Growth rates are not consistent in all regions, but countries with a de-regulated airline industry have more competition and greater pricing freedom. This results in lower fares and sometimes dramatic spurts in traffic growth. The U.S., Australia, Canada, Japan, Brazil, India and other markets exhibit this trend. The industry has been observed to be cyclical in its financial performance. Four or five years of poor earnings precede five or six years of improvement. But profitability even in the good years is generally low, in the range of 2–3% net profit after interest and tax. In times of profit, airlines lease new generations of airplanes and upgrade services in response to higher demand. Since 1980, the industry has not earned back the cost of capital during the best of times. Conversely, in bad times losses can be dramatically worse. Warren Buffett in 1999 said "the money that had been made since the dawn of aviation by all of this country's airline companies was zero. Absolutely zero."[88]
Fabulous site Dave! I am taking my daughter to Greece for 12 days in late May 2017 as a grad gift (yeah I know…, I think my Dad gave me a Timex watch, but I digress) and we are flying into Santorini expecting to spend 5-6 days there then ferrying over to Mykonos (not really sure why?) for a couple days. A couple days there and then flying into Athens for 2-2.5 days to inject some culture into what is otherwise somewhat hedonistic trip. I was wondering, after reading about other islands whether it is worth going to Mykonos. I’d love to go to Crete but it seems to be tough to squeeze that in. The original plan was to go to Istanbul for a couple days but it seems really sketchy right now. So is Naxos a better idea than Mykonos? Should we stay longer in Santorini? Is 2.5 days too much for Athens? Any and all info is appreciated.

If you're wondering why this bountiful island (a two-hour ferry ride from Athens) isn't inundated with tourists, it's because the local ship-owners prefer to keep it quiet. They fraternise in country estates and neoclassical mansions in Hora. Floating on a slender peninsula, the stately capital is sprinkled with old-fashioned patisseries (Laskaris sells wonderful lemon-blossom preserves) and stylish boutiques (Waikiki Andros has gorgeous embroidered tunics and studded sandals). There's even a Museum of Contemporary Art, where the line-up might feature Man Ray or Miró.
Although Philippine Airlines (PAL) was officially founded on February 26, 1941, its license to operate as an airliner was derived from merged Philippine Aerial Taxi Company (PATCO) established by mining magnate Emmanuel N. Bachrach on December 3, 1930, making it Asia's oldest scheduled carrier still in operation.[52] Commercial air service commenced three weeks later from Manila to Baguio, making it Asia's first airline route. Bachrach's death in 1937 paved the way for its eventual merger with Philippine Airlines in March 1941 and made it Asia's oldest airline. It is also the oldest airline in Asia still operating under its current name.[53] Bachrach's majority share in PATCO was bought by beer magnate Andres R. Soriano in 1939 upon the advice of General Douglas MacArthur and later merged with newly formed Philippine Airlines with PAL as the surviving entity. Soriano has controlling interest in both airlines before the merger. PAL restarted service on March 15, 1941, with a single Beech Model 18 NPC-54 aircraft, which started its daily services between Manila (from Nielson Field) and Baguio, later to expand with larger aircraft such as the DC-3 and Vickers Viscount.
Only two airlines - Avianca and LATAM Airlines - have international subsidiaries and cover many destinations within the Americas as well as major hubs in other continents. LATAM with Chile as the central operation along with Peru, Ecuador, Colombia, Brazil and Argentina and formerly with some operations in the Dominican Republic. The AviancaTACA group has control of Avianca Brazil, VIP Ecuador and a strategic alliance with AeroGal.

