The previous research work has shed light on the past journals and the areas that are highlighted to make people know about the airline industries, especially the British airways. The journal Airline marketing and management by Stephen Shaw has focused on the marketing plan for the British airways and stated the factors responsible for the attraction towards this brand. The journal has recognized different campaign schemes for pricing, deregulation, revenue management system and the pricing initiatives. The financial estimation has also been brought forth that is mentioned to be £ 10 million. However, King (2011, p.5) mentioned that the journal did not focus on the financial marketing and the risk associated with it. The financial risk of the British airways are not identified rather the budget and their gross income is observed.
In addition to this, the journal changing airline culture by Joseph E. Shackford has mentioned how the structure of the British Airways has changed in the past 10 years and how the managerial responsibility is directed towards the management control. The management control involves the human resource management, financial management, marketing management and other team who are focused to bring a change in the culture of the organization. In context to this journal, MacKenzie (2014, p.111) observed that though the journal has mentioned the managerial control over the finance and the budget, but it has limited its research in the risk management and the economic application used to minimize the risk.
Apart from this, the journal Streamlining Airline Financial Processes by Frost and Sullivan focused on the strategic priority that is important to manage the financial process. The strategic choices are made available commercially and operationally as the focus is primarily made on the customer satisfaction and loyalty. The journal further discussed about the financial risk factors like the revenue leakage, fraud, auditing and compliance, cost and complexity of the payment acceptance. But, in the contrary to this Swift (2012, p.170) pointed out that the journal failed to address the risk management controls for the financial risk that arise in the financial process. Moreover, the strategies used to control the financial risk are not mentioned in the journal.
The journal, Enterprise risk management in Airline Industry by Anna Misiura has highlighted the operational risk management and the business environment that is needed for the risk management practices. Moreover, the study also gave a brief hint about the trends and the new directions used in the airline risk management. The journal also stated the ways in which the risk management disciplines are evolved and adopted with the present business environment of the industry. Seeking (2013, p.176) argued with the fact that the journal has limited its boundaries only to the evolved risk and discipline associated with the risk management approaches. The study has failed to highlight the actions involve to control the risk of the airline industry. Prior to the actions, the problem in the financial processing need to be analysed and identified that is not mentioned in the journal.