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A ticket is generally only good on the airline for which it was purchased. However, an airline can endorse the ticket, so that it may be accepted by other airlines, sometimes on standby basis or with a confirmed seat. Usually the ticket is for a specific flight. It is also possible to purchase an 'open' ticket, which allows travel on any flight between the destinations listed on the ticket. The cost for doing this is greater than a ticket for a specific flight. Some tickets are refundable. However, the lower cost tickets are usually not refundable and may carry many additional restrictions. A ticket is made up of one or more flight coupons. In the old paper ticket system, these flight coupons were the actual tickets that were used for travel. One flight coupon was used for each leg of the flight.

The carrier is represented by a standardized 2-letter code. In the example above, Thai Airways is TG. The departure and destination cities are represented by International Air Transport Association airport codes. In the example above, Munich is MUC and Bangkok is BKK. The International Air Transport Association is the standard setting organization.

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Airline
An airline provides air transport services for passengers and/or freight. Airlines lease or own their aircraft with which to supply these services and may form partnerships or alliances with other airlines for mutual benefit. Generally, airline companies are recognized with an air operating certificate or license issued by a governmental aviation body.

National
Airlines vary from those with a single aircraft carrying mail or cargo, through full-service international airlines operating hundreds of aircraft. Airline services can be categorized as being intercontinental, intra-continental, domestic, regional, or international, and may be operated as scheduled services or charters.

Many countries have national airlines that the government owns and operates. Fully private airlines are subject to a great deal of government regulation for economic, political, and safety concerns. For instance, governments often intervene to halt airline labor actions in order to protect the free flow of people, communications, and goods between different regions without compromising safety.

International

Groups such as the International Civil Aviation Organization establish worldwide standards for safety and other vital concerns. Most international air traffic is regulated by bilateral agreements between countries, which designate specific carriers to operate on specific routes. The model of such an agreement was the Bermuda Agreement between the US and UK following World War II, which designated airports to be used for transatlantic flights and gave each government the authority to nominate carriers to operate routes.

Ticket revenue

Airlines assign prices to their services in an attempt to maximize profitability. The pricing of airline tickets has become increasingly complicated over the years and is now largely determined by computerized yield management systems.



















































































































































































































































































































































































































































































The extent of these pricing phenomena is strongest in "legacy" carriers. In contrast, low fare carriers usually offer preannounced and simplified price structure, and sometimes quote prices for each leg of a trip separately.