The evolution of the airline industry since the deregulation of the airline industry the intensity of the debate over its controversial issues has intensified economic regulation provided a certain stability for both passengers and the industry fares were predictable and uniform carriers earnings fluctuated but bankruptcies were averted through mergers sanctioned by the civil aeronautics board and air safety steadily improved deregulation changed everything a new fare structure took . Morrison and winston maintain that although the airline industry has not reached long run equilibrium its evolution is proceeding in a positive direction one that will preserve and possibly. They also develop a basis for understanding the industrys evolution and how the industry will eventually adapt to the unregulated economic environmentmorrison and winston maintain that although the airline industry has not reached long run equilibrium its evolution is proceeding in a positive direction one that will preserve and possibly enhance the benefits of deregulation to travelers . Morrison and winston maintain that although the airline industry has not reached long run equilibrium its evolution is proceeding in a positive direction one that will preserve and possibly enhance the benefits of deregulation to travelers and carriers they conclude that the federal governments primary policy objective should be to expand the benefits from unregulated market forces to international travel