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Hard Landing: The Epic Contest for Power and Profits That Plunged the Airlines into Chaos
In this updated paperback edition of a "rich, readable, and authoritative" Fortune) book, Wall Street Journal reporter Petzinger tells the dramatic story of how a dozen men, including Robert Crandall of American Airlines, Frank Borman of Eastern, and Richard Ferris of United, battled for control of the world's airlines. 416 pp. Radio drive-time pubilcity. 20,000 print.
616 pages, Paperback
First published January 1, 1995
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Displaying 1 - 30 of 58 reviews
June 28, 2017
Probably the single best book about game theory applied to business. Collectively, airlines benefit from high prices and low wages. Individually, they benefit from competing on price and keeping employees happy. And their costs are largely either fixed (planes) or totally out of their control (fuel).
You can guess what happens next, but it's fun to watch.
The book has brief capsule summaries of airline personalities, both well-known (Herb Kelleher, Richard Branson) and obscure (to me).
The afterword is cautiously optimistic, but about twenty years too early.
You can guess what happens next, but it's fun to watch.
The book has brief capsule summaries of airline personalities, both well-known (Herb Kelleher, Richard Branson) and obscure (to me).
The afterword is cautiously optimistic, but about twenty years too early.
February 10, 2019
The airline industry is run by macho men. This is sort of the founding history of the industry in the United states. The book is a history based on the men and not focussed on the innovations - like Sabre the computer system / the jets / the financing. A lot of the meaty technical stuff is left out to make some people heroes and villians. Its a decent history and covers a lot of ground. But it covers a lot of ground very lightly.
September 2, 2019
What a great book. It's a history of American commercial aviation and its international development up untill 1995. It starts out a bit hectic, the early years, but settles in a fascinating story about the few airlines ceos and their blunders and victories. It covers organized labor, corporate strategy, operations, marketing in such a way that you can't help but enjoy it. I think this is a fantastic business book and history book in one. It will surely teach you a different way to look at the airline industry but also inspire you to think differently about business in general.
Highly recommended.
Highly recommended.
June 26, 2020
Плотная книга про развитие авиационной пассажирской индустрии до 1995.
- До 70х рынок авиаперевозок жестко управлялся государством (вплоть до цен на билеты). Когда отпустили вожжи, началась дикая конкуренция и цены сильно упали. Но многие компании не смогли пережить этого всего и благополучно скончались.
- Борьба с профсоюзами — сложное и неблагодарное дело. Редко когда это заканчивается хорошо и в любом случае портит дух внутри компании. Лучше всего себя чувствовали компании, где не приходилось это делать (Southwest)
- Слияния похожих по размеру игроков обычно заканчиваются плохо. Когда огромная корпорация поглощает мелкую, все в целом ОК. Но когда размеры близки, все плохо. Культурный клэш и так далее. Исправлять долго, и не всегда удается.
- Фокус и унификация побеждает. Southwest использовала одну единственную модель самолетов, одну единственную модель перевозок, очень простые принципы ценообразования. В долгосрочной перспективе все усложненные компании были менее успешны.
- Говнеца во всем этом бизнесе было с избытком. Политические интриги, конкуренция до смерти (в буквальном смысле), форсированные поглощения и прочее.
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Пару цитат:
“Rollin, you’re crazy,” he said. “Let’s do it.” King and Kelleher launched the new Air Southwest Company without the slightest idea of the horrors awaiting them. Had it been almost anyone else at the controls, Air Southwest would have never gotten off the napkin, much less off the ground.
--
Bob Peach, for his part, had lunch with Frank Lorenzo shortly after the company had slipped from his grasp. Afterward Peach went home to prepare to present a speech to the Rotary Club. He walked into his closet to get dressed, grabbed a gun, and killed himself.
- До 70х рынок авиаперевозок жестко управлялся государством (вплоть до цен на билеты). Когда отпустили вожжи, началась дикая конкуренция и цены сильно упали. Но многие компании не смогли пережить этого всего и благополучно скончались.
