This third edition of Straight & Level thoroughly updates the previous edition with extensive comments on recent industry developments & emerging business models The discussion is illustrated by current examples drawn from all sectors of the industry & every region of the world The fundamental structure of earlier editions now widely used as a framework for air transport management courses nonetheless remains unchanged Part 1 of the book provides a strategic context within which to consider the industry's economics Part 2 is built around a simple yet powerful model that relates operating revenue to operating cost; it examines the most important elements in demand & traffic price & yield output & unit cost Part 3 probes more deeply into three critical aspects of capacity management network management; fleet management; & revenue management Part 4 concludes the book by exploring relationships between unit revenue unit cost yield & load factor Straight & Level has been written primarily for masters-level students on aviation management courses The book should also be useful to final year undergraduates wanting to prepare for more advanced study Amongst practitioners it will appeal to established managers moving from functional posts into general management More broadly anyone with knowledge of the airline industry who wants to gain a deeper understanding of its economics at a practical level & an insight into the reasons for its financial volatility should find the book of interest