The air transport industry operates in a highly competitive, dynamic and complex environment. The past few years have witnessed a number of innovative business models such as dual brand strategy (running a full service airline and a low-cost carrier in the same airline group); low-cost long haul operations; airline cross-border joint ventures; vertical integration between airports and airlines; and the growing importance of ancillary revenue for airlines. As these new business models are continuously evolving, they may potentially change the landscape of the air transport industry.