elasticity of the airline industry

Introduction Peter Drucker wrote in 1973 that "mission and philosophy is an important starting point for business" and argued that lack of thought and attention is the reason for many recessions and failures in business. Pearce (1982), David (1989), Campbell and Tawadey (1990), others developed a knowledge system on mission description as a strategic tool necessary for superior management practices. Ashridge Model: Maintaining a company's focus on mission statement is a powerful tool that can greatly influence the behavior of the organization. Campbell and Tawadi (1990) introduced the mission statement into the context of the mission model.

Demand is usually assessed based on airline passenger revenue mile PRM or income tonnage (RTM). In order to study the concept of resilience in the aviation industry, we need to understand the needs of the aviation industry. For example, when traveling to Nigeria, how many customers are willing to pay 250 pounds for a trip? 500 pounds? Still £ 750? In fact, some passengers believe that if the price is too high you will not fly. They did not agree with the decision to agree to the law of demand. It states that the higher the price, the lower the amount required for the product. If various travelers face these decisions, their response will depend on the purpose and income level of their travel. Various answers from consumers will help in creating demand plans. Demand planning is just a table showing the number of goods and services an individual can purchase and purchase at different prices within a certain time.

In the aviation industry, the price elasticity of demand is divided into two parts. They are considered flexible and not elastic. A good example of flexible demand related to the aviation industry is travel related happiness. Happy travelers are affected by rising prices, rising prices of demand according to demand, rising prices due to lower demand, but are directly attributable to competition in this market (Gerardi & Shapiro, 2007 ). Instead, business travelers apply to the inelastic demand of this market. This suggests an increase or decrease in demand and a price distribution resulting therefrom, which has little influence on the purchasing power of businessmen (Gerardi & Shapiro, 2007). In addition, Voorhees and Coppett (1981) explained that the price declined due to the increase in demand, and vice versa, and happy travelers have elastic needs.