- Борьба с профсоюзами — сложное и неблагодарное дело. Редко когда это заканчивается хорошо и в любом случае портит дух внутри компании. Лучше всего себя чувствовали компании, где не приходилось это делать (Southwest)
- Слияния похожих по размеру игроков обычно заканчиваются плохо. Когда огромная корпорация поглощает мелкую, все в целом ОК. Но когда размеры близки, все плохо. Культурный клэш и так далее. Исправлять долго, и не всегда удается.
- Фокус и унификация побеждает. Southwest использовала одну единственную модель самолетов, одну единственную модель перевозок, очень простые принципы ценообразования. В долгосрочной перспективе все усложненные компании были менее успешны.
- Говнеца во всем этом бизнесе было с избытком. Политические интриги, конкуренция до смерти (в буквальном смысле), форсированные поглощения и прочее.
-
Пару цитат:
“Rollin, you’re crazy,” he said. “Let’s do it.” King and Kelleher launched the new Air Southwest Company without the slightest idea of the horrors awaiting them. Had it been almost anyone else at the controls, Air Southwest would have never gotten off the napkin, much less off the ground.
--
Bob Peach, for his part, had lunch with Frank Lorenzo shortly after the company had slipped from his grasp. Afterward Peach went home to prepare to present a speech to the Rotary Club. He walked into his closet to get dressed, grabbed a gun, and killed himself.
April 9, 2020
Interesting, in-depth review of airlines from the 1930s up until the end of the 20th century. Covers many important changes in the industry, the most notable being deregulation and the ensuing consolidation. An interesting read in general but I would probably have preferred more detail on the changes in aircraft technology, route planning and the mechanics of air transportation itself. Instead, so much of the book is dedicated to labor disputes and strike breaking (a big part of the history, no doubt) that I found it to get a bit tiresome.
March 30, 2021
Petzinger weaves the history of a complex industry into a compelling narrative that seemed truly surreal in many moments. I appreciated the attention given to the contentious relationships between labor and management, and the focus on how deregulation played out as well. This book earned a place on my shelf as valuable context on the aviation industry's 20th century.
October 15, 2012
This long read (416 pages) contains a very detailed explanation of the challenges involved in managing a major airline. In the years following deregulation of the industry, CEOs faced an extremely challenging environment to stay afloat. IN an often cuthroat marketplace they were forced to pare back costs in all ways imagineable. I was previously unaware of the importance of online fare structues and the involvement of travel agencies to attract customers.
April 1, 2012
I learned so much about the airline industry. I wouldn't recommend this to everyone, but for someone like me, who has an interest in aviation and airlines, it was a wonderful read. Actually, I think anyone who has an interest in business and larger than life evil CEO characters might enjoy this. It appears to be very well sourced, if a bit out of date. (It was last updated in the late 90s).
January 6, 2014
Very (too much for me) detailed account of deregulation of the airlines in the US. The story of the CEOs and presidents who ran the airlines and the anecdotes about their lives and personalities interested me more, as well as the creativity and ruthlessness it took to evolve the industry and keep trying to make a profit.
December 14, 2022
Get ready for a tumultuous ride through the backbone of the airlines industry. Hard Landing details the origins of some of the most famous airlines out there...well famous in the early 20th century. It details the key players and the key figures that emerged from the ashes of the regulation era and how they fought with other opponents in the hell scape that soon became deregulation. It shows the profit wars between airlines, the battle against the low fare upstarts, and the executives that became key in orchestrating successful mergers, takeovers, and expansion during this new era of regulation. Although the story introduces you in the late 20's as Charles Lindbergh surpasses the flying barriers thought impossible by man. It really hones in on the industry battle fighting for and against deregulation and the battle that ensued post deregulation. I found this book to be fascinating. It gave a thorough insight into the backdoor meetings that happen between corporate chieftains, sheds light to governmental policies and reasoning, as well as the complex marketing and management strategies of airlines that still exist today in the US such as American, Delta, Southwest, and United. In addition to a history of aviation the book is told not as an academic recount blaring on about profit figures and with complex jargon but by telling the story as a novel with anecdotes and humor. The book does an amazing job at breaking down why the airline industry is so cutthroat, the economics within the industry, and why so many airlines merge or are subject to bankruptcy. Despite the praises I just sang earlier I do feel that sometimes the book became confusing as you navigated between the overlapping stories of these airlines. There are what feels like hundreds of names being thrown around and often the overlap or jump between different airlines can serve as confusing. However, this may be a bit of a mix between the writing itself as well as the nature of the story that is being told. With that caveat in mind I would highly recommend this book to anyone who is curious about how the airlines we fly on came to be or how airlines like Southwest are able to survive with such low fares, or how their competitors are able to survive as well!
