This short note is intended as a measure of thanks to Alec Young for his encouragement and supervision of the author's PhD studies.

International air transport is a vital industry, integral to world trade, commerce and tourism. This industry has contributed substantially not only to worldwide economic growth, but also to political and sociological progress. However, in recent years the industry has fallen into chaos, to the point that many airlines find themselves either subject to unstable situations, or threatened by bankruptcies, or, in the case of state-owned airlines, in need of financial support from their governments. Competitive behaviour sometimes occurs on an under-the-table basis, interline co-operation has been deteriorating, and a clear international policy whose guidelines are accepted by everyone in the industry is absent. If the international airline industry is to continue to play a vital and dynamic role in contributing to the progress and prosperity of so many nations, then it is essential to adopt and implement policies aimed at eliminating the chaos in the industry, facilitating its healthy growth and stability, and developing international collaboration for the common good.