Assignment Details In this assignment, you will duplicate a portion of airline economics research conducted by Klophaus, Conradly, 81 Fichert (2012) who compare the business models of several low-cost carriers to the archetypal low-cost carrier business model originally developed by Southwest Airlines. They find that considerable deviation from this model concluding that some airlines have incorporated aspects of the full-service, network carrier (FSNC) business model making these carriers a hybrid of the two models. You will choose a low-cost carrier (LCC) and conduct a similar analysis. From your research, you will determine if your selected airline closely follows the archetypal LCC business model or is more of a hybrid carrier incorporating aspects of both the LCC and FSNC business models. Klophaus et al. (2012) utilize several criteria that characterize the LCC business model. Table 1 draws from their research but has been revised for this assignment. As with every academic paper, begin with an introduction that tells your reader the subject of the paper, explicitly states the objective, and lists the topics covered. Next, concisely compare and contrast LG: and FSNC business models. You may wish to present your findings in a table, but provide sufficient information so that your reader can understand the comparison. Then, for each of the criteria in Table 1, assess your airline's adherence. Rate the airline on a scale of 1 to 3 where 1 is strict adherence to the criteria and 3 indicates the adoption of the FSNC model. Cite the sources of all information and data used in the analysis. Summarize your findings in a form similar to Table 2 in Klophaus et al (2012) so that your reader can easily see the results of your analysis. Finally, use the data in the Airline Monitor: Traffic, Fleet 81 Financial Data for 82 Leading Airlines of the World (Airline Monitor is a Hunt Library research database) to compare your chosen airline with a competing FSN C. For example, ifyou chose Ryanair, British Airways and Lufthansa are competing network carriers. SEE BELOW Compare the CASM. The LCC should have significantly lower CASM (otherwise it is not a low-cost carrier). Compare yield, a measure of average price, to determine whether the airline offers lower prices to compete with the FSNC. Other statistics that can be used in the comparison are load factor, utilization, and trip length. If you wish to compare by size or scale of the airlines, ASM, RPM, and departures are