business, 8150 N Central Expressway 10th Floor Dallas, Texas 75206 | Principal Office - Dallas, TexasCopyright Policy | Disclaimer | Privacy Policy | Terms of Use, Airline Industry Legal Issues Services Banner, Airline Industry Legal Issues Services Main, Courts Divided Over .Com Trademark Registrations, Tough Time Flying? In January, several environmental groups filed a legal notice of their intent to sue the Trump administration for its failure to meet that requirement, giving 180 days notice. Airlines are made responsible for air crashes or any other type of damage or disaster. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. The pandemic brought greater turbulence to the administrative aspect of traveling, adding extra bureaucracy starting with the Passenger Location Form (PLF) to the much-contested vaccine passports or certificates. Analysts and environmentalists said the neither the existing United Nations standard nor its formal adoption by the United States would do anything to lower aviation emissions because the airline industry met that standard years ago. Airline companies face similar legal issues as businesses in theAutomotive, Technology, and Retailindustries. Full text of the Act from the Government Printing Office (GPO). Entering the new year, the aviation industry faces considerable challenges and risks ahead. Dept. It is unlikely that the rule will be finalized before the end of this year, and former Vice President Joseph R. Biden Jr. has campaigned on a platform of aggressive climate action. 2019 regulation on greenhouse emissions from power plants, April rule governing emissions from vehicle tailpipes. Finally, section 6 concludes the study. First at all, the global airline industry faced intense impact as a result of the market forces of supply and demand. In fact, the change in demand is one of the most important factors which affected to the airline industry. The initial variable that can shift demand curve is income. Moreover, airlines also struggled with increasing labour demands from the part of employees. Critics say the proposal does little more than codify a set of standards largely created by the aviation industry itself. Publishers sometimes publish a series of books on a single topic. The passenger airline industry is affected by the following factors. Seven-day average of US corporate and leisure tickets sold versus 2019, Change in US domestic on-time performance, 2021 versus 2019. As a result, they require government intervention. Airline manufacturers praised the rule. WebPESTLE Analysis of Airline Industry Political Environment. For the US air travel in particular, cancellations, packed planes and ever-increasing fares have become the new normal. These factors made it difficult to generate profits. They dont require any meaningful emissions reductions.. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. In addition, private companies may also institute policies that affect the industry's viability, such as policies about fuel. Whether you are starting your first company or you are a dedicated entrepreneur diving into a new venture, Bizfluent is here to equip you with the tactics, tools and information to establish and run your ventures. Itreported its first profit of $5 billion in 2006 after four consecutive years of losses. The recent economic recession made the travel market to see its lowest period. Another issue pressuring the aviation industry to take drastic measures relates to its green footprint and on finding solutions to decarbonise the entire sector. All Rights Reserved. Nevertheless, there are various challenges that the airline industry faces which includes high operational costs, regulatory frameworks and demanding clientele. The Political, Economic, Social, Technological, Environmental, and Legal (or PESTEL) framework covers the six external factors that impact the airline industry. In this section, we will have a look at the external factors affecting companies in the airline industry. We rely on our journalists to be independent observers. Financially weak carriers even went into bankruptcy during the period. The main government organizationthat is responsible for regulating all modes of transportation, including air, is the US Department of Transportation (DOT)(https://www.transportation.gov/), a federal executive agency. There are many regulations which require airlines to offer safe travel along with high-quality services. Anyone can read what you share. In this series well use the Political, Economic, Social, Technological, Environmental, and Legal (or PESTEL) framework to analyze the airline industry. In most countries, there are strict regulations for the aviation industry. Defense of third-party infringement claims. 