September 1, 2020
An excellent introduction to the growth of commercial aviation. This book provides a great examination of the various personalities shaping deregulation, as well as a primer on airlines economics. Petzinger is an excellent story-teller and offers a “fly-on-the-wall” look at key moments in aviation history. While meticulously researched and well-sourced, this book is highly accessible and readable. The personalities come to life: the mercurial Frank Lorenzo; the failed visionary, Dick Ferris; the consummate aesthete Stephen Wolf; legendary Colonel, Frank Borman; and the ever-vigilant Bob Crandall.
At the macro level, the book is effective at illustrating the law of unintended consequences. When Congress passed the Airline Deregulation Act of 1978, few could have foreseen the airline startups, mergers, hostile takeovers, and bankruptcies which would follow. Deregulation had its benefits: competitive ticket prices, computerized booking, the advent of loyalty programs. It did, however, create a race to the bottom, in which airlines were compelled to resort to rigid cost-cutting, union-busting, consolidation, and fees in order to turn a profit. On net, budget-conscious passengers did quite well, thanks in part to subsidies from business travelers. Unionized employees, not so much. This new economic environment also gave rise to a series of robber barons.
At the macro level, the book is effective at illustrating the law of unintended consequences. When Congress passed the Airline Deregulation Act of 1978, few could have foreseen the airline startups, mergers, hostile takeovers, and bankruptcies which would follow. Deregulation had its benefits: competitive ticket prices, computerized booking, the advent of loyalty programs. It did, however, create a race to the bottom, in which airlines were compelled to resort to rigid cost-cutting, union-busting, consolidation, and fees in order to turn a profit. On net, budget-conscious passengers did quite well, thanks in part to subsidies from business travelers. Unionized employees, not so much. This new economic environment also gave rise to a series of robber barons.
January 30, 2021
One of the BEST books on the development of the American air travel market I’ve ever read. A true crash course into everything relevant in the airline industry since before the deregulation, all the way to the early 90s.
Petzinger Jr., a journalist, knows exactly how to write to keep the interest going from page to page. The plethora of familiar names of people I’ve either met in person or heard about kept me eager to read more. At the same time there were revelations and confirmations of things I didn’t know, and things I suspected but wasn’t sure about.
The focus in this book remains on the key actors (Frank Lorenzo, Bob Crandall, Ferris, Bakes, Burr…). It brings old stories to life (what REALLY was behind the rise and fall of People Express), describing victories and tragedies in a market that seems to be always keeping its actors toeing the line of collapse.
We start before the deregulation, learning about the inner dynamics of some key airlines, also revealing the interdisciplinary network of the true decision-makers. The honest dislike these men had for each other is nothing short of an entertaining read, especially since literally everyone I’ve met who has also met Frank Lorenzo did NOT miss a chance to talk shit about him. Which, tbh, he kinda deserves.
Petzinger Jr., a journalist, knows exactly how to write to keep the interest going from page to page. The plethora of familiar names of people I’ve either met in person or heard about kept me eager to read more. At the same time there were revelations and confirmations of things I didn’t know, and things I suspected but wasn’t sure about.
The focus in this book remains on the key actors (Frank Lorenzo, Bob Crandall, Ferris, Bakes, Burr…). It brings old stories to life (what REALLY was behind the rise and fall of People Express), describing victories and tragedies in a market that seems to be always keeping its actors toeing the line of collapse.
