Markopoulos, E;
Hesse, FJF;
(2021)
A Business Transformation Model for Legacy Carriers as a Response to the Rise of Low-Cost Carriers.
In:
Advances in Creativity, Innovation, Entrepreneurship and Communication of Design.
(pp. pp. 376-385).
Springer Nature
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Abstract
The aviation travel industry offers today a commodity product that attracts all types of customers. However, many clients are price-sensitive and often look for the cheapest product offering. As legacy airlines’ core strengths do not align well with the new customer preferences, this research work investigates the background of the rise of the low-cost carriers and consequently proposes a wholistic transformational model for legacy airlines. This paper presents a business transformation model with five strategic areas. The first two areas, which are Modernization and Environmental Sustainability, advise legacy carriers to focus on digitizing large parts of their business and establish operations within a sustainable business model. The next two areas are the adaptation of products offered with stronger people-centric marketing and communication strategies. The final area is the optimization of portfolio management, where legacy carriers are urged to rethink their investment strategy and possibly divest from low-cost carrier subsidiaries.
| Type: | Proceedings paper |
|---|---|
| Title: | A Business Transformation Model for Legacy Carriers as a Response to the Rise of Low-Cost Carriers |
| Event: | International Conference on Applied Human Factors and Ergonomics |
| ISBN-13: | 9783030800932 |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1007/978-3-030-80094-9_45 |
| Publisher version: | https://doi.org/10.1007/978-3-030-80094-9_45 |
| Language: | English |
| Additional information: | This version is the author accepted manuscript. For information on re-use, please refer to the publisher's terms and conditions. |
| Keywords: | Strategy, Business Strategy, Market Analysis, Business Model, Transformation, Innovation, Sustainability, Society, Process, Aviation, Airline Industry, Low-Cost Carriers, Applied Philosophy, Aristotle, Framework, Golden Mean |
| UCL classification: | UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > UCL School of Management UCL > Provost and Vice Provost Offices > UCL BEAMS UCL |
| URI: | https://discovery-pp.ucl.ac.uk/id/eprint/10153255 |
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