Completion requirements
Advances in transportation have spurred global economic growth by reducing travel time and increasing the number of passengers. A businessperson can board a plane in the evening in New York and land in London after a 6-hour flight to attend a morning business meeting. A century ago, this journey would take several weeks by ship. Read chapter 2, which discusses the opportunities and risks for the transportation industry today. The transportation industry is vital to international business since it allows business trips, meetings, and commercial activity to occur regularly and efficiently.
Key Terms
- Ancillary revenues: money earned on non-essential components of the transportation experience including headsets, blankets, and meals
- Blue Sky Policy: Canada's approach to open skies agreements that govern which countries' airlines are allowed to fly to, and from, Canadian destinations
- Cruise BC: a multi-stakeholder organization responsible for the development and marketing of British Columbia as a cruise destination
- Cruise Lines International Association (CLIA): the world's largest cruise industry trade association with representation in North and South America, Europe, Asia, and Australasia
- International Air Transport Association (IATA): the trade association for the world's airlines
- Low-cost carrier (LCC): an airline that competes on price, cutting amenities and striving for volume to achieve a profit
- National Airports Policy (NAP): the 1994 policy that saw transfer of 150 airports from federal control to communities and other local agencies, essentially deregulating the industry
- Open skies: a set of policies that enable commercial airlines to fly in and out of other countries
- Passenger load factor: a way of measuring how efficiently a transportation company uses its vehicles on any given day, calculated for a single flight by dividing the number of passengers by the number of seats
- Railway Safety Act: a 1985 Act to ensure the safe operation of railways in Canada
- Ridesharing apps: applications for mobile devices that allow users to share rides with strangers, undercutting the taxi industry
- Transportation Safety Board (TSB): the national independent agency that investigates an average of 3,200 transportation safety incidents across the country every year