The world's largest airlines can be defined in several ways. American Airlines Group is the largest by its fleet size, revenue, profit, passengers carried and revenue passenger mile. Delta Air Lines is the largest by assets value and market capitalization. Lufthansa Group is the largest by number of employees, FedEx Express by freight tonne-kilometers, Ryanair by number of international passengers carried and Turkish Airlines by number of countries served.
It’s a tough call. The good news is that whatever you decide, it will feel like the right thing after you’ve done it. You’ll almost certainly say to yourself, “I’m so glad we saw both islands” or “I’m so glad we had 6 full days on Santorini.” In deciding I would ask whether a return trip to Greece is likely or possible in the next couple of years. If so, then spend your 6 days on Santorini and explore that island, then return to Crete at some time in the future for a deserving 7 to 10 days. But if this is a one-time deal for the foreseeable future then do 3 days on Santorini and 3 days in Crete. (Whatever you decide don’t do a day trip to the other island as it’s not worth the time and effort.)
Hi dave – very cool and informative site! We’re a family of 6 (all adults) traveling to Greece for the first time…and most likely the last time. We’d like to visit some historic sites, but more interested in experiencing Greek life in small towns. Beaches and nightlife are not important. I’m looking to put together a balanced itinerary covering 10 days (11 nights) and had the following in mind:
Analysis of the 1992–1996 period shows that every player in the air transport chain is far more profitable than the airlines, who collect and pass through fees and revenues to them from ticket sales. While airlines as a whole earned 6% return on capital employed (2–3.5% less than the cost of capital), airports earned 10%, catering companies 10–13%, handling companies 11–14%, aircraft lessors 15%, aircraft manufacturers 16%, and global distribution companies more than 30%. (Source: Spinetta, 2000, quoted in Doganis, 2002)
Congress passed the Air Transportation Safety and System Stabilization Act (P.L. 107-42) in response to a severe liquidity crisis facing the already-troubled airline industry in the aftermath of the September 11th terrorist attacks. Through the ATSB Congress sought to provide cash infusions to carriers for both the cost of the four-day federal shutdown of the airlines and the incremental losses incurred through December 31, 2001, as a result of the terrorist attacks. This resulted in the first government bailout of the 21st century. Between 2000 and 2005 US airlines lost $30 billion with wage cuts of over $15 billion and 100,000 employees laid off.
Airlines often have a strong seasonality, with traffic low in Winter and peaking in Summer. In Europe the most extreme market are the Greek islands with July/August having more than ten times the winter traffic, as Jet2 is the most seasonal among low-cost carriers with July having seven times the January traffic, whereas legacy carriers are much less with only 85/115% variability.