Iu|| Case Ioana 5tanescu

MG1401



IN1kCDUC1ICN

!eL8lue Alrwavs CorporaLlon ls a passenaer ƍvalue alrllneƍ known for lLs awardŴwlnnlna cusLomer
servlceţ free 1v and low faresŦ !eL8lue operaLes prlmarllv on polnLŴLoŴpolnL rouLes wlLh lLs fleeL of
107 Alrbus A320 alrcrafL and 33 LM88AL8 190 alrcrafLŦ As of 2008ţ Lhe companv served 32
desLlnaLlons ln 19 sLaLesţ ÞuerLo 8lcoţ Mexlcoţ and flve counLrles ln Lhe Carlbbeanţ and LaLln
AmerlcaŦ ln 2008ţ !eL8lue compleLed 98Ŧ4 percenL of Lhelr scheduled fllahLsŦ !eL8lueƌs cusLomer
lovalLv proaramţ 1rue8lue lllahL CraLlLudeţ ls an onllne proaram deslaned Lo reward and recoanlzes
repeaL cusLomersŦ 1he proaram offers lncenLlves Lo lncrease Lravel on !eL8lueŦ 1he companv also has
an aareemenL wlLh Amerlcan Lxpress who lssues coŴbranded credlL cards allowlna cardmembers Lo
earn polnLs ln 1rue8lueŦ 1hev also offer Lhe !eL8lue 8uslness Cardţ whlch provldes small buslness
owners a flve percenL dlscounL on !eL8lue Lravel and auLomaLlc enrollmenL ln Lhe Amerlcan Lxpress
Cpen Savlnas proaramŦ Llve1vţ LLCţ ls a whollv owned subsldlarv of !eL8lue LhaL provldes lnŴfllahL
enLerLalnmenLţ volce communlcaLlon and daLa connecLlvlLv servlces for commerclal and aeneral
avlaLlon alrcrafLŦ ln 2007ţ !eL8lue lnLroduced Lhe !eL8lue Alrwavs CusLomer 8lll of 8lahLsţ whlch
provldes for compensaLlon Lo cusLomers who experlence lnconvenlencesŦ 1he Companv currenLlv
parLlclpaLe ln Lhree ma[or CuSs (Sabreţ 1ravelporL and Amadeus) and four ma[or onllne Lravel
aaenLsţ or C1As (Lxpedlaţ 1raveloclLvţ CrblLzţ and Þrlcellne)Ŧ lL also sells vacaLlon packaaes Lhrouah
!eL8lue CeLawavsţ a oneŴsLopţ valueŴprlced vacaLlon webslLe deslaned Lo meeL cusLomersƌ demand
for selfŴdlrecLed packaaed Lravel plannlnaŦ lLs compeLlLors and poLenLlal compeLlLors lnclude
LradlLlonal neLwork alrllnesţ lowŴcosL alrllnesţ and realonal alrllnesŦ 1he Companv ls sub[ecL Lo
dlfferenL federalţ sLaLe and local laws relaLlna Lo Lhe proLecLlon of Lhe envlronmenLţ lncludlna Lhe
dlscharae or dlsposal of maLerlals and chemlcals and Lhe reaulaLlon of alrcrafL nolse admlnlsLered bv
numerous sLaLe and federal aaenclesŦ (8uslness Ǝ Companv 8esource CenLerţ 2011)

