Xerfi Global has recently published a study on the global airline industry, which is operating in what would seem a positive market environment: passenger and cargo volumes have been growing, fuel prices, which make up a substantial part of operating costs, have been low, industry consolidation undertaken over the past few years has improved cost-efficiency and airlines have been diversifying their revenue by focussing on ancillary services, which accounted for 22% of revenue in 2016 compared to 10% in 2007. [...]
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