Offers may be subject to change without notice. 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. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Global commitments are preferred over regional initiatives to ensure the competitiveness of the aviation sector and its supply of fuel. Federal regulations related to the airline industry can be found under Title 14 of the Code of Federal Regulations (14 C.F.R.) In the past few years, there has been a reduction in business class travelling which is a huge loss for the companies. This is the third time in the past two years that this administration has taken major action to regulate greenhouse gases in a way that is legally defensible, reduces CO2 and protects American jobs, Andrew Wheeler, the head of the Environmental Protection Agency, said on a telephone call with reporters Wednesday morning. Legal Factors To operate in a society, a business must abide by laws. The letter L in the word All these economic factors resulted in increased bankruptcies of major airline companies. Proposes Airplane Emission Standards That Airlines Already Meet, https://www.nytimes.com/2020/07/22/climate/airplanes-climate-change.html. This is a major obstacle as airlines will start losing customers in areas that have high-security threats. 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. These regulations cover all aspects of the airline industry, including the airlines themselves (carriers), as well as their equipment (aircraft) and pilots (airmen). Economic Factors - These factors represent the wider economy. 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. This years survey focused on three issues facing the aviation aftermarket: continuing challenges of labor shortages, cost management, and sustainability. Researching As a result, they require government intervention. Airline manufacturers praised the rule. The 17th edition of the Global Risk Report unpacks some of the critical global tensions that may worsen the pandemics cascading impacts. WebPESTLE stands for Political, Economic Socio-Cultural, Technological, Legal and Environmental. 2019 regulation on greenhouse emissions from power plants, April rule governing emissions from vehicle tailpipes. In the medium run, airline companies face two uncertainties: The cost of health-related measures. The aviation industry also conducts advertising campaign on the social platform for attracting more clients. 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. Climate changes also have an impact on the aviation industry as airlines are now required to practice green flying procedure for protecting the environment. Automation is yet another factor affecting the airline industry as people make use of Skype features or hold a conference call instead of travelling. Reference ID: 0.3f460317.1677741366.32f6903e. 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. Its also impacted by issues like war, terrorism, and the outbreak of diseasessuch as Ebola. In order to meet the changing demands of consumers, airlines are required to incorporate changes. This means that reaching carbon neutrality in 2050 means acting today. 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. Many of these materials are provided as searchable full-text PDFs. The pent-up demand for air travel in the United States is unlikely to subside with the emergence of the Omicron variant. Overview: External factors that influence the airline industry (Part 3 of 9), Political and legal factors that impact the airline industry. Thank you for your interest in the U.S. Securities and Exchange Commission. To match the reduced demand, airlines were forced to cut capacity by 2.8% in 2001 and 3.9% in 2002. Read those pages for additional information regarding the legal solutions our industry teams provide. John F. O'Connell; George Williams (Editor), Attention All Passengers: The Airlines' Dangerous Descent -- and How to Reclaim Our Skies, Clipped Wings: Corporate Social Responsibility and the Airline Industry, From Lowlands to High Skies: a Multilevel Jurisdictional Approach Towards Air Law, Full Upright and Locked Position: Not-So-Comfortable Truths About Air Travel Today, Peter Belobaba (Editor); Cynthia Barnhart (Editor); Amedeo Odoni (Editor), International Air Carrier Liability: Safety and Security, Andrew J. Harakas; American Bar Association, Tort Trial and Insurance Practice Section Staff (Contribution by), Managing the Skies: Public Policy, Organization, and Financing of Air Traffic Management, The Principles and Practice of International Aviation Law, Progressive Commercialization of Airline Governance Culture, The Routledge Companion to Air Transport Management, Nigel Halpern (Editor); Anne Graham (Editor), https://guides.library.harvard.edu/aviation_regulation, Regulation of the Aviation Industry: Major Players, Title 14 of the Code of Federal Regulations, Researching Aviation Law Topics: Selected Treatises, Researching Aviation Law Topics: HOLLIS Searches, Researching Aviation Law Topics: Book Series, Researching Aviation Law Topics: Getting the Deal Through, Airline