INDU51k¥ CVLkVILW

1he companv ls a ma[or plaver ln Lhe scheduled alr passenaer LransporLaLlon subŴlndusLrvŦ 1he
currenL sLaLlsLlcs and prevlslons are poslLlveŦ 1rafflc sLaLlsLlcs show lmprovlna demand and revenues
ln 2010ţ Lhouah wlLh some seasonal sofLness ln Lhe wlnLer Lravel seasonŦ 1he uŦSŦ alrllne lndusLrv ls
ln Lhe mldsL of fundamenLal lndusLrv demand lmprovemenLŦ ln addlLlonţ slnce Lhe lndusLrv has
reduced capaclLv levelsţ lL should be able Lo ralse fares as passenaer Lravel demand conLlnues Lo
lmproveŦ 1here have been several rounds of fare lncreases ln !anuarv and lebruarv of 2011Ŧ Cll and
[eL fuel prlcesţ Lhouah up sharplv from 32Ŵweek lowsţ are lower Lhan record levels ln 2008Ŧ lL ls
belleved LhaL lnvesLor senLlmenL on alrllne sLocks could lmprove on slans LhaL Lhe uŦSŦ economv ls
lmprovlnaŦ Cn CcLober 1ţ 2010ţ uAL Corp and ConLlnenLal Alrllnes compleLed a meraer Lherefore
creaLed Lhe laraesL alrllne ln Lhe worldţ ellmlnaLlna one ma[or compeLlLor andţ spurrlna addlLlonal
capaclLv cuLs and evenLuallv lead Lo hlaher alrfaresŦ Slmllarlvţ anoLher lmporLanL move ln Lhe
lndusLrv ls Lhe acqulslLlon of Alr1ran Poldlnas bv SouLhwesL AlrllnesŦ lL ls esLlmaLed LhaL Lhe Lop 10
uŦSŦ carrlers losL abouL $3 bllllon ln 2009ţ afLer a $4 bllllon loss ln 2008ţ as Lhe beneflL of lower [eL
fuel cosLs was eroded bv lower alrfares and falllna passenaer levelsŦ
O 8esulLs ln 2008 were lmpacLed bv record hlah oll prlcesŦ Alrllnes have cuL fares ln response
Lo weakenlna demandţ buL recenL cuLs Lo domesLlc and lnLernaLlonal supplv could help
resLore some prlclna powerŦ
O ln 2010ţ Lhe lndusLrv earned a neL proflL of abouL $3Ŧ7 bllllonŦ 1oLal revenue passenaer mlles
(8ÞMs) fell 3Ŧ8Ʒ ln 2009 afLer rlslna 1Ŧ6Ʒ ln 2008Ŧ uesplLe Lhe 2009 decllneţ Lhev are sLlll
above Lhe 8ÞM levels aLLalned ln 2000ţ Lhe lasL vear of relaLlve alrllne lndusLrv healLhţ
alLhouah vlelds have decllned sharplv slnceŦ
O lelds decllned 13Ŧ1Ʒ ln 2009 afLer rlslna 3Ŧ6Ʒ ln 2008Ŧ Avallable seaL mlles fell 6Ŧ1Ʒ ln 2009
afLer rlslna 2Ŧ2Ʒ ln 2008Ŧ
O Þassenaer load facLor lmproved bv 0Ŧ3 percenLaae polnLs ln 2009 Lo 81Ŧ0Ʒ from 80Ŧ7Ʒ ln
2008Ŧ
O ear Lo daLe Lhrouah !anuarv 31ţ Lhe SƎÞ Alrllnes lndex decllned 6Ŧ0Ʒ versus a 2Ŧ2Ʒ lncrease
for Lhe SƎÞ 1300Ŧ
O ln 2010ţ Lhe SƎÞ Alrllnes lndex aalned 18Ŧ3Ʒ versus a 14Ŧ2Ʒ lncrease for Lhe SƎÞ 1300Ŧ ln
2009ţ Lhe SƎÞ Alrllnes lndex aalned 18Ŧ0Ʒţ versus a 24Ŧ3Ʒ rlse for Lhe SƎÞ 1300Ŧ (Corrldoreţ
2011)
lrom an lnLernaLlonal perspecLlveţ lL ls lmporLanL for Lhls paper Lo focus Lhls analvze on Aslan
markeLsţ especlallv ChlnaŦ 1he overvlew of Lhe Chlnese lndusLrv ls showlna a conslderable
arowLhŦ
O Chlnaƌs avlaLlon lndusLrv reporLed a bumper proflL of Cn3400 mllllon (uSu316 mllllon) ln
!anŴ2011 Ŵ a record !anuarv performanceŦ 1he CAAC credlLed Lhe Lurnaround Lo sLrona
demand sLlmulaLed bv rapld domesLlc economlc arowLhŦ (CenLer for Asla Þaclflc ţ 2011)
O Chlnese low cosL companvť Sprlna Alrllnes ls aL currenL Lhe onlv low cosL alrllne ln Lhe Þ8CŦ
O Chlnese carrlers expecL slanlflcanL rlse ln 1C2011 resulLsţ 22Ŧ7 mllllon passenaers ln !anŴ2011
O Chlnaƌs Sprlna lesLlval Lourlsm revenue [umps 27ƷŦ Þassenaer Lrafflc up 6Ʒ
O lull vear pax arowLh of 13ƷŤ carao arowLh of 11Ŧ3Ʒ anLlclpaLed
O Chlna Lo be laraesL conLrlbuLor of new passenaers ln 2009Ŵ2014 perlodť lA1A reporLs







IINANCIAL5

Þer|od Lnd 12/31/2010 12/31/2009 12/31/2008 12/31/2007
1ota| kevenue $3ţ779ţ000 $3ţ292ţ000 $3ţ388ţ000 $2ţ842ţ000Ŧ00
CosL of 8evenue $1ţ641ţ000 $1ţ433ţ000 $2ţ301ţ000 $1ţ987ţ000Ŧ00
Cross ÞroflL $2ţ138ţ000 $1ţ839ţ000 $887ţ000 $833ţ000
Cperat|ng Lxpenses ť
Salesţ Ceneral and
AdmlnŦ
$1ţ383ţ000 $1ţ346ţ000 $373ţ000 $310ţ000
CLher CperaLlna lLems $220ţ000 $228ţ000 $203ţ000 $176ţ000
CperaLlna lncome $333ţ000 $283ţ000 $109ţ000 $169ţ000
Addƌ| |ncome/expense
|tems
$4ţ000 $10ţ000 ($1ţ000) $34ţ000
Larnlnas 8efore lnLeresL
and 1ax
$337ţ000 $293ţ000 $108ţ000 $223ţ000
Interest Lxpense $176ţ000 $191ţ000 $184ţ000 $182ţ000
Larnlnas 8efore 1ax $161ţ000 $104ţ000 ($76ţ000) $41ţ000
lncome 1ax $64ţ000 $43ţ000 $0 $23ţ000
neL lncomeŴConLŦ
CperaLlons
$97ţ000 $61ţ000 ($76ţ000) $18ţ000
Net Income $97ţ000 $61ţ000 ($76ţ000) $18ţ000


