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Southwest Effect
The Southwest Effect is the increase in airline travel originating from a community after service to and from that community is inaugurated by Southwest Airlines, or another airline that improves service or lowers cost. Original description The U.S. Department of Transportation coined the term in 1993, to describe the considerable boost in air travel that invariably resulted from Southwest's entry into new markets, or by another airline's similar activity. The Southwest Effect was said to have three elements: * The new-entrant airline ''increased supply'' and ''offered lower prices''. Southwest offered dramatically lower air fares than established airlines that usually enjoyed a near-monopoly in the communities. * Incumbent ''airlines lowered their own fares''. Established airlines competing with Southwest Airlines sought to avoid Southwest's entering their markets, and feared losing passengers and having to offer lower prices. Upon Southwest's entry, incumbent carriers lowered t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Airline
An airline is a company that provides civil aviation, air transport services for traveling passengers and freight. Airlines use aircraft to supply these services and may form partnerships or Airline alliance, alliances with other airlines for codeshare agreements, in which they both offer and operate the same flight. Generally, airline companies are recognized with an Air operator's certificate, air operating certificate or license issued by a governmental aviation body. Airlines may be scheduled or Air charter, charter operators. The List of airlines by foundation date, first airline was the German airship company DELAG, founded on November 16, 1909. The four oldest non-airship airlines that still exist are the Netherlands' KLM (1919), Colombia's Avianca (1919), Australia's Qantas (1920) and the Czech Republic's Czech Airlines (1923). Airline ownership has seen a shift from mostly personal ownership until the 1930s to government-ownership of major airlines from the 1940s to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Southwest Airlines
Southwest Airlines Co., typically referred to as Southwest, is one of the major airlines of the United States and the world's largest low-cost carrier. It is headquartered in Dallas, Texas, and has scheduled service to 121 destinations in the United States and 10 additional countries. , Southwest carried more domestic passengers than any other United States airline. The airline was established on March 15, 1967, by Herb Kelleher and Rollin King as Air Southwest Co. and adopted its current name, Southwest Airlines Co., in 1971, when it began operating as an intrastate airline wholly within the state of Texas, first flying between Dallas, Houston, and San Antonio. It began regional interstate service in 1979, expanding nationwide in the following decades. Southwest currently serves airports in 42 states and multiple Central American destinations. Southwest's business model is distinct from other US airlines as it uses a rolling hub and point-to-point network and allows free che ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply (economics)
In economics, supply is the amount of a resource that firms, producers, labourers, providers of financial assets, or other economic agents are willing and able to provide to the marketplace or to an individual. Supply can be in produced goods, labour time, raw materials, or any other scarce or valuable object. Supply is often plotted graphically as a supply curve, with the price per unit on the vertical axis and quantity supplied as a function of price on the horizontal axis. This reversal of the usual position of the dependent variable and the independent variable is an unfortunate but standard convention. The supply curve can be either for an individual seller or for the market as a whole, adding up the quantity supplied by all sellers. The quantity supplied is for a particular time period (e.g., the tons of steel a firm would supply in a year), but the units and time are often omitted in theoretical presentations. In the goods market, supply is the amount of a product per u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopoly
A monopoly (from Greek language, Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or company, enterprise is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a Market (economics), market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market. Monopolies are thus characterized by a lack of economic Competition (economics), competition to produce the good (economics), good or Service (economics), service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb ''monopolise'' or ''monopolize'' refers to the ''process'' by which a company gains the ability to raise ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition (companies)
In economics, competition is a scenario where different economic firmsThis article follows the general economic convention of referring to all actors as firms; examples in include individuals and brands or divisions within the same (legal) firm. are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater the selection of a good is in the market, prices are typically lower for the products, compared to what the price would be if there was no competition (monopoly) or little competition ( oligopoly). The level of competition that exists within the market is dependent on a variety of factors both on the firm/ seller side; the number of firms, barriers to entry, information, and availability/ accessibility of resourc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market (economics)
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society. Markets allow any tradeable item to be evaluated and priced. A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods. Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for sale (local produce or stock registration). Markets can dif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profitability
