Abstract
This chapter is a exploration of the strategic responses of major European carriers to the Third Package of European air transport liberalization, introduced in 1993. The Third Package allowed airlines to purchase a majority share of another European Union (EU) carrier and also to set up subsidiaries or separate carriers in other EU countries. The chapter shows that the social needs for risk management have been growing due to environmental change. It explains the need to take measures for emergency management in the case of risk actualization and other measures based on business continuity planning. In the integrated risk management system, it is important to place priorities on the risks analyzed and assessed and conduct day-to-day control by making plans for effective response implementation. The airline industry is a typical processing industry, which is able to operate only after making various prior investments such as purchases of aircrafts, securing flight crews, and securing airport facilities.
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