The world's largest airlines can be defined in several ways. American Airlines Group is the largest by its fleet size, revenue, profit, passengers carried and revenue passenger mile. Delta Air Lines is the largest by assets value and market capitalization. Lufthansa Group is the largest by number of employees, FedEx Express by freight tonne-kilometers, Ryanair by number of international passengers carried and Turkish Airlines by number of countries served.
On Syros, capital of the Cyclades, you won’t find sugar-cube villages and whitewashed lanes. The colourful 19th-century city of Ermoupoli is built on twin peaks – one Orthodox, the other Catholic, the heritage of a long Venetian occupation. There’s still a strong Italian flavour in Ermoupoli’s marble piazzas, princely mansions, and miniature replica of La Scala, the showpiece of a year-round cultural scene. Syros hosts festivals of animation, dance, digital art, film, classical music, jazz and rembetiko, the Greek blues popularised by local musician Markos Vamvakaris. A few rembetiko joints have survived in the upper town, Ano Syra.
By the early 1920s, small airlines were struggling to compete, and there was a movement towards increased rationalization and consolidation. In 1924, Imperial Airways was formed from the merger of Instone Air Line Company, British Marine Air Navigation, Daimler Airway and Handley Page Transport Co Ltd., to allow British airlines to compete with stiff competition from French and German airlines that were enjoying heavy government subsidies. The airline was a pioneer in surveying and opening up air routes across the world to serve far-flung parts of the British Empire and to enhance trade and integration.[14]
Airlines often have a strong seasonality, with traffic low in Winter and peaking in Summer. In Europe the most extreme market are the Greek islands with July/August having more than ten times the winter traffic, as Jet2 is the most seasonal among low-cost carriers with July having seven times the January traffic, whereas legacy carriers are much less with only 85/115% variability.[73]
I would recommend Naxos over Mykonos and with 12 days you could easily add Paros too. With Santorini, Paros, and Naxos you’ll get a good mix of different delights and some ferry island hopping too which is fun in itself. 1.5 days in Athens is perfect for most – 1 day for the Plaka, Parthenon, Acropolis Museum area; and a half-day to visit the Archaeological Museum which is a short drive or walk from the Plaka but hard to fit in one day along with the other sights.
Excellent choice of islands, though getting between them presents one or two challenges (they are not as conveniently connected like the Cycladic or Dodecanese islands so island hopping is not as popular in this island group). All three islands are served by airports with year-round connections to Athens and in the Summer with international charter flights from Europe. Let’s take the pros and cons of each island.

My husband & I were planning to go on an organized Hiking the Greek Isles tour in May 2017, that we just found out is cancelled. It is our 10 year anniversary so we’d still love to plan a trip on our own for about 2 weeks in length. We are a bit apprehensive because we are from Canada and have never been to Europe before. I have several questions I’m hoping you can help me out with. One, how much should we budget/day for eating out for lunch & dinner? Most of the hotels look like they include breakfast. Two, how much should we budget for ferries? We are considering around 2 days in Athens, 2 days in Tinos, 2 days in Naxos, 3 days in Santorini & 4 days in Crete. Our main goals are seeing the beauty of the Greek islands, getting some physical activity in (walking & hiking), and spending time together. Any input would be much appreciated! Thanks very much! Jennifer


Computers also allow airlines to predict, with some accuracy, how many passengers will actually fly after making a reservation to fly. This allows airlines to overbook their flights enough to fill the aircraft while accounting for "no-shows", but not enough (in most cases) to force paying passengers off the aircraft for lack of seats, stimulative pricing for low demand flights coupled with overbooking on high demand flights can help reduce this figure. This is especially crucial during tough economic times as airlines undertake massive cuts to ticket prices to retain demand.[65]
If a particular city has two or more airports, market forces will tend to attract the less profitable routes, or those on which competition is weakest, to the less congested airport, where slots are likely to be more available and therefore cheaper. For example, Reagan National Airport attracts profitable routes due partly to its congestion, leaving less-profitable routes to Baltimore-Washington International Airport and Dulles International Airport.
I’m a Maui native and it is not that expensive! You just need to do it the smart way, avoid tourist traps and ABC stores, stop at Costco to stock up on supplies before you reach your hotel. Many of the best things Hawaii has to offer are free: beaches, sunsets, hikes, snorkeling, walking the streets of small beach towns. Condos are also way cheaper than hotels and they are usually beachfront.
Other factors, such as surface transport facilities and onward connections, will also affect the relative appeal of different airports and some long distance flights may need to operate from the one with the longest runway. For example, LaGuardia Airport is the preferred airport for most of Manhattan due to its proximity, while long-distance routes must use John F. Kennedy International Airport's longer runways.

