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MSC RISK MANAGEMENT7
aviation development as the key factor dependent on technological and mechanical advancement.
However the latest researchers have proposed that the development of aviation industries mainly
depended on the approach the aviation industry takes in handling the customer and the service in
terms of safety, ease and convenience.
Also, with the improvement in the economic conditions of the country, the extent of
aviation players increase in the industry, however it is found that the new entrants in aviation
industry are posited to more vulnerabilities in terms of safety and security as compared to old
one. The main reason found is the development of strong mechanism and technical expertise that
allows the old aviation players to face the risky and emergency moments with strong will and
mental capability.
In addition, the new airlines are more exposed to threat of failure due to the inability to
manage the pressure time and develop a well-structured mechanism to align the in-ground and
out ground activities between the pilot and the staff. (McCullagh, 2006).
Economic Reactive approach to Aviation Safety
Though over the past few years the aviation industry has improved in terms of safety and
convenience giving many players the chance to enter the industry, yet these improvements have
been unevenly distributed among different countries and regions. (Barnett, 2010).Many
researchers have tried to develop the relation between the aviation accidents and the airlines
carriers of different countries, and the results have revealed that the amount of financial
investment put on the safety measure and mechanism of aviation industry greatly shapes the
aviation industry and the extent of accidents. Further it revealed that, the economic condition of
the country has direct impact o n how much the government and the businesses invests in the