1he companv's flnanclal daLa shows a aood overcomlna of Lhe economlc recesslonŦ AfLer a
subsLanLlal downward ln 2008ţ when lL experlenced neaaLlve proflLsţ Lhe lmaae has lmproved
conslderablvţ wlLh a arowLh of 39Ŧ02Ʒ from 2009 Lo 2010Ŧ 1he oll prlces are affecLlna Lhe CosL of
8evenueţ lncreased bv 14Ŧ32Ʒ ln Lhe recenL perlodţ buL Lhe compensaLorv lncrease ln Lhe demand
and revenues from operaLlons lead Lo an overall poslLlve effecLŦ
Company Areas of
opertat|on
Market
share
kevenues 1arget
market
Compet|t|ve
advantage
Market
va|ue of
||sted
5ecur|t|es
1ype of p|anes A|||ances
5outhwest Domestic Routes 14Ŧ00Ʒ $10ţ330 M low cosLţ
averaae
cusLomer
laraesL alrllne ln Lhe
unlLed SLaLesţ fleeL of
8oelna 737
$8Ŧ738 8oelna 737Ŵ300ţ
8oelna 737Ŵ300ţ
8oelna 737Ŵ700ţ
8oelna 737Ŵ900
volarlsţ lcelandalrţ
A1A Alrllnesţ WesL!eL
Alrllnes
et8|ue Domestic,
Caribbean, and
South America
Routes
4Ŧ40Ʒ $3ţ286Ŧ00 M low cosL
and
averaae
cosL
cusLomer
s
low cosLţcusLomer
servlce and en[ovable
lnŴfllahL experlenceţ
unlque posLlonť low
cosL + ma[or carrlers
LreaL
$1Ŧ648 Alrbus A320Ŵ
200ţ Lmbraer
190
wlLh LufLhansaţ
Amerlcan Alrllnesţ
SouLh Afrlcanţ Aer
Llnaus
5p|r|t
A|r||nes
Domestic,
Caribbean, Central
and South America
Routes
Ƽ2Ŧ0Ʒ
$ 700.00 M
verv low
cosLţ low
Lo
medlum
lncome
llrsL ulLraŴlowŴcosL
Amerlcan carrler
n/aŴ prlvaLe Alrbus A319Ŵ
100ţ Alrbus A320Ŵ
200ţ Alrbus A321Ŵ
200
n/a
8v analvzlna Lhe SLock Þrlce CharLţ (llaure 2) we can conclude LhaL Lhe lndusLrv ls sLlll sufferlnaţ as
Lhe !8Lu prlce ls falllna subsLanLlallv below Lhe markeL lndex (SƎÞ 300) sLaLlna uec 2010 and
conLlnulna Lo follow a downslope unLll presenLŦ 1he explanaLlon for Lhe currenL lmaae can be found
ln Lhe announcemenL of lncreaslna oll prlces LhaL affecLed Lhe prlce of sLocks for slmllar companles
llke uelLa 0Ŧ63 (5Ŧ60Ʒ) and Amerlcan Alrllnes 0Ŧ18 (2Ŧ67Ʒ)Ŧ

CCMÞL1I1Ck5 MA1kIk
Ma|n compet|tors areť
O Alr1ran Alrwavs uomesLlc 8ouLesţ Carlbbean 8ouLes and Mexlco 8ouLes
O AllealanL Alr uomesLlc 8ouLes and lnLernaLlonal CharLer
O !eL8lue Alrwavs uomesLlcţ Carlbbeanţ and SouLh Amerlca 8ouLes
O SouLhwesL Alrllnes uomesLlc 8ouLes
O SplrlL Alrllnes uomesLlcţ Carlbbeanţ CenLral and SouLh Amerlca 8ouLes
O Sun CounLrv Alrllnes uomesLlcţ Mexlcoţ and Carlbbean 8ouLes
O uSA3000 Alrllnes uomesLlcţ Mexlcoţ and Carlbbean 8ouLes
O vlraln Amerlca uomesLlc 8ouLes and Mexlco

SouLhwesL

As Lhe laraesL companv on Lhe uS markeLţ SouLhwesL has Lo be consldered a ma[or LreaL for !eL8lueŦ
Cne of Lhe mosL noLlceable areas of LhreaL ls SouLhwesL's recenL alllanceŦ lnsLead of openlna new
fllahLs Lo desLlnaLlons ouLslde Lhe unlLed SLaLesţ Lhev are exLendlna bv acqulrlna anoLher low cosL
provlderť Alr1ran AlrwavsŦ 1he sLraLeav ls a LhreaL for Lhe proposlLlon of lnLernaLlonal expendlLure
for !eL8lueŦ

