Creative Challenge Question: "What do you think will happen in commercial air travel in the next three years (by 2011)? What are the ramifications for other industries such as tourism, etc.?
With petroleum at record highs of near $140/ barrel, the airline industry is among the hardest hit.
- United Airlines just announced that it is laying off 950 pilots.
- Aviation experts predict that air capacity will shrink by 20% beginning this fall.
- Airlines are un-bundling services such as checked luggage and are now charging for them.
- Boeing and Airbus face having up to one-third of their new orders canceled.
It certainly seems like the end of an era. So, how do you think this will all shake out in the next three years?
In your opinion, what things will change dramatically? Who loses, and who benefits?