Deregulation Act of 1978: Selected Research Resources, https://www.transportation.gov/airconsumer, https://www.gpo.gov/fdsys/pkg/CFR-2004-title14-vol1/content-detail.html, https://www.loc.gov/aba/cataloging/subject/, HOLLIS Subject Search: Aeronautics -- Commercial -- Deregulation, HOLLIS Subject Search: Aeronautics -- Law and Legislation, HOLLIS Subject Search: Airlines -- Deregulation, HOLLIS Subject Search: Airlines -- Management, HOLLIS Subject Search: Carriers -- Law and Legislation, HOLLIS Subject Search: Liability for Aircraft Accidents, HOLLIS Subject Search: Products Liability -- Airplanes, HOLLIS Subject Search: United States -- Federal Aviation Administration, Essential Air and Space Law (Eleven International Publishing), Getting the Deal Through: Air Transport - United States, Journal of Air Law and Commerce (Journal), Transportation Law Emerging Issues (Current Awareness Service), Transportation Safety and Insurance Law (Treatise), Airline Industry Information (Current Awareness Service), Aviation Tort and Regulatory Law (Treatise), Federal Aviation Administration Administrative Decisions and Guidance, US Code Annotated (USCA) - Title 49, Subtitle VII - Aviation Programs, Williston on Contracts: Contracts of Carriage by Sea and Air (Treatise), Airline Deregulation: Changes in Airfares, Service, and Safety at Small, Medium-Sized, and Large Communities, HeinOnline - Legislative History of the Airline Deregulation Act of 1978, ProQuest Legislative Insight - Legislative History of the Airline Deregulation Act of 1978. In 2016, the Obama administration released a legal conclusion known as an endangerment finding, which determined that the planet-warming pollution produced by airplanes endangers human health by contributing to climate change. The links below are to pre-populated searches of the HOLLIS catalog by LCSH keyword. Whenever she can, Marta loves traveling, exploring nature and learning about regenerative agriculture. That notice expires on July 28, but with the release of the draft rule, the environmental groups no longer have grounds to sue the administration to release a regulation on aviation pollution. The tight labor conditions go beyond finding sufficient crews for flights. Article by Klemchuk LLP, an IP law firm. Mulder E (2015) A PEST analysis of external factors that affect the airline industry. voted to repeal a Department of Labor rule, antiquated systems to connect new sources of electricity, the Obama administration released a legal conclusion known as an endangerment finding, which determined that the planet-warming pollution produced by airplanes endangers human health by contributing to climate change. The links below are to sources related to this topic that are available in the Westlaw subscription legal research database. Includes regulatory history, Supreme Court case history, bills, and Congressional materials (reports, hearings, and other documents). Andrew Wheeler, the E.P.A. The airline industry is widely impacted by regulations and restrictions related to international trade, tax policy, and competition. These regulations cover all aspects of the airline industry, including the airlines themselves (carriers), as well as their equipment (aircraft) and pilots (airmen). The Harvard Library collections include some book series that are related to aviation law, and the links below are to pre-populated HOLLIS searches by book series title. For more information on how we can assist with airline industry legal issues please contact us. 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 Additionally, recent crashes and attacks have affected the profitability and viability of the aviation industry quite badly. She is also quite enthusiastic about space ventures and the cosmos. UAE bans its citizens from leaving the country without a booster shot, Hong Kong scraps Covid-19 masks to revive the regions financial hub, South Korea leads in Asias online travel market, Tourism leaders call for united global effort to decarbonise industry, Europes new ETIAS visa system postponed to early 2024, New online dashboard asses European cities cargo bike friendliness, Nationwide rail strike confirmed in Belgium for 10 March, Doha awarded Arab Tourism Capital for 2023. Note: We do not offer technical support for developing or debugging scripted downloading processes. 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. Blog authored by Klemchuk LLP, a patent law firm. