1. Discuss the ways in which air carriers compete with each other. How have regulatory changes affected this competition? 2. What is the major advantage of air carriers? How does this advantage...

1. Discuss the ways in which air carriers compete with each other. How have regulatory changes affected this competition?

2. What is the major advantage of air carriers? How does this advantage impact the inventory levels of those firms using air transportation? Explain how this advantage relates to the choice of modes when choosing between air carriage and other modes of freight and passengers transport.