No frills airline market

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Section 1

Introduction to the low-cost no frills airline industry

Since the unprecedented, tragic events, of September 11th some of its profound consequences are coming to light. As events have unfolded it has been thought inevitable that the airline industry would suffer heavily, stocks have been devalued and ticket prices are at all time lows. News headlines such as 'The unpalatable truth have considered the dire straits of the industry. The flag carriers (national airlines) have certainly been forced to retrench, cutting the number of short haul European hops where costs are too high. Sabena, Belgiums national airline and one of the oldest in the world has gone out of business. Swiss Air has had similar liquidity problems and has had to be bailed out by the Swiss government. Even now they are not running a full service. With many of the G7 economies in recession is this the way of things to come?

Low-cost carriers however, have for the most part averted many problems that could be associated with consumer confidence, and have remained profitable.

Europes low cost start-ups, such as easyJet, Ryanair and Go, are also flying high. On October th, easyJet announced an 8% rise in pre-tax profits in the year to the end of September…After a brief post-September 11th dip the airline, based at Luton, now says that seat sales are back to normal."

The low cost carriers have been so profitable that they have been looking to expand. Over the last year they have snapped up lucrative flight slots from their more expensive rivals on short hauls, as the industry has been progressively liberalised. easyJet and their main rival RyanAir are taking away much of the business from the big airlines in Europe. RyanAir, for example, has a stock market capitalisation bigger than that of British Airways , showing the enthusiasm of investors for the lost-cost airline model.

This report will look sequentially at four important angles of the airline industry, from a marketing perspective, which should allow us some insight into the low-cost airline industry. These comprise the nature and of competition in the market and how competitive advantage is sought; an Industry analysis; a customer analysis; and finally a section detailing how PEST changes might affect the market over the next few years. The PEST analysis will focus heavily on the technological aspects, since these represent some of the most important issues that easyJet can have an immediate impact upon.

Section

The nature and extent of competition in the market and how competitive advantage is sought

On the whole the airline industry is a service industry. Airlines are primarily concerned with customer service, and look to add value to the customers experience at different stages in the value chain. Aerlingus, for example, is a full service airline that charges premium prices for the high levels of service they provide; by comparison easyJet positions itself at the other end of the scale. Herein we are primarily concerned with customer service, and Value added throughout the process. Some may argue that this should not be so in the case of easyJet, since it is a 'no frills low cost airline. However, Stelios the founder of the airline, understands that they have to meet and exceed customer satisfaction or expectations. He is quoted as saying

"If you create the right expectations and you meet and exceed those expectations, then you will have happy customers,"

The implication of this for strategy is that you either, provide a level of service which is insurmountable, or you manage customer expectations downward and then surpass them, thus surprising the customer. easyJet follows the later alternative by providing very cheap flights that are billed as 'no frills , but ensuring that its basic logistics work very well. For instance all of the planes are all brand new and the departure record is second to none

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