Question

The FAA has granted a license to a new airline, Omniair, and awarded it several routes between Los Angeles and Chicago. The flights per day for each route are shown in the following network:

Answer 1

The question pertains to the Business field, discussing the impact of the Airline Deregulation Act of 1978 on the airline industry, leading to increased competition, new airlines, and bankruptcies.

Step-by-step explanation:

The subject of the question is Business, specifically focusing on the airline industry after the Airline Deregulation Act of 1978. This act significantly changed the landscape of the airline industry, ending governmental control over airfares and schedules, which resulted in increased competition and the emergence of new airlines, as well as the bankruptcy of established companies. Mention of Omniair receiving a license from the Federal Aviation Administration (FAA) and being awarded several flight routes is indicative of business operations post-deregulation.

The network of flights provided by different airlines including United, American, Delta, Alaska, Pinnacle, and Airtrain Airlines exemplifies the diversified market created by deregulation. The reference to historical outcomes, such as the disappearance of fabled airlines like Pan American, Eastern, and Braniff, and the brief existence of airlines such as People Express, illustrates the volatile nature of the airline business in the wake of deregulation.