Hard Landing: The Epic Contest for Power and Profits that Plunged the Airlines into Chaos by Thomas Petzinger Jr.

The epic struggle for dominance in the airline industry by Thomas Petzinger Jr. is an exciting and detailed account of the changes and shifts in power that occurred in the airline industry from the mid-1980s to the early 2000s. The book takes the reader through the entire process, from the time when the small, regional airlines began to challenge the larger legacy carriers, to the “Big Bang” deregulation of the industry in 1978, to the emergence of discount carriers like Southwest Airlines, to the consolidation of the industry through buyouts and mergers.

The book provides an in depth look at the key players in the struggle for control of the airline industry, from the chief executives at the “Big Five” legacy carriers like American Airlines and United Airlines, to the pioneers of the discount carriers like Southwest founder Herb Kelleher, to the “disruptors” that disrupted the industry such as Southwest and the upstarts like JetBlue and Primaris Airlines. Petzinger Jr. draws on insider stories, interviews, and exhaustive research to tell a captivating story of the politics of power and the pursuit of profits in the airline industry.

The book starts off by examining the “Big Bang” of deregulation, which broke up the cartel of big airlines and ushered in a new era of competition in the industry. After the big bang, smaller regional carriers, built on old trunk lines, began to fight for market share with the major carriers, who in response began to start discount subsidiaries to try and compete, but the smaller carriers often had the upper hand due to their lower costs and flexibility. This created a new era of competition and began the trend of increased industry consolidation.

The major airlines, who had relied on volume and pricing to make up for low margins, began to struggle as they faced increased competition and rising costs. This prompted a wave of acquisitions, mergers and buyouts, which made large carriers like American Airlines and United Airlines merger partners. This new consolidated industry emerged more powerful, but at the same time more fragile than before. As the industry shook, upstarts and low-cost carriers like Southwest, JetBlue and Primaris Airlines entered the scene, and the traditional airlines had to find a way to match their low fares and customer-friendly offerings.

The conflict between the discount carriers and the legacy carriers reached a boiling point in the late 1990s, as the legacy carriers launched an onslaught of discount flights, but at the same time charged full-price for their flights. This sparked a price war, an epic battle for market share, and the failure of several new airlines. The surge of competition forced airline executives to rethink strategy, and spurred a flight to “fare wars,” where airlines were forced to compete solely on price instead of quality.

The struggle for power in the airline industry ended in a hard landing, with mounting losses and rising debt. The events of the early 2000s showed that the industry had reached its breaking point, as several carriers either went out of business or had to declare bankruptcy. Although there were some survivors that benefited from the “Big Bang” of deregulation, like Southwest and JetBlue, they were the exception to the rule.

The epic struggle for power between the discount and legacy carriers in the airline industry changed the industry forever, and Thomas Petzinger Jr.’s Hard Landing provides a captivating and comprehensive look at this critical time period for the airline industry. Through interviews and extensive research, he provides an inside look at the major players involved in the struggle, the development of new strategies, the rise of new airlines, and the eventual hard landing that the industry had to face.