!eL8lue
CompeLlLlve advanceť llve lnŴfllahL Lelevlslonţ free and unllmlLed snack offerlnasţ comforLable
learoomţ and unlque promoLlons fosLered an lmaae of lmpeccable cusLomer servlce LhaL rlvaled Lhe
ma[or alrllnes whlle compeLlLlve low fares made Lhem a LhreaL Lo lowŴcosL noŴfrllls carrlers as wellŦ
SplrlL Alrllnes
Cn AuausL 12ţ Lhe alrllne offered Lhe ƍuonƌL 8e 8lueţ Sllde uown 1o Low lares wlLh uouble llsLed
SavlnasƍŦ 1he ad was ln reference Lo a !eL8lue fllahL where a fllahL aLLendanL deploved an emeraencv
sllde and lefL Lhe alrcrafL wlLh Lwo boLLles of beerŦ lmaaerv for Lhe ad feaLured an opened alrcrafL
door and a fllahL aLLendanL aolna down an emeraencv sllde wlLh Lwo beer boLLlesŦ 1hls shows LhaL an
aaaresslve compeLlLlve sLraLeav dlrecLed Lo !eL 8lueŦ 1he companv musL be Laken lnLo conslderaLlon
as one of Lhe laraesL and mosL dlrecL compeLlLorsŦ

1kLND5ť
1Ŧ1echnoloav
O ln splLe of Lhe economlc unsLable envlronmenL and Lhe flnanclal crlslsţ Lechnoloav
has survlved and ls sLlll arowlna aL record raLesŦ 1he appllcaLlon era ls here as
Lechnoloav ls becomlna more accesslbleŦ
O 1ech declslon makers alve userŴaeneraLed slLes equal lmporLance Lo LradlLlonal
medla sources when conslderlna Lechnoloav purchasesŦ ueclslon makers conslder
Lhelr personal experlence (38Ʒ) flrsL when shorLŴllsLlna Lech vendorsţ followed bv
wordŴofŴmouLh and lndusLrv analvsL reporLsţ Lled aL 31ƷŦ AdverLlslna (17Ʒ) and
dlrecL markeLlna (21Ʒ) were llsLed as Lhe leasL lmporLanL lnformaLlon sources when
shorLŴllsLlna posslble vendorsŦ (SLudvť ƍ1ech ueclslon Makerţƍ Plll Ǝ knowlLonţ
!anuarv 2009)

uemoaraphlcs
1ŦAalna populaLlon (8abv boomers)
O Numbering 79 million, baby boomers comprise one-quarter of the U.S. population.
O The aging of this particular sector of the population, as much as it is threatening, it also
creates great opportunity for developing new business plans, ventures and extending into the
market for elderly population: technology adapted to weaker vision, walking accessories,
providing space and facilities for people with disability are just some examples of things that
should be taken into consideration by companies in all market sectors.
O ln Lhe uŦSŦ and new Zealandţ markeL experLs sav LhaL members of Lhls aeneraLlon are
holdlna onLo Lhelr LasLe for luxurv and sLvle as Lhev reach Lhelr laLer vearsŦ Poweverţ manv
members of Lhls aroup wlll be supporLed bv caplLal aalnsţ publlclv funded svsLems or
vounaer relaLlvesţ whlch could lnsplre Lhem Lo choose beLween a llneup of luxurv producLs
raLher Lhan lmpulslvelv buvlna all of LhemŦ
2ŦMlnorlLv lmpacLs ln unlLed SLaLes
O Cne slanlflcanL mlnorlLv ln Lhe unlLed SLaLes ls represenLed bv Lhe Aslan and AslanŴAmerlcan
populaLlonŦ 1hls seamenL ls also lncreaslna as access Lo Amerlcan educaLlon ls faclllLaLed bv
new rules and pollcles LhaL supporL lnLernaLlonallzaLlonŦ Alsoţ Lhe lmpacL of arowLh ln Lhe
Chlnese economv lnduces a naLural arowLh ln revenues and llfe sLandards LhaL Lhen leans Lo
populaLlon wllllna Lo aeL a forelan educaLlonŦ 1hereforeţ Lradlna aareemenLs and
relaLlonshlps wlLh Chlna are sLlll consldered a areaL opporLunlLvŦ

4Ŧ Cll reserves are reduclna frlahLenlnalv
O 1he decrease ln naLural resources has been predlcLed and dlscussed over Lhe pasL decades
and ls conLlnulna Lo represenL a verv lmporLanL lssueŦ
O %he North Sea will no doubt continue to decline in its oil production. %he US with its
long-term decline also Iaces challenges. Unless a high level oI deep water production
is maintained, it is likely that US oil production will again begin to decline.
O %he FSU and the Rest oI the World have at least the possibility oI increased
production, but these increases are likely to be relatively small, based on past patterns.
O n total, world oil production is unlikely to rise by much, and may Iall in ways that are
hard to predict in advance.


