This third edition of Straight and Level thoroughly updates the previous edition with extensive comments on recent industry developments and emerging business models. The discussion is illustrated by current examples drawn from all sectors of the industry and every region of the world. Anyone who wants to gain a deeper understanding of airline economics at a practical level and an insight into the reasons for its financial volatility should find the book of interest.
Any textbook that's over 500 pages will inevitably drag for the reader at some point, but in general I found this to be information-dense whilst not sacrificing readability too much. There is rather a lot in here, much of which can be skimmed in the search for gems - which do appear, though more often in the early parts of the book that discuss competition. In any case, Holloway neatly summarises the competitive history of airlines and selects some defensive moats - operating at slot-constrained airports or being the lowest cost - none of which are that difficult for prospective investors to work out.