Transport between them can be patchy, but a new service linking Zakynthos with Corfu which started this year now brings all the islands (bar Kythira) together. Zakynthos is otherwise linked to Kefallonia with an old-style open deck ‘slipper’ ferry; Kefallonia includes Ithaki on its local small ferry route to Nydri on Lefkada. There is no link (except for the new service) from Lefkada to Paxi/Corfu. Corfu has links to Paxi and its little know satellite islands just to the north. Kythira has an airport with flights to Athens and ferries to Crete (Kissamos) and the Peloponnese (Gythio, Kalamata, and Neapoli).
The sleeper hit of the Cyclades, Serifos is the summer retreat of interior designers and architects who prefer to keep the sandy beaches to themselves. (One French home-owner is so protective of her hideaway that she tells all her friends she summers on nearby Sifnos.) Even in August, you’ll find coves where you can skinny dip in blissful solitude. That’s because the best beaches (Kalo Ambeli, Vagia, Skala) are only accessible via bone-rattling dirt roads or donkey tracks. Better still, rent a motor boat from the laidback harbour, Livada. Make sure to moor outside Anna’s taverna on Sikamia beach for freshly caught fish and garden-grown salads.
You’d have to check the schedule for your specific dates but I think Santorini then Milos then Paros then Naxos and Athens would probably be the best order. 3 days in each sounds great. Or a small tweak: 2 days in Milos and then 4 days in Santorini (splitting time between 2 of the 4 caldera towns) or even 4 days in Paros (splitting time between Naousa and Parikia).
If the glitzy excess gets too much, escape to Fokos taverna for superfood salads and lamb chops, or Kiki's, an off-grid grill-shack overlooking Agios Sostis bay, where even Naomi Campbell has to queue for a table. Or cruise over to the tiny island of Delos, an archaeological sanctuary that once thronged with 30,000 sun worshippers (the temple is dedicated to Apollo, the Greek god of light).