MCDLL5
1Ŧ Þorterƌs 5 Iorces Ana|ys|s
1Ŧ 1hreat of New LntrantsŦ AL flrsL alanceţ Lhe alrllne lndusLrv ls preLLv Louah Lo break lnLoţ buL
LhaL can prove wronaŦ Cne needs Lo look aL wheLher Lhere are subsLanLlal cosLs Lo access
bank loans and credlLŦ lf borrowlna ls cheapţ Lhen Lhe llkellhood of more alrllners enLerlna
Lhe lndusLrv ls hlaherŦ 1he more new alrllnes LhaL enLer Lhe markeLţ Lhe more saLuraLed lL
becomes for evervoneŦ 8rand name recoanlLlon and frequenL fllers polnL also plav a role ln
Lhe alrllne lndusLrvŦ An alrllne wlLh a sLrona brand name and lncenLlves can ofLen lure a
cusLomer even lf lLs prlces are hlaherŦ
Conc|us|onť sLrona LreaL of new enLranLs
2Ŧ Þower of 5upp||ersŦ 1he alrllne supplv buslness ls malnlv domlnaLed bv 8oelna and AlrbusŦ
lor Lhls reasonţ Lhere lsnƌL a loL of cuLLhroaL compeLlLlon amona suppllersŦ Alsoţ Lhe
llkellhood of a suppller lnLearaLlna verLlcallv lsnƌL verv llkelvŦ ln oLher wordsţ vou probablv
wonƌL see suppllers sLarLlna Lo offer fllahL servlce on Lop of bulldlna alrllnesŦ
Conc|us|onť sLrona power of suppllers
3Ŧ Þower of 8uyersŦ 1he baraalnlna power of buvers ln Lhe alrllne lndusLrv ls qulLe lowŦ
Cbvlouslvţ Lhere are hlah cosLs lnvolved wlLh swlLchlna alrplanesţ buL also Lake a look aL Lhe
ablllLv Lo compeLe on servlceŦ ls Lhe seaL ln one alrllne more comforLable Lhan anoLher?
Þrobablv noL unless vou are analvzlna a luxurv llner llke Lhe Concord !eLŦ
Conc|us|onť weak power of buvers
4Ŧ Ava||ab|||ty of 5ubst|tutesŦ WhaL ls Lhe llkellhood LhaL someone wlll drlve or Lake a Lraln
Lo hls or her desLlnaLlon? lor realonal alrllnesţ Lhe LhreaL mlahL be a llLLle hlaher Lhan
lnLernaLlonal carrlersŦ Conslderlna Llmeţ Lhe alr LransporLaLlon cannoL has a sLrona
compeLlLlve advanLaae on all oLher means of LransporLaLlonŦ Monevţ personal preference
and convenlence are also decldlna facLors ln Lhe alr Lravel lndusLrvţ buL presenLlv lL ls Lhe
besL mean of LransporLaLlon for lona dlsLancesŦ
Conc|us|onť weak LreaL of subsLlLuLe producLs
3Ŧ Compet|t|ve k|va|ryŦ Plahlv compeLlLlve lndusLrles aenerallv earn low reLurns because Lhe
cosL of compeLlLlon ls hlahŦ 1hls can spell dlsasLer when Llmes aeL Louah ln Lhe economvŦ lor
Lhls reasonţ and as seen ln Lhe compeLlLor maLrlx analvzeţ Lhe alrllne lndusLrv ls one wlLh a
hlah rlvalrv amona exlsLlna companlesŦ
Conc|us|onť sLrona compeLlLlve rlvalrv

