Economic Analysis of Airline Tickets and the Role of IT in Affecting the Aviation Industry

To fly from London to New York nowadays, it is customary to visit a traveling website such as http://travel.yahoo. com, in order to make the reservation. Surprisingly, there are more than 46 flights to choose from with varying prices ranging from $672 to $1,989. In fact, with an extra $3 the VIP services in coach would be granted, which infers that long gone are the days where many calls had to be made to compare prices then drive to the travel agent to pick up the ticket. The previous leads to two questions: why are the prices are varying? And how did this website come about? Accordingly, the jest of this article is to discuss the elements that affect the travelers’ ticket price as well as the role of information technology in affecting the prices of the airline tickets. In retrospect, the article will shed light economic Analysis of Airline Tickets and the role of IT in Affecting the Aviation Industry