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. In this series well use the Political, Economic, Social, Technological, Environmental, and Legal (or PESTEL) framework to analyze the airline industry. My Efficient Planet: How Economic Factors Affect the Airline Industry. Discrimination law Copyright, patents / Intellectual property law Consumer protection and e-commerce Employment law Health and safety law Data Protection Bryan Watt, a spokesman for Boeing, called the new rule a major step forward for protecting the environment and supporting sustainable growth of commercial aviation and the United States economy.. President Trump is still pressing forward on his three-and-a-half-year rollback of environmental standards, and the proposed airline rule would stave off an impending lawsuit by putting the federal government in compliance with a legal requirement that it regulate airplane greenhouse emissions. The links below are to sources related to this topic that are available in the LexisAdvancesubscription legal research database. That plan required a 4-percent reduction in fuel consumption of new aircraft starting in 2028 compared with 2015 deliveries. Passengers now prefer to access ticketing and check-in services through their hand-held devices instead of forming a line or booking manually. Air travel accounts for about 2.5 percent of global carbon dioxide emissions, a far smaller share than emissions from passenger cars or power plants. In addition, this Title includes regulations regarding airspace and air traffic. The U.S. airline industry revenue decreased to $107.1 billion in 2002 from $130.2 billion in 2000. The recent economic recession made the travel market to see its lowest period. Government Accountability Office (GAO) report to the Senate Committee on Commerce, Science, and Transportation, April 1996. Note: This book is not available in the Harvard Library collections. PESTLE analysis is a strategic method through which airline companies can weigh all external factors that are affecting business. to establish a rule. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. Airline companies face similar legal issues as businesses in theAutomotive, Technology, and Retailindustries. Financial impact of September 11, 2001, on the airline industry. Note: In HOLLIS, you can limit a search results list, such as by type of resource, date, or holding library, by using the filtering options on the right side of the screen. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website. If you are an affiliate of Harvard Law School, you are welcome to contact us at research@law.harvard.edu for additional help. In this section, we will have a look at the external factors affecting companies in the airline industry. Click a link to view its search results. Book records in the HOLLIS library catalog generally include one or more Library of Congress Subject Headings (LCSH) (https://www.loc.gov/aba/cataloging/subject/). As the single most important cost, policies affecting both fuel supply and price greatly affect airline viability. According to an upcoming analysis by Mr. Rutherfords group, new aircraft had met the 2028 standard by 2016. Revenue per available seat mile (RASM), Global Fleet & MRO Market Forecast 20222032. means that reaching carbon neutrality in 2050 means acting today. Regulatory Bodies Jeff holds a Bachelor of Science in journalism from Northwestern University and a Master of Business Administration in marketing from the University of Chicago. If he wins the presidency, his administration would most likely ignore the Trump proposal and write a new, more stringent one. As a result, they require government intervention. We reserve the right to block IP addresses that submit excessive requests. Marsh McLennan is the leader in risk, strategy and people, helping clients navigate a dynamic environment through four global businesses. Two important macro-environmental factors that may affect an organisation in the airlines industry are Economic and Technological factors. 2020-2022 Travel Tomorrow - Flagship brand of. Ecological factors impact the airline industry the most than any other industry. This process involves huge finances; however, airlines cannot even compromise because even the passengers are held accountable for their carbon footprint. Environmentalists have long said aviation emissions need to be reduced to prevent the worst effects of global warming. 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. Materials from the ProQuest Legislative Insight subscription database. The Global Risks Report 2022: Worlds Apart. This section specifically discusses the US law of air transport. 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. The importance of technological factors can be understood from the heavy use of technology in the global airline industry. Its also impacted by issues like Several policies have been devised to protect passengers more than the aviation industry. 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. Political Factors 85% of senior executives in Oliver Wymans annual maintenance, repair, and overhaul survey, the International Air Transport Association (IATA) put out a statement, a record number of passenger-to-freighter (P2F) conversions. Please declare your traffic by updating your user agent to include company specific information. WebDemand for air travel is also affected by factors such as economic conditions, war or the threat of war, fare levels and weather conditions. 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. 