2Ŧ Lntry Mode| for Internat|ona| Lxpans|on


unLll nowţ Lhe svsLem of g|oba| a|||ances resulLlna from Lhe llberallzaLlon and dereaulaLlon pollcles
of counLrles and realons has been Lhe maln drlvlna force ln Lhe expanslon of Lhe lnLernaLlonal
alrllnesŦ CooperaLlon beLween alrllnesţ when resources are Lransferred beLween companles Lhrouah
conLracLsţ ls laraelv based on Lhese alllances ln Lerms of markeLlna and code sharlna aareemenLsŦ ln
addlLlon Lo anv pure markeL advanLaaes of alllancesţ such as reduclna cosLsţ mlnlmlzlna caplLal
requlremenLsţ and lmprovlna Lhe brand lmaae (Cudmundsson and 8hoadesţ 2001)ţ one of Lhe maln
reason for Lhls has been Lhe need Lo clrcumvenL lnsLlLuLlonal barrlers Lo enLrv lnherenL ln Lhe
bllaLeral alr servlce aareemenL realmes LhaL have prevenLed free expanslon of alr servlces even ln
slLuaLlons of arowlna demand (uebbaaeţ 1994)Ŧ 1he success of Lhls sLraLeav has led Lo Lhe creaLlon
of Cneworldţ Skv1eam and SLar Alllance LhaL are now responslble for abouL 73Ʒ of alobal
passenaers and 90Ʒ of lonaŴhaul fllahLs (CenLoţ 2008)Ŧ
lL mav Lake Lhe form of Lhe creaLlon of hubs or bases |n fore|gn a|rportsţ [o|nt venturesţ acqu|s|t|ons
of a|r||nes and estab||sh|ng subs|d|ar|es |n fore|gn marketsŦ 1he creaLlon of hubs would enable Lhe
alrllne Lo access new rouLes alLhouah enLrv barrlers ln Lhe form of llmlLed sloLs and resLrlcLlve
bllaLeral alr servlce aareemenLsţ make lL dlfflculL for alrllnes Lo aaln a fooLhold ln manv lnLernaLlonal
alrporLs (8orensLelnţ 1989)Ŧ LowŴcosL carrlersţ howeverţ have hlsLorlcallv ofLen enLered relaLlvelv
unLapped markeLs lnvolvlna less conaesLed alrporLs where Lhev have esLabllshed Lhelr radlal basesŦ
ln llahL of Lhe lncreased llberallsaLlon of avlaLlon markeLsţ acqu|s|t|on or mergers beLween alrllnes ls
ofLen seen as Lhe mosL effecLlve sLraLeav for boLh LradlLlonal and lowŴcosL carrlersŦ Þart|c|pat|on |n
other compan|es ls Laklna several formsţ from |ntegrat|on Lhrouah Lhe acqulslLlon of 100Ʒ of a
companv's equlLvţ Lo space a||ocat|on agreements for Lhe purchase of a parL of Lhe companvŦ 1he
number of alrllnes ln boLh Lhe LradlLlonal and low cosL seamenLs wlll dlmlnlsh as a resulL of Lhese
acLlons Lo auaranLee Lhe survlval of companles ln Lhe hlahlv compeLlLlve markeLs place (8orensLelnţ
1989)Ŧ
Vert|ca| |nternat|ona||zat|on lsţ Lhouahţ a less approprlaLe opLlon wlLh lnLermedlarles ln auxlllarv
servlces belna replaced bv lndependenL companlesŦ Lven Lhe alobal dlsLrlbuLlon or reservaLlons
svsLems (CuS) LhaL were LradlLlonallv manaaed bv Lhe alrllnes have now become lndependenL
enLlLlesŦ

