Emirates Airlines

11 Pages 2641 Words

n, 2001 was already a difficult year for the airline industry. But the tragic events of September 11th plunged the airline industry into its worst-ever year, with a number of revered names threatened with collapse and erstwhile profitable companies making record loses. No airlines were immune. Global passenger traffic declined by 4% and cargo by 9% in the aftermath of September 11th. In sum, the world airlines lost some U.S$ 12 billion during this period and, together with the manufacturers and the wider travel and tourism industry; hundred of thousands of employees became redundant. According to research by the World Travel and Tourism Council, global travel and tourism demand declined by 404% in real terms in 2001 and is expected to fall by another 3% in 2002. One major concern of all airlines after September 11th is the expected rise in aviation insurance.

For Ryanair, after September 11th, overall booking was down by 10% on normal. But it recovered rapidly from the aftermath of September 11th. The main reason why September 11th ...