Aviation and the Airline Industry

This book presents a selected number of international aviation-specific cases, with an emphasis being placed on Greece, as a number of investment opportunities arise and its economy is recovering from a nine-year turmoil. Aviation has come a long way since its inceptions and is regarded as the safest mode of transport; an achievement that has been built on accumulated experience. The incorporation of redundant systems is aimed at eliminating potential failure causes. Indeed, the introduction of sophisticated computers and cutting-edge technology has led to a decrease in accidents per se. The paper by J.A. Richter though suggests that the "safety-first" culture spearheaded by air carriers may be at risk. Market insighters claim that the aviation sector will continue to grow at a rate around 3% with the Asia-Pacific area showing the highest increase. The latter may be in part due to the introduction of policies that are fostering the role of market forces in the aviation industry. The paper by M. A. Abdullah et al using stochastic frontier analysis argues that production inefficiencies have occurred, which may be the outcome of global competition and suggest that air carriers ought to adjust to a more competitive international market. In anticipation of a constant rise in passenger numbers, aircraft manufacturers Boeing and Airbus have opted for different approaches in terms of meeting anticipated market demands. In doing so, Airbus introduced the double-decker A380 aircraft, with Emirates being its main customer followed by the leading European flag carriers. The marketing of the A380 has inadvertently affected airport service providers, Regulatory Bodies and Air carriers. As Greece is at the crossroads of Europe, Asia and the Middle East, author S. Topouris examines the possibility of the new Athens International Airport, AIA, to serve as an A380 scheduled airport. Athens International Airport is the successor of the former Hellinikon Airport, which terminated operations on March 28th, 2001, as it had reached its saturation point. Owing to Greece's geographical particularities and the numerous scattered islands, aircraft and vessels are the primary modes of transport showing an increased trend. The study by P. Meimaris et al, provide preliminary data pertaining to the amount of emitted greenhouse gases, GHG, from civil aircraft flying within Hellenic Air Space, HAS. This work equally acknowledges the effect of wildfires in amplifying the percentage of GHGs within a region. Greece's geostrategic location amidst the crossroads of Europe, Asia, Africa and the Middle-East is facilitating a higher amount of passenger and freight movements to a number of European metropolises. The cities of Athens and Piraeus act as European gateways for both air carriers and maritime companies, respectively. Acknowledging Europe's White Paper on Transport, this work introduces a bold approach of minimizing greenhouse gases by turning part of Greece's railway system into a high-speed network, which is deemed to augment its economy in the long-term. The work by V. M. Kafasis elaborates on the emerging opportunities in Greece's aviation industry, resulting from the introduction of Law 4568/2018 pertaining to the licensing, operation and utilization of waterdromes. The development and operation of seaplanes is expected to offer a flexible alternative, which, in turn, may foster inter-connectivity and enhance remote area accessibility, while improving financial performance indicators. The successive European Air Liberalisation Acts inadvertently affected a number of European flag carriers. The 2008 financial crisis that spread across Europe had a profound impact on Cypriot Economy, in particular during the (2011-2012) period. Author C. Hailis discusses the effect of the financial crisis in Cyprus' aviation market, while providing an insight on Cyprus Airways.