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ConnectingwithOneWorld-AirlinesTeamMembers:HongruWangYunshengYangChengranWangZhuoranZhouShengjieLiMinLiDirectInvestmentandCollaborativeStrategies公司LOGO与名称Q1SignificantMergersintheIndustryDelta+NorthwestAirlines(2008)—SkyteamTheacquisitionprovedtobefruitful,catapultingDeltatothetitleoflargestairlineandgeneratingsignificantcostsavingsforboththeairlines.公司LOGO与名称Q1UnitedAirlines+ContinentalAirlines(May2010)—StarAllianceThismergerusurpsDeltatobecomethenewlargestairline,positioningtheairlinesforglobalanddomesticcompetitionandimprovedserviceandperformance.公司LOGO与名称Q1M&AAdvantage1.Costreductionandrevenueincrease2.Resourcespooling3.Serviceoptimization公司LOGO与名称Q1M&ADisadvantage1.Layoffs2.Reducecompetitionsignificantlyandmarketmonopolies3.Oftenaccompaniedbyconflictrelatedtoseniorityissues,newworkrules,etc.公司LOGO与名称Q1Non-EquityAllianceAdvantage1.Attainingthetechnicalefficienciesoflowerproductioncosts/betterservice2.ReachofSeamlessServiceNetworksandincreaseloadfactors3.Enhancedfrequentflyerprograms4.Shareinformation(Code-sharing)公司LOGO与名称Q1Non-equityallianceDisadvantage1.Toobroadsettingofobjectives/Incongruentobjectives2.Asymmetryofpartners,inthesize3.Asymmetryofbenefitsversusexpectations4.Differingproduct/servicestandards5.LackofExclusivity公司LOGO与名称Q2Someairlineshavesurvivedwithoutextensiveinternationalconnections.Cantheycontinuethisstrategy?•Whenthereissufficienttrafficonthecitypairsthatarouteserves,thereislittleneedtohavefeederorconnectingroutesforanairlinetobeprofitable.•Withouttheneedforhubstomakeconnections,someairlinescanoperateinsmallerbutcloser-to-downtownairports.Theycanavoidthecostsassociatedwiththetransferandthepaymentofovernightexpensestopassengers.公司LOGO与名称Q2Someairlineshavesurvivedwithoutextensiveinternationalconnections.Cantheycontinuethisstrategy?•Theymaybeabletoovercomeanydisadvantagesfromsmall-scaleoperationsbytargetingtheirpromotiontoregionalandnichegroupsandbyrunninglow-costoperationsthatchargelowfares.•Conventionalwisdomwouldsuggesttheycaninfactsurviveintheirpresentoperationalmodeandthatattemptstoexpandandmodifytheiroperationsmightmakethemmorevulnerable.公司LOGO与名称Q3Whyshouldanairlinenotbeabletoestablishserviceanywhereintheworldsimplybydemonstratingthatitcanandwillcomplywiththelocallaborandbusinesslawsofthehostcountry?Consideringeithertheinternationalorsimplythedomesticenvironment•Amajorconsiderationiswhethereconomicinterestsintheairlineindustryarebetterservedthroughregulationviathemarket.Whyregulatedomesticairlineindustries.公司LOGO与名称Q3Proponents•Competitionhasforcedcarrierstobecomeefficientorelsegooutofbusiness,insteadofbeingsubsidizedbyregulatedrouteandfarestructures•Economiesofscaleinhandlingpassengersandcargo.Opponents•Localinterestsareoftenill-servedbyderegulation•Opponentsarguethatlocalinterestsareoftenill-servedbyderegulationsinceairlinesarefreetodiscontinueserviceandtowagepredatorypricewarsthatputcompetitorsoutofbusiness•Thehighbarrierstoentryintheindustryfurtherexacerbatethissituation公司LOGO与名称Q3•Anothermajorconsiderationdealswiththepoliticaldimensionsofthequestion.Becausemostgovernmentsseeairlinesasakeynationalindustry,theyopposegivingforeigncarriersaccesstodomesticroutesongroundsofbothnationalsecurityandconsumerwelfare.1.Countriesbelievetheycansavemoneybymaintainingsmallairforcesandrelyingondomesticairlinesintimesofunusualairtransportneeds.Forexample,U.SgovernmentusedU.ScommercialcarrierstohelpcarrytroopstoandfromIraq.2.Aswell,airlinesareasourceofnationalpride,andaircraftsymbolizeacountry’ssovereigntyandtechnicalcompetence.公司LOGO与名称Q4TheForeignOwnershipRestrictionsonAirlines•TheUnitedStatesandCanadarestrictforeignownershipto25%•TheEUhastakenstepstoliberalizewithinEuropeandsetsa49%limitonnon-Europeanownership.•InAustraliaandNewZealand,foreignersarepermittedtoacquireupto49%oftheequityofaninternationalcarrierandupto100%ofadomesticairline.公司LOGO与名称Q4Reasons1.WeneedUScarriersfornationalsecurity•USbelievetheycansavemoneybymaintainingsmallairforcesandrelyingondomesticairlinesintimesofunusualairtransportneeds.Argument:•ItwouldbecheaperandbetteriftheUSgovernmentsimplytenderedforchartersontheopenmarket公司LOGO与名称Q4Reasons2.ForeignAirlinesDon'tHavetheSameSecurityStandards•UShaveworriedaboutprotectingtheirairspaceforsecurityreasons.Argument:•AUSairlineownedbyforeigninvestorsisoperatedbyUSpermanentresidentsandcitizens,andfollowingallUSstandardsandprocedures,subjecttoallUSregulationsandcontrols.公司LOGO与名称Q4Reasons3.ForeignAirlinesWouldTakeAwayJobsfromAmericans•Thedesiretomaintainexistingjobsthreatenedbyforeigncompetitionisprobablythesinglemostimportantsourceoftoday’sprotectionistpoliciesArgument:•AllUScarriershavetoemployeitherlawfullyadmittedforeignnationalsonspecialworkvisas,orUSpermanentresidents,andindeed,forsomejobs,theycanonlyemployfullUScitizens公司LOGO与名称Q4Reasons4.AForeignAirlinewould'cherrypick'onlytheProfitableRoutes•Theforeignownedairlinewouldonlyflyonthe'easymajorroutesthatanyairlinecanmakeaprofiton‘Argument:•Theownershipofanewstartupairlineagainmakesnosubstantialdifferencetotheexternalmarketpla