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. The airline rules would be similar; critics say the substance of the proposal does little more than codify a set of standards largely created by the aviation industry As a subscriber, you have 10 gift articles to give each month. Booking.com awaits Supreme Court ruling as the USPTO appeals previous decisions finding BOOKING.COM, though a combination of generic terms, can be protected through trademark registration. These issues are political. According to the Global Market Insights (GMI), the aviation industry was already facing 8 top challenges prior to the Covid-19 era. Political and legal factors that impact the airline industry. Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. Market Realist is a registered trademark. Customers tend to choose airlines based on the characteristics of their services, which include on-board amenities, safety, entertainment, and ground services (Wen & Yeh, 2010). Anyone can read what you share. Weve uncovered eight burgeoning archetypes, surfaced through industry-leading research, that provoke disruptions in the way the world thinks and what it values. In addition, this Title includes regulations regarding airspace and air traffic. That way, companies could continue to sell American-made planes abroad. These include supply decisions by oil suppliers, refinery expansion by oil companies and government decisions to open offshore drilling and fund alternate fuel research. This increasing cost of doing business, facing competition from low-cost airlines, abiding with the rules and regulations imposed by the government as well as changes in the profile and demand of consumers have led the industry to make its external factor analysis for meeting the industry requirements. Other agencies that are also involved in this work, some of which fall under the DOT umbrella, include the following: Airlines for America (A4A) (http://airlines.org) is the major advocacy organization for the commercial aviation industry in the United States. Passenger traffic decreased by 5.9% year-over-year (or YoY) in 2001 and 1.4% in 2002. Airline operations traverse wide geographic areas and are affected by policies imposed by governments at all levels local, national and international. To showcase and help us 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. WebPESTLE Analysis of Airline Industry Political Environment. At EU level, the ReFuelEU Aviation initiative aims to boost the supply and demand for sustainable aviation fuels in the EU, in order to reduce aviations environmental footprint and enable it to help achieve the EUs climate targets. Source: HeinOnline subscription database. taxation changes, economic growth, inflation and tariff is the most important Below is a list of selected treatises on this topic that are available from the collections of the Harvard Library. 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. It took three years for the global airline industry to recover the 6% decline in revenue between 2000 and 2001. Getting the Deal Through is a subscription database that provides information about applicable law in several business-related practice areas for multiple jurisdictions. Economic Factors Affecting the Airline Industry. Financially weak carriers even went into bankruptcy during the period. The results indicated that political, economic, technological and legal factors had a significant negative correlation (p<0.05) with airline performances whilst socio-cultural factors had a significant positive correlation (p<0.05) with airline performances. Harvard University Digital Accessibility Policy. All Rights Reserved. Increased technological advancements can make airlines gain profits through offering safety and enhanced services. Government Policies Government policies directly affect the airline industry. The airline industry is widely impacted by regulations and restrictions related to international trade, tax policy, and competition. So while Times staff members may vote, they are not allowed to endorse or campaign for candidates or political causes. Aviation is a complex industry governed by an extensive regulatory environment. In most countries, there are strict regulations for the aviation industry. But those emissions are projected to triple by 2050, according to the International Civil Aviation Organization. For more information, please see the SECs Web Site Privacy and Security Policy. Prevent the worst effects of global warming ) Report to the Covid-19 era three for. Imposed by governments at all, the aviation sector and its supply of fuel decreased by 5.9 year-over-year. Space ventures and the outbreak of diseasessuch as Ebola these economic factors affect airline... Information regarding the legal solutions our industry teams provide profits through offering safety and enhanced services was! Between 2000 and 2001 supply and demand the Trump proposal legal factors affecting airline industry write a new, more stringent.! The medium run, airline companies stringent one understood from the heavy use of features. Factors which affected to the Covid-19 era instead of forming a line or booking manually the changing demands consumers... 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