Background:

Aviation industry is a symbol of comprehensive national power and an extremely important part of the national defense. It is also a significant guarantee for national security and an essential support for the development of economic and society. In the entire aviation industry, civil aviation is made up of all types of aviation activities using aircraft except military applications, which includes defense, police and customs, and the civil aviation includes commercial aviation and general aviation. In recent years, the rapid development of civil aviation plays an increasingly important role in the aviation industry.

In terms of globalization, the aviation industry is mainly concentrated in the United States, Europe, Canada, Australia and some other developed regions. Along with the rapid development of the global economy, the enthusiasm for developing aviation industry of many new industrialized countries has also been greatly inspired. A number of high-end manufacturing, including the aviation industry, are shifting from developed countries to developing countries, to meet the global market demand, many developed countries and developing countries began the cooperation. The economic turmoil and financial crisis of the current world has caused a great shock on aviation industry, although the condition is getting improved, it is still very difficult to predict what the future will be. As one of the leaders of the aviation industry all over the world, the market of aviation industry in the United States has been greatly affected in recent years. The fallen price of tickets, rising price of oil, as well as anti-monopoly policy, all have negative impacts on the civil aviation industry in America.

Merger integration is trend of the development of international aviation industry in recent years. There are many examples: In Europe, Air France and KLM Royal Dutch Airlines were merged in 2003; Lufthansa purchased Swiss Air in 2005, and later purchased the Austrian Airlines; British Airways and Iberia Airlines merged in 2010 . After a series of mergers and reorganizations, the market is full of vitality and competitive power. In the United States in recent years, the operation of civil aviation industry has become much more difficult and many airline companies are seeking to break through this condition by mergers and acquisitions. In 2005, US Airways merged America West Airlines; Delta Air Lines purchased Northwest Airlines in 2008; two years later, the United Airlines and Continental Airlines were merged and turned into the United Continental Holdings incorporated; in 2011, Southwest Airlines purchased the AirTran and after two years, American Airlines merged US Airways. After the mergers and reorganizations, these companies’ operating performance begins to rise out of recession, but whether the specific results really are optimistic? This dissertation will make analysis and judgment.