2006
DOI: 10.1080/00036840500367930
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Evaluating the long-run impacts of the 9/11 terrorist attacks on US domestic airline travel

Abstract: Although the US airline industry began 2001 with 24 consecutive profitable quarters, including net profits in 2000 totaling $7.9 billion, the impact of the 9/11 event on the industry was substantial. Whereas the recession that began in early 2001 signaled the end of profitability, the 9/11 terrorist attacks pushed the industry into financial crisis after air travel dropped 20% over the September-December 2001 period compared to the same period in 2000. Given the decline in domestic air travel, an important que… Show more

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Cited by 68 publications
(50 citation statements)
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“…Blunk et al . come to a similar conclusion on reductions in air travel . Ito and Lee extend their analysis to international airline demand .…”
Section: Literature Reviewmentioning
confidence: 56%
“…Blunk et al . come to a similar conclusion on reductions in air travel . Ito and Lee extend their analysis to international airline demand .…”
Section: Literature Reviewmentioning
confidence: 56%
“…The two structural breaks identified for the US are related to the 9/11 attacks and the financial crisis. The negative impact of the 9/11 attacks on US tourism and air travel is highlighted by Goodrich (2002) and Blunk, Clark, and McGibany (2006). The recent economic and financial crisis seems to explain the structural break in 2009, as stated by Ritchie, Molinar, and Frechtling (2010).…”
Section: Other Countries and Madeira Island Panelmentioning
confidence: 99%
“…A key question is why negligible changes in objective risk substantially alter individual choices. For instance, objectively small terrorism and health risks have large impacts on commerce (Abadie and Gardeazabal, 2003;Blunk et al, 2006;Kraipornsak, 2010). Becker and Rubinstein (2011) find that Israeli tourists respond more strongly to terrorism risk than local residents, and suggest that people who regularly confront risk may invest in the ability to surmount an emotional response.…”
Section: Introductionmentioning
confidence: 99%