The WSJ has a brilliant article here.
According to the WSJ, the amount of net income made on one flight is approximately $164. This assumes that the flight has 100 passengers. This is as close to being perfectly competitive as you can get. This site, lists "Many" airlines. Fuel costs make up the bulk of costs for the airlines as does salaries, taxes, and maintenance.
I've always wondered. Why would someone enter a perfectly competitive industry?
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