Aviation Industry

This essay is going to look on the impact that is affected by the current economic situation on future growth of aviation industry. According to Cullen (2002:03) economic is defining as “the ways in which individuals, groups and organizations use resources to improve their well-being". So, in case of airline industry, they use those resources to get more passengers and bring profit to their company. However, if the economic does not work out or have been decreasing it will fail to support the aviation industry and bring loss to their company as well. The current economic situation in the UK has been recovering from their last few years recession but to avoid any impacts on future, the aviation industry need to consider the resources and used it properly.
According to Harris (No Date) the history of aviation industries started from the early 20th century where first commercial airlines were launched and include of Pan American, Western Air Express and Ford Transport Service. In mid-century “Civil Aeronautics “function two duties in aviation industries which were regulating prices for passenger fares and regulating the prices. Moving to late 20th century the new market were emerged and new routes were connected to the cities for airlines. The number of passengers and competition were increasing. As there were more competiiton within airlines, carries like Pan American failed to compete and collapsed. In 21st century aviaition industry faced problems with economic downturn such as rise of the fuel costs. This industry did not got any profit until 2006 and they had to dealt with issues like decline in number of customers and high operating costs. So on these current years, the aviaition industries are dealing with those isssue and changing their rules for satisfaction of customers and profit to their airlines.
Aviation industry has been leading and vastly developed industry in the world. Globally, these industries contibute with generating employment and carrying...