Seminar paper from the year 2010 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, University of Lugano, course: Corporate Strategy, language: English, abstract: Due to exogenous shocks like the 1973 oil crisis or the 2001 terrorist attacks as well as the 2003 Iraqwar the worldwide Air Transport Industry faces its most severe crisis in its history. Many companiessince then downsized their workforce and even European flag carriers like Swissair and the BelgianSabena did not succeed to re-invent themselves, went bankrupt and so out of business.The business and social world is getting more and more mobile, individual and flexible and so thepeoples lives are determined by a high desire for mobility and travelling.