United States Europe Pacific Asia
Deregulation started in 1978 Deregulation started in 1997 Regulated markets with government ownership
Low population density and dispersed urban centers High population density and concentrated urban centers Dispersion of urban centers but high regional concentrations
Relatively open air spaces and airports Congested air spaces and airports Congested gateway airports underutilized regional airports
Rail minor competitor; Car compete for short distances High speed rail is a direct competitor; Rail is a minor competitor; Car compete for short distances Except for Japan, less competition from other transportation modes
No loyalty to carriers (pricing and frequent flyers) Some lingering loyalty to carriers Strong �imposed� loyalty to carriers
Price transparency Price becoming transparent Price not transparent
Limited income growth and limited leisure Limited income growth and more leisure time Growing income levels
Source: adapted from Randy Baseler (2003) "Market Outlook for Air Travel: A Global Perspective", 2nd Annual MIT Airline Industry - Washington DC Conference.
Characteristics of Major Air Travel Markets