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The Evolution of the Airline Industry

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Since the enactment of the Airline Deregulation Act in 1978, questions that had been at the heart of the ongoing debate about the industry for eighty years gained a new intensity: Is there enough competition among airlines to ensure that passengers do not pay excessive fares? Can an unregulated airline industry be profitable? Is air travel safe?
While economic regulation provided a certain stability for both passengers and the industry, deregulation changed everything. A new fare structure e...