As major airlines in the US and Europe restructure or seek bankruptcy protection from their creditors, they have no shortage of culprits-from the September 2001 terrorist attacks to the war in Iraq and surging oil prices-to blame for the problems that have plagued them in recent years. The biggest threats, however, may be more structural. Low-cost carriers have drawn travelers away from the major hub-and-spoke players, and airlines, like other companies, face fiscal pressures, such as the looming burden of retirement benefits. This collection of McKinsey Quarterly articles examines the difficulties confronting the airlines and suggests several ways for them to cope more effectively: higher utilization, more efficient maintenance, and greater attention to customer value.
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