In order to maximize revenue airlines must adjust fares dynamically and in real

In order to maximize revenue airlines must adjust

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In order to maximize revenue, airlines must adjust fares dynamically and in real time (CNN, 2017). This is an intricate and delicate science that could pay off for an airline, if done correctly. Cost effective pricing and maximizing revenue are significant for an airline when trying to achieve a high profit margin. Internationally, airlines operate similarly, with some distinctions depending on the region. The airline industry experienced a major structural revolution around the world as a result of globalization and deregulation (Chen, 2003). There are many international conferences and conventions that contribute to the success of the airline industry, ensuring the abilities and capabilities to operate domestically and internationally exist. Due to globalization and deregulation, the International Air Transportation Competition Act of 1979 was passed to assure equality between United States air carriers and foreign air carriers (Congress, 1980). Promoting global equality has helped promote healthy competition within the airline industry.
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