You try making searches arduously to find the lowest air fare on the air tickets for the segment on which you have to travel. While you make efforts on your own end to find these, there are other stakeholders in the game which are trying even more arduously to make it possible for you to have low cost air travel. Who are these stakeholders and what are their domains of work through which they are trying to provide you the lowest fare air tickets?
Aircraft manufacturers
The aircraft manufacturers constantly work on aircraft research relating to the building materials, fuels, technologies, navigation aids and everything associated with manufacture in order to make aircrafts which are commercially viable to operate and meet the common requirements of global commercial aviation.
Aircraft financiers
The financiers of the aircrafts are the ones who provide finance and leasing options to the carriers who buy these aircrafts from the manufacturers. A single aircraft costs millions of dollars and without the financing option it is not possible for the airlines to buy these. The more is the cost of financing, the expensive will be the operating costs and hence the air tickets.
Aircraft operators
The operators of the aircraft, also called the carriers, also influence the prices of the flight tickets. It is their decisions and their management of the operations which bears the influence on the prices of the tickets. Inefficient operations lead to more losses and wastages which are borne by the costs of the tickets. It shall be mentioned that it is the operations part which can make a difference between the success and the failure of the aviation companies. Right from the ground handling of the customers, luggage and the cargo to the in-flight services, all matter a lot in the ultimate aim of reducing the prices of tickets.
Government
Another important stakeholder is the government whose decisions influence the price of the tickets. You might be interested in knowing how the government affects the flight tickets prices. It is done through taxation, putting restrictions on the import of aviation fuel and even by way of stipulating flights to certain non-profitable sectors for achieving the larger good of the nation. The government influence is generally indirect, as a regulator of aviation, though it can also be a competitor since the government might also own the airline which competes with the private players.
Customers
Customers are also those stakeholders who can influence the pricing decisions of the air tickets. The customers can be loosely defined as the market. A high demand for a particular airline flights by the customers can result in increasing the air fares whereas the low demand can result in lowest air fare of the tickets. The customers have their own preferences and wants which translate to demand. They might not wish to travel on a particular airline while there could be rush of passengers on the other resulting in price differential of the tickets.
Aircraft manufacturers
The aircraft manufacturers constantly work on aircraft research relating to the building materials, fuels, technologies, navigation aids and everything associated with manufacture in order to make aircrafts which are commercially viable to operate and meet the common requirements of global commercial aviation.
Aircraft financiers
The financiers of the aircrafts are the ones who provide finance and leasing options to the carriers who buy these aircrafts from the manufacturers. A single aircraft costs millions of dollars and without the financing option it is not possible for the airlines to buy these. The more is the cost of financing, the expensive will be the operating costs and hence the air tickets.
Aircraft operators
The operators of the aircraft, also called the carriers, also influence the prices of the flight tickets. It is their decisions and their management of the operations which bears the influence on the prices of the tickets. Inefficient operations lead to more losses and wastages which are borne by the costs of the tickets. It shall be mentioned that it is the operations part which can make a difference between the success and the failure of the aviation companies. Right from the ground handling of the customers, luggage and the cargo to the in-flight services, all matter a lot in the ultimate aim of reducing the prices of tickets.
Government
Another important stakeholder is the government whose decisions influence the price of the tickets. You might be interested in knowing how the government affects the flight tickets prices. It is done through taxation, putting restrictions on the import of aviation fuel and even by way of stipulating flights to certain non-profitable sectors for achieving the larger good of the nation. The government influence is generally indirect, as a regulator of aviation, though it can also be a competitor since the government might also own the airline which competes with the private players.
Customers
Customers are also those stakeholders who can influence the pricing decisions of the air tickets. The customers can be loosely defined as the market. A high demand for a particular airline flights by the customers can result in increasing the air fares whereas the low demand can result in lowest air fare of the tickets. The customers have their own preferences and wants which translate to demand. They might not wish to travel on a particular airline while there could be rush of passengers on the other resulting in price differential of the tickets.
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