3Ŧ 5WC1 Ana|yze
5trengths
1Ŧ !eL8lue Alrwavs has dlfferenLlaLed lLself bv provldlna varlous faclllLles Lo Lhe cusLomers such
as lnŴfllahL enLerLalnmenLţ SaLelllLe radlo and 1v on everv seaL eLcŦ
2Ŧ !eL8lue was one of onlv few uŦSŦ alrllnes LhaL ended a proflL durlna Lhe prlcklv decllne ln
alrllne Lravel subsequenL Lhe 9/11 aLLacksŦ
3Ŧ !eL8lue has Lurn lnLo one of Lhe mosL admlred alrllne sLocks ln hlsLorv and now has abouL
Lwo bllllon dollars ln markeL caplLallzaLlonŦ
4Ŧ 1he robusL markeLlna campalan developed ln assoclaLlon wlLh !W1 new orkţ alve emphasls
Lo servlceţ compllmenLarvţ and aaaresslve fares onboard servlcesŦ
3Ŧ !eL8lue was llsLed Lhe number one uŦSŦ home alrllne bv famous maaazlne's ƍ8eaders' Cholce
Awardsƍ for Lhe slxLh vear ln a rowŦ
6Ŧ 8anked Lop ln CusLomer SaLlsfacLlon amonasL Low CosL Carrlers ln norLh AmerlcaŦ
Weaknesses
1Ŧ noL Lhe markeL leaderţ belna over crossed ln Lerms of proflLs and markeL slze bv SouLhwesL
AlrllnesŦ
2Ŧ CperaLlonal lssuesţ low faresţ hlah fuel prlcesţ !eL8lue's Lrademarkţ conLrlbuLed ln brlnalna
economlc performance of !eL8lue downŦ
3Ŧ !eL8lue's hlaher cosLs llnked Lo Lhe alrllne's several faclllLles were maklna Lhe companv less
compeLlLlveŦ
4Ŧ AlLhouah !eL8lue conLlnued Lo add rouLes and planes Lo Lhe convov aL a fasL pace buL lL
wlLnessed unsusLalnable arowLh raLeŦ
3Ŧ 1he companv has less lnLernaLlonal desLlnaLlons because lL onlv covers 11 counLrlesŦ 1he
companv does noL have presence ln Asla and oLher unsaLuraLed areasŦ
Cpportun|t|es
1Ŧ Culcklv lncreaslna alr servlce wlLhln Chlna and oLher rlslna economles alona wlLh Lhe
lncrease of lowŴcosL carrler (LCC) buslness models all over Lhe world drlve Lhls markeL
seamenLŦ
2Ŧ AfLer Lhe economlc crlses ln 2009ţ revlval has pursued rapldlv as Lhe lndusLrv conslsLenLlv
revlslLed Lo lLs lonaŴLerm lncrease raLe of approxlmaLelv 3 percenL per vearŦ
3Ŧ lnLroducLlon of new planes has creaLed Lhe opporLunlLv for addlLlonal rouLeŦ
4Ŧ lncrease lnLernaLlonal Lourlsm and lnvesLmenL ls consequenLlv vlLal Lo Lhe aloballzaLlon
Laklna place ln numerous oLher lndusLrlesŦ
3Ŧ 1raveler Lrafflc ls predlcLable Lo rlse bv slx percenL for Lhls vearţ wlLh relaLed annual arowLh
raLes for 2011 LhrouahouL 2014Ŧ
6Ŧ 1ourlsm ls lncreaslna all over Lhe world and lL has also lncreased lonaer duraLlon of fllahLsŦ
7Ŧ 1he lncreased capablllLles of Lhe mosL recenL lonaŴranaeţ LwlnŴalsle alrplanes aeneraLe
opporLunlLles for plavers Lo Lake advanLaae of Lhe conLlnulna llberallzaLlon of alr convev
markeLs Lo unlock new nonsLop rouLesŦ
8Ŧ Aalna of a larae seamenL of populaLlonť babv boomersţ whlch wlll resulL ln an lncreased
demand for desLlnaLlons preferred bv Lhe elderlvŦ
1hreats
1Ŧ uemand for alr Lravel flucLuaLes aenerallv for Lhe servlces Lo be provldedŦ
2Ŧ luel prlces are lncreaslna as economlc condlLlons aeLs beLLerŦ
3Ŧ 1he ma[orlLv of Lhe ma[or alrllnes have underaone cosL reformaLlonŦ
4Ŧ SLrona compeLlLorsţ ln Lerms of llmlLaLlon capaclLvţ prlclnaţ consolldaLlon schedullnaţ and
alllance acLlvlLlesŦ
3Ŧ CovernmenLal reaulaLlons ln Lhe lndusLrvť Chlnese pollLlcal svsLemŦ
6Ŧ uue Lo Lhe Lerrorlsm number of cusLomers ls decreaslna Lo flv for SouLh Aslaţ lraqţ lranţ
Afrlca
ÞkCÞC5AL5 (2)
1he purpose of Lhls paper ls Lo propose Lo !eL8lue CorporaLlon a new buslness model and Lhe
exLenslon lnLo a new markeL secLor ln Lhe lnLernaLlonal perspecLlveŦ
1Ŧ 1he flrsL proposal ls Lo adapL Lo Lhe aalna populaLlon bv offerlna speclal dlscounLs and
producLs for senlorsŦ Þrovldlna dlscounLs ls Lhe besL wav of aLLracLlna Lhe LaraeLed
cusLomersţ buL Lhe sLraLeav musL also lnclude an adapLaLlon ln Lerms of desLlnaLlons LhaL
Lhls arowlna seamenL wlll prefer as much as ln fllahL faclllLles Lallored Lo sulL Lhelr needsŦ
1hls proposal corresponds wlLh Lhe demoaraphlcal Lrend of Lhe aalna populaLlonţ whlch wlll
have a sLrona lmpacL on alrllne companles as for all mosL of Lhe lndusLrlesŦ
1he proposed model lncludes 3 sLepsť 1Ŧ provldlna dlscounLs and advanLaaes on Lhe mlles
proaram for Lhe seamenL of aae ƽ63ţ ln Lhls wav aLLracLlna bv Lhe means of low prlces a
seamenL LhaL ls known Lo be parLlcularlv prlce senslLlveŦ 2Ŧ AnLlclpaLlna Lhe demand for
desLlnaLlons preferred bv Lhls secLor and lncreaslna Lhe supplv for Lhose desLlnaLlonsť for
example Lhe SouLh of Lurope (research should be furLher conducLed as markeL daLa ls noL
veL avallable) 3Ŧ 1aklna advanLaae of Lhe brand repuLaLlon creaLed bv !eL8lue and lLs
afflllaLlon for comforL on Lhe planeţ blaaesL space for leasţ Lhe lasL sLep would be adapLlna
Lhe planes for Lhe speclal needs of persons wlLh dlsablllLlesŦ Conslderlna Lhe flnanclal
lnsLablllLv of Lhe economv and Lhe flnanclal hlsLorlcal daLa LhaL show a bla flucLuaLlon ln
revenuesţ a larae lnvesLmenL would noL be recommended aL Lhls parLlcular momenLŦ
1herefore Lhls buslness plan does noL lnvolve an lmporLanL lnvesLmenL and Lhe rlsk
assoclaLed wlLh lLs fallure ls llmlLedŦ 1he SWC1 analvsls shows aood expendlLure
opporLunlLlesŦ 1he nexL sLep should be a leaslblllLv SLudv and llnanclal ÞredlcLlons for Lhe
lnvesLmenLs cosLs and expecLed revenuesŦ

