Abstract
Since the global emergence of low cost carriers (LCC) in airline industry, shift of business is observed. LCC are gaining more market share as compared to conventional airlines known as full service carriers (FSC). LCC manage to cut costs by cutting extra services and make it possible for passengers to travel on much lower cost. Introduction of LCC has brought change in airline industry throughout the world; similarly it has emerged in South Korea as well. This paper performs competition analysis on South Korean Airlines using Lotka-Volterra (LV) model, examines and discusses the effect of emergence of LCC on FSC. LV model is also used for forecast.
| Original language | English |
|---|---|
| Pages (from-to) | 10-17 |
| Number of pages | 8 |
| Journal | Proceedings of the International Conference on Industrial Engineering and Operations Management |
| Volume | 2017 |
| Issue number | JUL |
| State | Published - 2017 |
| Externally published | Yes |
| Event | European International Conference on Industrial Engineering and Operations Management.IEOM 2017 - Duration: 24 Jul 2017 → 25 Jul 2017 |
Bibliographical note
Publisher Copyright:© 2017 IEEE.
Keywords
- Airline industry
- Competition analysis
- Lotka-Volterra
- Low cost carriers
ASJC Scopus subject areas
- Strategy and Management
- Management Science and Operations Research
- Control and Systems Engineering
- Industrial and Manufacturing Engineering
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