| Popis: |
Aviation industry was habitually cyclical in nature, particularly for airline business. The collapse of Lehman Brothers in 2008 triggered a global credit shock that struck with surprising force in Asia. Before Lehman’s failure, many looked to the region as a bastion of economic stability. After all, Asia had high growth rates, large trade surpluses, and substantial foreign reserves. Most of Asian carriers were well capitalized and mostly free of union harassment afflicting their Western peers. Yet Asia couldn’t avoid the economic fallout from the troubles of Europe and the US. Asia’s economies remain fundamentally sound which is positive for the development of aviation industry. They had track record proven to emerge from the global downturn more rapidly than economies in other regions will. Nonetheless, the crisis has exposed trajectory of globalization and Asia depends heavily on external consumers. Even worse, after a turbulent and panic hedging end in 2008, Asian carriers heavily engaging exotic derivatives instead relying on plain vanilla swaps and options which put them into a bumpy ride of mark to market loss at the end of 2008. To respond the crisis instead of withdrawing from prudent risk taking mentality, the thesis explores various dimensions to form the building block to strengthen the resilience of future airlines business. We argue that more intelligent airlines would take advantage of developed analytics to optimize profit growth, pursue low cost model and strengthen operational and strategic decision making through IT solution. Adaptability is certainly front and center. The winner would ensure corporate process and structure would be engaged with all the staff broadly and respond and make decisions truly aligning with long term strategic intent. The thesis aims for analyzing the key external drivers of the current crisis and outlining the vision of advanced airline business tactics that potentially lead to a new era of equilibrium |