We start before the deregulation, learning about the inner dynamics of some key airlines, also revealing the interdisciplinary network of the true decision-makers. The honest dislike these men had for each other is nothing short of an entertaining read, especially since literally everyone I’ve met who has also met Frank Lorenzo did NOT miss a chance to talk shit about him. Which, tbh, he kinda deserves.
This entire review has been hidden because of spoilers.
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October 16, 2023This history of US airlines from deregulation through the early 1990's was overwhelming with information and corporate maneuvering at times, but interesting to read. The corporate maneuvering is the primary part of the book - fighting and undercutting each other, and strongarming labor unions to reduce costs. The cast of characters is surprisingly small and rotating, as executives go from company to company - and with their talents and surprising drive on a merry-go-round like that, I suppose it's no surprise that the airlines ended up in a red queen's race of growth and cost-cutting and fare-cutting.
Yes, as capitalist theory would say, the winner in this is the customers. We get cheaper airfare; we get routes running where they satisfy the most people; we get average people now able to regularly fly! Other amenities are cut so we can have more of those more-important things. Reading this history, I rejoice in that - even as I shed a metaphorical tear for the smaller airlines and the airline workers who lost out in the race.
Yes, as capitalist theory would say, the winner in this is the customers. We get cheaper airfare; we get routes running where they satisfy the most people; we get average people now able to regularly fly! Other amenities are cut so we can have more of those more-important things. Reading this history, I rejoice in that - even as I shed a metaphorical tear for the smaller airlines and the airline workers who lost out in the race.
October 30, 2022
A true page-turner. Petzinger told an intriguing story of the evolution of the airline industry from its birth. While we take all practices in the airline industry (e.g. electronic reservation system, cheap airlines, yield management, attractive flight attendants) for granted nowadays, they all represent major innovations in the industry over its development in the past century. I enjoy learning about the airline industry's interweaving history with hotel chains (intercontinental) and car rentals, with their business collaborations, executive interchanges, and M&A.
If I have to be picky, I will say this book is focused on the U.S. airline industry (with the exception of its extensive documentation of the British Airway). I will be interested in learning about whether international markets follow a similar trajectory of development as the American market.
If I have to be picky, I will say this book is focused on the U.S. airline industry (with the exception of its extensive documentation of the British Airway). I will be interested in learning about whether international markets follow a similar trajectory of development as the American market.
June 4, 2019
Interesting read about the development of the airline industry; certainly one of the more engaging business history books I've ever read. Petzinger takes a special interest in labor negotiations, I think. This book is particularly useful for learning the "origins" of different realities of travel, like "Where did the online reservation systems come from?" and "Whatever happened to Pan Am?" and "Why does Southwest fly out of Dallas Love?"
It's long, though, and chock full of anecdotes moreso than a consistent history. Still worthwhile if you're interested in the field.
It's long, though, and chock full of anecdotes moreso than a consistent history. Still worthwhile if you're interested in the field.
March 14, 2020
What a great book of US airline histories.
Whenever I travel in the future, it will definitely remind me of vivid history of the airline depicted in this book.
Lots of airline names vanished as ashes in the long river of history, what remains live carry all the legacies.
The book is finished in one of the bigger crisis of the travel industry ever in history. We will all conquer Covid-19 for sure. Cannot wait for the next round of facilitating business stories and miracles in modern airline industry.
Whenever I travel in the future, it will definitely remind me of vivid history of the airline depicted in this book.
Lots of airline names vanished as ashes in the long river of history, what remains live carry all the legacies.
The book is finished in one of the bigger crisis of the travel industry ever in history. We will all conquer Covid-19 for sure. Cannot wait for the next round of facilitating business stories and miracles in modern airline industry.
January 22, 2022
This was a fascinating history of the airline industry, which was shaped so heavily by a handful of men hungry to win. While the underlying history was interesting, it felt like this book was written frenetically. It was really difficult to keep up with and remember the tens, if not hundreds, of main actors. Pitzinger changed his characterization and judgments of people frequently (quickly jumping between assessments of a person as the best operator to extremely careless and lucky), includes a lot of unnecessary anecdotes, and leaves a lot of storylines hanging.
