The COVID-19 pandemic brought the global aviation industry to its knees, grounding fleets, shuttering borders, and causing unprecedented financial losses. As the world emerges from the crisis, airlines are navigating a transformed landscape, grappling with new challenges and opportunities. Understanding how airlines make money—or lose it—in this post-pandemic world requires a deep dive into the economics of the industry. From ticket pricing to fuel costs, and from cargo operations to loyalty programs, here’s a breakdown of the key factors that determine whether an airline soars or stumbles. A high-resolution image of a modern commercial aircraft cruising at high altitude, representing the resilience and economic transformation of the aviation industry after the COVID-19 pandemic. The image reflects themes of global travel, airline profitability, and the evolving challenges and opportunities in aviation. The Basics of Airline Economics At its core, the airline business is a high-cos...