Lasting Impact On The Industry
While Laker Airways failed, low fares and buying meals on board are becoming popular. Similarly, buying tickets on the day of travel has been adopted by airline shuttles plying the United States' Northeast corridor and on the Eastern shores of Australia.
Laker Airways's most important legacy was that pioneering low-fare services across the Atlantic helped pave the way for low-cost airlines such as EasyJet and Ryanair, liberating the industry from the regulatory straitjacket IATA had imposed for decades in collusion with governments. These governments invariably were sole or majority owners of most IATA airlines. This was Laker Airways's greatest contribution to its industry's future development.
Sir Freddie Laker became an inspiration and cautionary tale for Sir Richard Branson and Virgin Atlantic Airways, when they set about deciding their long-term strategy.
Read more about this topic: Laker Airways
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