U.S. citizens don’t need a passport to explore this trio of Caribbean islands (St. Thomas, St. John and St. Croix). While the 133-square-mile chain has history in spades — Christopher Columbus touched down in 1493 — 2017 marks a banner year as the USVI celebrates its Centennial, with special events (festivals, parades and presumably lots of rum cake) continuing throughout the year. Also historic, Caneel Bay, the 60-year-old, 170-acre escape in St. John’s Virgin Islands National Park founded by environmentalist and preservationist Laurance Rockefeller, just celebrated its diamond anniversary. The property is bringing back the original beauty of its pared-down, 1950s-inspired Scandinavian style.
In 1926, Alan Cobham surveyed a flight route from the UK to Cape Town, South Africa, following this up with another proving flight to Melbourne, Australia. Other routes to British India and the Far East were also charted and demonstrated at this time. Regular services to Cairo and Basra began in 1927 and were extended to Karachi in 1929. The London-Australia service was inaugurated in 1932 with the Handley Page HP 42 airliners. Further services were opened up to Calcutta, Rangoon, Singapore, Brisbane and Hong Kong passengers departed London on 14 March 1936 following the establishment of a branch from Penang to Hong Kong.
U.S. citizens don’t need a passport to explore this trio of Caribbean islands (St. Thomas, St. John and St. Croix). While the 133-square-mile chain has history in spades — Christopher Columbus touched down in 1493 — 2017 marks a banner year as the USVI celebrates its Centennial, with special events (festivals, parades and presumably lots of rum cake) continuing throughout the year. Also historic, Caneel Bay, the 60-year-old, 170-acre escape in St. John’s Virgin Islands National Park founded by environmentalist and preservationist Laurance Rockefeller, just celebrated its diamond anniversary. The property is bringing back the original beauty of its pared-down, 1950s-inspired Scandinavian style.
Take everything you want Greece to be — olive groves and tavernas, fishermen and bakers leading quiet village lives, stone villas and cypress trees and brilliant bougainvillea — and put it on a tiny, Ionian island only reachable by boat: That’s Paxos. On the western coast, sheer cliffs, rock arches and 40 sea caves put on a stunning show. Daytrip to the neighboring island of Antipaxos for powder sand and water so aqua, it rivals the Caribbean Sea.
I am moving to Bali next month. I am currently on another Indo Island, less popular and not really paradise but has some pretty destinations (Batam Island). I must say I am so interested in visiting the other places well but if you are visiting Bali it is definitely a romantic experience. It’s the perfect place for a honeymoon and the best part is… it’s cheap! The most expensive thing will probably be the airfare unless you reside in South East Asia.
I think Naxos would be the best island for you: incredible beaches, wonderful villages, great restaurants, and some very good hotels (though I don’t think I’d go so far as to call them hip – but nice, for sure). The farther south you go from Naxos Town the quieter the beaches get – so keep going to find the balance you prefer. If you want an island with a little more hip but beaches not quite as perfect then try Paros. If you want to err on the quieter and idyllic side then Antiparos or Ikaria.
The delicate Great Barrier Reef is the earth’s most extensive coral-reef system, supporting more than 1,600 species of fish, along with whales, rays, octopuses, dolphins and more. Nestled in the heart of this world wonder are the 74 Whitsunday Islands, all but four of which are protected national parklands. Bask in luxury at a high-end resort like Hamilton Island, and book a seaplane or helicopter flight to admire sights like Heart Reef and the swirling silica sands of Whitehaven Beach’s Hill Inlet.
The Island of Hawaii (i.e., the Big Island) contains 10 of the world’s 14 climate zones — the only spot on the planet with so many condensed into one small region. Lush tropical terrain rules the green, wet, windward side of the island (see Akaka Falls and Waianuenue/Rainbow Falls), while more arid beauty is on display at Hapuna Beach Park. You can even enter an ice climate at the mystical summit of Mauna Kea volcano, as well as Lake Waiau, one of the highest lakes in the United States.
Kefallonia was severely shaken by an earthquake in 1953 and thereafter lost its quaint gloss. The picturesque northern port of Fiskardo however, escaped much of the destruction and remains to this day one of the main focal points for visitors to the island, so is a good spot for a stay of 2-3 days. Pretty, waterfront cafés and restaurants and a cosy, folksy feel predominate. Asos, between Fiskardo and Argostoli is a west coast ‘resort’ village that pulls in its fair share of visitors and the view down to Asos from the main island road is one of the most photographed spots on Kefallonia.
Kate Hudson, Goldie Hawn and Amy Schumer were among the first guests at Four Seasons Resort Oahu at Ko Olina, a 642-acre that opened in May 2016 on the island’s west coast 17 miles from Honolulu. Closer to the action of Waikiki, the Surfjack Hotel opened in May with a dose of vintage 1960s Hawaii, down to its painted murals and birds of paradise wallpaper by local artists that are just begging to be Instagramed. Pacific Beach Hotel re-emerges in the fall as Alohilani Resort Waikiki Beach, whose $115 million upgrades include two new restaurants by celebrity chef Masaharu Morimoto.
A complicating factor is that of origin-destination control ("O&D control"). Someone purchasing a ticket from Melbourne to Sydney (as an example) for A$200 is competing with someone else who wants to fly Melbourne to Los Angeles through Sydney on the same flight, and who is willing to pay A$1400. Should the airline prefer the $1400 passenger, or the $200 passenger plus a possible Sydney-Los Angeles passenger willing to pay $1300? Airlines have to make hundreds of thousands of similar pricing decisions daily. 

In 2016, Stiniva beach on the island of Vis was named the best beach in Europe. One of the top beaches in Croatia, Stiniva is well hidden from the sea and not the easiest beach to access. It’s either a hike down to the beach or access by small boat, but a spectacular view will reward you for your effort. Although Vis has never really had large tourists numbers, it has become a popular stop for those sailing the Croatian islands.
I would recommend Naxos over Mykonos and with 12 days you could easily add Paros too. With Santorini, Paros, and Naxos you’ll get a good mix of different delights and some ferry island hopping too which is fun in itself. 1.5 days in Athens is perfect for most – 1 day for the Plaka, Parthenon, Acropolis Museum area; and a half-day to visit the Archaeological Museum which is a short drive or walk from the Plaka but hard to fit in one day along with the other sights.
In 1926, Alan Cobham surveyed a flight route from the UK to Cape Town, South Africa, following this up with another proving flight to Melbourne, Australia. Other routes to British India and the Far East were also charted and demonstrated at this time. Regular services to Cairo and Basra began in 1927 and were extended to Karachi in 1929. The London-Australia service was inaugurated in 1932 with the Handley Page HP 42 airliners. Further services were opened up to Calcutta, Rangoon, Singapore, Brisbane and Hong Kong passengers departed London on 14 March 1936 following the establishment of a branch from Penang to Hong Kong.
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