Final answer:
The airline business model refers to the strategy and framework used by airlines, and one example of a successful model in the past five years is Southwest Airlines.
Step-by-step explanation:
The airline business model refers to the strategy and framework used by airlines to generate revenue and provide air transportation services. It includes various components such as pricing, routes, fleet management, customer service, and marketing. One example of a successful airline business model in the past five years is Southwest Airlines.
Southwest Airlines:
Southwest Airlines is known for its low-cost model, offering affordable fares and operating primarily in the domestic market. They have a point-to-point network system rather than a hub-and-spoke model, which allows for shorter travel times and lower costs. Southwest focuses on providing excellent customer service, and they have a strong company culture that prioritizes employee satisfaction and teamwork. Their business model has been successful in attracting passengers and maintaining profitability.