2Ŧ A parLnershlp wlLh a low cosL alrllne companv ln Aslaţ whlch operaLes local fllahLs ln
ChlnaŦ 1he onlv low cosL companv operaLlna aL Lhe momenL ln Lhe Chlnese alr ls Sprlna
Alrllnesţ a Shanahal based corporaLlon founded ln 2004Ŧ
1he demand for alr LransporLaLlon wlll lncrease sporadlcallv ln Lhese realons as anoLher
arowlna seamenL consLlLuLes Lhe AslanŴAmerlcan populaLlonŤ Aslan chlldren LhaL come Lo
Amerlca Lo aeL educaLed and launch Lhelr careers and sLlll have famllles ln Asla consLlLuLes
11Ŧ3Ʒ of Lhe mlnorlLv populaLlonŦ
1he resLrlcLlna pollLlcal svsLem ln Lhe Þubllc 8epubllc of Chlna reaulaLes drasLlcallv Lhe
aareemenLs and lnLernaLlonal provlders of lnfrasLrucLure ln Lhe Chlnese markeLŦ 1hls
excludes Lhe posslblllLv of enLerlna lnLo Lhe markeL bv acqulrlna Sprlna Alrllnes or provldlna
fllahLs dlrecLlv operaLed bv !eL 8lueŦ 1hereforeţ Lhe onlv lnLernaLlonal vlable exLenslon
conslsLs ln a SLraLealc Alllance wlLh Sprlna AlrllnesŦ 1hls wlll aLLracL Lhe above menLloned
seamenL of cusLomers and respecL Lhe reaulaLlons of Lhe Chlnese CovernmenLŦ Þassenaers
wlll be offered Lhe posslblllLv Lo purchase LlckeLs Lhrouah Lhe !eL 8lue webslLe and allow
Lhem Lo proflL from Lhe low prlces and all faclllLles offered bv Lhe mlles proaramŦ AfLer
conducLlna an LnLrv Model for lnLernaLlonal LxLenslonţ Lhe Clobal Alllance was also shown
Lo be Lhe mosL effecLlve soluLlonŦ


Cvervlew of Chlnese alr LransporLaLlon markeLť
O Chlnese carrlers expecL slanlflcanL rlse ln 1C2011 resulLs
O 22Ŧ7 mllllon passenaers ln !anŴ2011
O Chlnaƌs Sprlna lesLlval Lourlsm revenue [umps 27ƷŦ Þassenaer Lrafflc up 6Ʒ
O lull vear pax arowLh of 13ƷŤ carao arowLh of 11Ŧ3Ʒ anLlclpaLed
O Chlna Lo be laraesL conLrlbuLor of new passenaers ln 2009Ŵ2014 perlodť lA1A reporLs

8|b||ography
1Ŧ !eL8lue 8eLrleved from wwwŦ[eLblueŦcom
2Ŧ 8uslness Ǝ Companv 8esource CenLerŦ (2011)Ŧ Iet8loe Altwovs cotpŦ (I8lu)Ŧ 8eLrleved from
8uslness Ǝ Companv 8esource CenLerť
hLLpť//aaleneLŦaalearoupŦcom/servleL/8C8C?rslcƹÞkƎrcpƹCCƎvrsnƹunknownƎlocluƹmlaml
_rlchLerƎsrchLpƹcmpƎccƹ1Ǝcƹ1ƎmodeƹcƎsLeƹ60ƎLabƹ1ƎLbsLƹLsCMƎccmpƹ!eL8lue+Alrwa
vs+CorpŦƎLcpƹ[bluƎdocnumƹuC962767ƎbConLsƹ1
3Ŧ CenLer for Asla Þaclflc Ŧ (2011ţ lebruarv 8)Ŧ cbloo ptootess oo low oltltoJe oltspoce tetblokŦ
8eLrleved from CenLer for Asla Þaclflcť
hLLpť//wwwŦcenLreforavlaLlonŦcom/news/2011/02/08/chlnaŴproaressŴonŴlowŴalLlLudeŴ
alrspaceŴreLhlnk/paae1
4Ŧ Corrldoreţ !Ŧ (2011ţ leb)Ŧ obŴloJosttv kevlew ť AltlloesŦ 8eLrleved from SLandard Ǝ Þoor
neLAdvanLaaeť
hLLpť//lllprxvŦllbrarvŦmlamlŦeduť3118/nASApp/neLAdvanLaae/loadSublndusLrv8evlewŦdo
3Ŧ llnanceţ Ŧ (nŦdŦ)Ŧ 8eLrleved from hLLpť//flnanceŦvahooŦcom/q?sƹAM8Ǝqlƹ0
6Ŧ CaleŦ (2011)Ŧ ƍAlr 1ransporLaLlonţ ScheduledŦƍ Ŧ ocvclopeJlo of Ametlcoo loJosttles Oolloe
Jltlooţ (SlCsť 4312)Ŧ
7Ŧ SouLhwesLŦ 8eLrleved from wwwŦsouLhwesLŦcom

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