Money In The Air

Groups Overall Research Question: What actions/circumstances make a company or person successful?

My Hypothesis: The Airline business is somewhat successful because of the large amount invested wisely overall to make a strong growing company with minimal chance of failure.

Billions of Dollars are made in the air transportation industry 
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I am extremely interested in the Airline for several reasons. I am yet to understand how hundreds of multi-million dollar planes can actually make a company a profit, especially in regards to fuel, maintenance, and other expenses. The chance for profit seems very unlikely, but they are profitable somehow, and I am really interested in how they do so. Another reason I am curious about the Airline Industries is because I am pursuing a business in the Aviation world. The last couple months I have been doing flight training in hopes to become a Airline Pilot myself. The Air Industry and everything about it fascinates me and I am anxious to learn more about it.

Questions:

1. What kind of profit margins do the Airline Industries make?
2. The expenses must be incredible in the airline business, but how expensive?
3. What strategies and techniques do the airlines use to make the most money?
4. How do certain Airlines deal with competing business on the same routes or at the same airport?
5. How much does fuel cost? Also, What is the general trend of the Airline Industry? (Up? Down?)