In economics, profit is the difference between the revenue that an economic entity has received from its outputs and the total cost of its inputs. It is equal to total revenue minus total cost, including both explicit and implicit costs. It is different from accounting profit, which only relates to the explicit costs that appear on a firm's financial statements. An accountant measures the firm's accounting profit as the firm's total revenue minus only the firm's explicit costs. An economist includes all costs, both explicit and implicit costs, when analyzing a firm. Therefore, economic profit is smaller than accounting profit. ''Normal profit'' is often viewed in conjunction with economic profit. Normal profits in business refer to a situation where a company generates revenue that is equal to the total costs incurred in its operation, thus allowing it to remain operational in a competitive industry. It is the minimum profit level that a company can achieve to justify its cont ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demand
In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. The relationship between price and quantity demand is also called the demand curve. Demand for a specific item is a function of an item's perceived necessity, price, perceived quality, convenience, available alternatives, purchasers' disposable income and tastes, and many other options. Factors influencing demand Innumerable factors and circumstances affect a consumer's willingness or to buy a good. Some of the common factors are: The price of the commodity: The basic demand relationship is between potential prices of a good and the quantities that would be purchased at those prices. Generally, the relationship is negative, meaning that an increase in price will induce a decrease in the quantity demanded. This negative relationship is embodied in the downward slope of the consumer demand curve. The assumption of a negative relationship is reaso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JetBlue
JetBlue Airways Corporation (stylized as jetBlue) is a major American low cost airline, and the seventh largest airline in North America by passengers carried. The airline is headquartered in the Long Island City neighborhood of the New York City borough of Queens; it also maintains corporate offices in Utah and Florida. In 2020, it ranked #394 financially on the Fortune 500 list of the largest United States corporations by total revenue. JetBlue operates over 1,000 flights daily and serves 100 domestic and international network destinations in the United States, Canada, Mexico, the Caribbean, Central America, South America, and Europe. JetBlue is not a member of any of the three major airline alliances but it has codeshare agreements with 21 airlines, including member airlines of Oneworld, SkyTeam, and Star Alliance. History 1998–2000 founding JetBlue was incorporated in Delaware in August 1998 with its headquarters in Forest Hills, Queens. David Neeleman founded the co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Allegiant Air
Allegiant Air (usually shortened to Allegiant) is an ultra low-cost U.S. carrier that operates scheduled and charter flights. It is a major air carrier, the fourteenth-largest commercial airline in North America. Allegiant was founded in 1997 and is wholly owned by Allegiant Travel Company, a publicly traded company with 4,000 employees and over US$2.6 billion market capitalization . The corporate headquarters are in Summerlin, Nevada, a suburb of Las Vegas.Velotta, Richard N"Vegas-based Allegiant Air finds new home in Summerlin"''The Las Vegas Review Journal'', August 28, 2014 History Establishment Allegiant Air was founded in January 1997 by Mitch Allee (owner, CEO), Jim Patterson (president) and Dave Beadle (chief pilot), under the name WestJet Express. After losing a trademark dispute with West Jet Air Center of Rapid City, South Dakota, and recognizing the name's similarity to WestJet Airlines of Calgary, Alberta, the airline adopted the name Allegiant Air and receiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spirit Airlines
Spirit Airlines Inc. (stylized as spirit) is a major ultra-low-cost U.S. carrier headquartered in Miramar, Florida, in the Miami metropolitan area. Spirit operates scheduled flights throughout the United States, the Caribbean and Latin America. Spirit was the eighth largest passenger carrier in North America as well as the largest ultra-low-cost carrier in North America. JetBlue has made an offer to acquire Spirit for . , the deal was approved by a majority of the airline's voting shareholders, but the offer awaits approval by government regulators. History Establishment 1964–2007 The company initially started as Clippert Trucking Company in 1964. The company changed its name to Ground Air Transfer, Inc., in 1974. The airline service was founded in 1983 in Macomb County, Michigan, by Ned Homfeld as Charter One Airlines, a Detroit-based charter tour operator providing travel packages to entertainment destinations such as Atlantic City, Las Vegas, and the Bahamas. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
USA Today
''USA Today'' (stylized in all uppercase) is an American daily middle-market newspaper and news broadcasting company. Founded by Al Neuharth on September 15, 1982, the newspaper operates from Gannett's corporate headquarters in Tysons, Virginia. Its newspaper is printed at 37 sites across the United States and at five additional sites internationally. The paper's dynamic design influenced the style of local, regional, and national newspapers worldwide through its use of concise reports, colorized images, Infographic, informational graphics, and inclusion of popular culture stories, among other distinct features. With an average print circulation of 159,233 as of 2022, a digital-only subscriber base of 504,000 as of 2019, and an approximate daily readership of 2.6 million, ''USA Today'' is ranked as the first by circulation on the list of newspapers in the United States. It has been shown to maintain a generally center-left audience, in regards to political persuasion. ''US ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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