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Briefly outline some of the main economic characteristics and trends in the low price air travel industry in the UK during the last 5 years.
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IFCELS Intermediate Certificate Course Economics Term 1 Assignment Hongyang Wang ICC NO. 73 Case study: The Economics of the UK 'Low Price Airline Industry' Case Study: The Economics of the UK 'Low Price Airline Industry' 1 Briefly outline some of the main economic characteristics and trends in the low price air travel industry in the UK during the last 5 years. Now UK's airline industry is considered to be one of the strongest one in the world, with universal class airlines, some of the first low- frills carriers and, in London Heathrow, the most important international airport. From humble beginnings the industry now gives the United Kingdom enormous benefits: now more than one hundred million people using UK's airport. British Airport Authority's seven UK airports handled 126.6 million passengers in the full calendar year 2002, up 3.9% on the year 2001, and 2.3% up on 2000(United Kingdom). Also, " a study by Oxford Economic Forecasting in 1999...
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