RM Moment #9:
The civil aviation industry possesses an inflexible production. It was
exactly this characteristic that led Robert “Bob” Crandall, president of
American Airlines in the 1970s, to develop a demand management process that was
very different from the traditionally used. This process was called Yield
Management, in reference to the metric widely used in aviation, Passengers
Yield, which would later be called Revenue Management..
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