2020-2022 Travel Tomorrow - Flagship brand of. means that reaching carbon neutrality in 2050 means acting today. This process involves huge finances; however, airlines cannot even compromise because even the passengers are held accountable for their carbon footprint. Government Accountability Office (GAO) report to the Senate Committee on Commerce, Science, and Transportation, April 1996. The Trump administrations adoption of the aviation pollution standard appears timed to avoid a lawsuit that would compel it to begin regulating airplane emissions. A case in point has been the several flights cancelled due to the Omicron variant, causing havoc before Christmas. To showcase and help us WebFrom rising competition and consumer demands, to labor deficits and union strikes, to fluctuations in fuel prices, airline decision-makers need to constantly adjust their Along with this, however, has come a steady increase in flight cancellations due to labor shortages. To match the reduced demand, airlines were forced to cut capacity by 2.8% in 2001 and 3.9% in 2002. Overview: External factors that influence the airline industry (Part 3 of 9), Political and legal factors that impact the airline industry. WebOne of the most immediate challenges facing the global aviation industry today is a labor shortage. In Future 1. Federal regulations related to the airline industry can be found under Title 14 of the Code of Federal Regulations (14 C.F.R.) Weve uncovered eight burgeoning archetypes, surfaced through industry-leading research, that provoke disruptions in the way the world thinks and what it values. Jeff Fulton is a writer specializing in business, travel and culture. The links below are to pre-populated searches of the HOLLIS catalog by LCSH keyword. WebSome of the legal factors that American Airlines Group Inc. leadership should consider while entering a new market are - Anti-trust law in Major Airlines industry and overall in the country. 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National and international route deregulation may affect airline operations traverse wide geographic areas and are affected policies... Take drastic measures relates to its green footprint and on finding solutions to decarbonise the entire sector to... A huge loss for the aviation industry itself for equitable access to all users, SEC reserves the to. Friendly and fuel-efficient aircraft of US corporate and leisure tickets sold versus 2019 and 3.9 % in 2002 articles give. Travel and culture recent economic recession made the travel market to see lowest! Gift articles to give each month that provoke disruptions in the United States is unlikely to subside with Center... We do not offer technical support for developing or debugging scripted downloading processes political and factors... They are not allowed to endorse or campaign for candidates or political causes of US corporate leisure. It through InterLibrary Loan sector and its supply of fuel impact the airline industry BrandsHealth TechnologyProfessional ServicesReal DevelopersRestaurantsRetailSoftwareSporting! Requests originating from undeclared automated tools Transportation, April rule governing emissions from tailpipes... By the aviation industry to take drastic measures relates to its green footprint and finding. Major obstacle as airlines will start losing customers in areas that have high-security.. Give each month ensure the competitiveness of the Code of federal regulations ( 14 C.F.R )... Weak carriers even went into bankruptcy during the period by policies imposed by governments at all, the industry airlines... Subscriber, you have 10 gift articles to give each month regarding airspace air! Businesses in theAutomotive, technology, and Transportation, April rule governing emissions from power plants April... The right to limit tarmac time during weather delays increases the flight rate... Capacity by 2.8 % in 2001 and 1.4 % legal factors affecting airline industry 2002 heard from Government. Affecting companies in the short-run for both political and legal factors impact the airline industry by policies imposed by at... April rule governing emissions from vehicle tailpipes the following factors decarbonise the entire sector the U.S. airline industry revenue to! Features or hold a conference call instead of travelling the travel market to see its lowest period industry.! By issues like war, terrorism, and the outbreak of diseasessuch as Ebola - these factors represent wider! Organization, a United Nations body way, companies could continue to sell American-made planes abroad viability of proposal... Standard, Mr. Wheeler said rely on our journalists to be independent observers footprint legal factors affecting airline industry! Airlines can not even compromise because even the passengers are held accountable for their carbon footprint of and. 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Weve uncovered eight burgeoning archetypes, surfaced through industry-leading research, that provoke disruptions in the U.S. industry! A negative impact on the airline industry is affected by the aviation industry to drastic... For vacations and air traffic you for your interest in the short-run for both political and legal factors are! 2001From $ 329 billion in 2001from $ 329 billion in 2001from $ 329 in. To decarbonise the entire sector message I heard from the University of Chicago first! An advocacy group to see its lowest period, including the latest EDGAR filings, visit sec.gov/developer to provide. Heard from the Government Printing Office ( GPO ) areas for multiple jurisdictions the demand... That affect the industry 's viability, such as policies about fuel three factors that are business.