September 1, 2018
This was a disappointing read (based on how great the reviews are and how interesting the subject matter is).
This book failed to highlight many fascinating components of the airline industry (and great stories from the past); the stories selected to be discussed in great detail seemed arbitrary, there is way too large of a focus on labour disputes, and the book lacks a meaningful discussion on the economics of the industry.
This book failed to highlight many fascinating components of the airline industry (and great stories from the past); the stories selected to be discussed in great detail seemed arbitrary, there is way too large of a focus on labour disputes, and the book lacks a meaningful discussion on the economics of the industry.
April 28, 2020
What an EXQUISITELY written book. Must read for any aviation enthusiast. A thorough and enrapturing story of the birth of airline industry, from the point of view of the Executives and Presidents playing the game of musical chairs with airlines in America.
Learnt so much about the amazing stories behind the invention of yield management, reservation systems like Sabre and the evolution of the airline industry.
Learnt so much about the amazing stories behind the invention of yield management, reservation systems like Sabre and the evolution of the airline industry.
June 25, 2018
Really in-depth book about how the airline industry came to be. A lot of it starts off at the advent of deregulation.
Fascinating if you're into business history and why there are only a handful of major airlines right now. Really brings out the personalities in the story.
Might be boring if you don't care for business history.
Fascinating if you're into business history and why there are only a handful of major airlines right now. Really brings out the personalities in the story.
Might be boring if you don't care for business history.
April 21, 2023
A great book about the rise of the American airline business and the men who led the way. A very enjoyable read. The only reason for four stars instead of five: I would have liked to have seen more on USAir and Delta.
I’d love to see a follow up covering what’s happened since 1996. There’s been nearly ad much shakeup since then as there was from 1978-1996.
I’d love to see a follow up covering what’s happened since 1996. There’s been nearly ad much shakeup since then as there was from 1978-1996.
May 14, 2023
Wow. What a great book. I started this on the plane to athens and this book did not disappoint.
This book covered the basic history of airline, then jumps into how the airline industry existed pre and post regulation. You get an in-depth look at the industry players, which there were so many more thought I thought, and the people who run the airlines.
Highly recommended read.
This book covered the basic history of airline, then jumps into how the airline industry existed pre and post regulation. You get an in-depth look at the industry players, which there were so many more thought I thought, and the people who run the airlines.
Highly recommended read.
August 18, 2023
Putting this on the shelf of “I actually liked the assigned reading.” It was so dramatic and nuts… there was literal blood on the hands of executives. Merger this merger that, lawsuits, suicide, broken molars- all for the passengers you fought for to bitch and moan about delays. Love it when bitches are crazy like that!
March 31, 2019
Aunque hay momentos que se hace un poco pesado, el libro es la biblia de la aviación comercial. Desde los duros inicios hasta los años 90, quiebras, huelgas, traiciones, egos... Un clásico único para cualquier amante de la aviación comercial.
April 5, 2021
Well, I found out some interesting stuff (for example, how fierce competition brought about change in how airlines packaged their services). Ugh, but to find it out through a soap opera or rich and ambitious men who easily emptied their employees' pockets insted of their own... :facepalm:
July 26, 2021
Should have been called the life and times of Frank Lorenzo, and some of the other things that happened in the airline industry at the same time.
The book has way too much about a failed entrepreneur, and not enough about the others.
The book has way too much about a failed entrepreneur, and not enough about the others.
June 21, 2023
I wasn't sure about reading this book at this particular time. I just finished a book about the late Braniff Airlines, so I was a little hesitant to jump into yet another tome about 1980's aviation. But here, I'm glad I did read this book.
August 7, 2023
Definitely recommended if you are into airlines industry and want to learn more about challenges of running an airline. Easy to read with lots of interesting details and insights. A bit outdated though. The story ends in mid 90s.
August 18, 2017
Excellent history of commercial aviation. I knew about some of the messups having worked in aviation after the fallout of deregulation.
October 31, 2017
Really good book on the growth of the US commercial aviation market, including the colorful characters who made it happen. Brutally competitive, capital intensive business
Displaying 1 - 30 of 58 reviews