1. Introduction
Recent terrorist acts affected the airline industry dramatically, unemployment, bankruptcies (Swissair) and billions of losses by the airline companies. Since September the 11th the airline industry all over the world has experienced instability and people avoided flying. After the events of September the 11th many airline companies reduced the number of flights and aircrafts, which caused unemployment in the industry. There has been a cumulative impact of fewer passengers, lower revenues and increased costs. New taxes, fees, and costs associated with security added up. Net profit per passenger in the five consecutive quarters since 9/11 was significantly reduced .
The airline industry can be divided into three main geo
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