Regional Airlines are airlines that operate regional aircraft to provide passenger air service to communities without sufficient demand to attract mainline service. There are three ways for a regional airline to do business.
Before starting a Regional Airline Business Plan one must be able to answer some of the basic questions
• What void will my business fill?
• What services or products will you sell?
• What you think is practical, and will it fill a need?
• Who is my competition?
• How will you differentiate your company from what is already out there?
• Do you plan to use debt capital or raise investment? If so, how much and what type?
• How much would it cost to get started?
• Can you deliver a better quality service?
• Can you create a demand for my business?
Market evaluation is must as it provides the basic data that will determine if and where you can successfully sell your product or service. The process involves defining your goals, analyze your competition and your customer base. The information collected can help you, if necessary, adapt your product or service to better meet customer needs.