In the year 2001, worldwide airlines industry generated $281billion from 1.5 billion passenger journeys. The European market as a whole garners a large proportion of air travel.
The emergence of budget airlines has revolutionised air travel. It has made rapid strides over the past five years. In the UK along it accounts for 14 per cent of the total airline industry. A market study conducted by the Mercer Management Consulting predicts that low cost airlines would increase their market share from 5% to 25% in Europe by 2010.
This report provides an analysis of the “No frills” concept and its growing impact on the European Airline Industry.
