MBA: Strategic Management Assignment IntroductionMarkets differ in various ways, including the degree of concentration and competitiveness, a fact that is reflected in the concept of "market structure". Economists' models link the structural characteristics of a market to the behavior of firms in that market and subsequently to their performance. A key question therefore is how much a company's strategic decisions are influenced by the structure of the market in which it operates. A detailed examination of the changing nature of the transatlantic long-haul airline market needs to be undertaken. The market you will investigate includes only the international passenger market (i.e. excluding the movement of cargo by air) and will require you to discuss the existing market structure, examine the changing external context and consider the emerging strategy of airline operators in this context. sector.A recent article is attached for your information; “Zoom to Gloom,” which provides an example of the current turbulent environment for the industrial sector. Try all four of the following activities and present your results in the form of a report (3,000-4,000 words) divided into appropriate sections. Your report should also contain an executive summary (250 words) and a bibliography. Further details on the procedure you are required to follow are set out below. You may also find the attached article helpful in providing background information on recent developments.Tasks1. Having examined the recent turbulent environment in the transatlantic long-haul sector, it is necessary to undertake a comprehensive examination of the macroeconomic business environment, using appropriate analytical tools that… half of the document… major Canadian and British cities plus Paris. Zoom Airlines Ltd is established at Gatwick for US-UK routes. 2006 The Boyle brothers strike a £5.7m deal with the Bank of Scotland Growth Equity to open long-haul routes from London to the US, Mexico and Bermuda. 2007 As revealed on Sunday in Scotland, Zoom management asks brokers Collins Stewart and Panmure Gordon to explore the possibility of a flotation. The plan is for the initial price to be around £85 million. January 2008 In early January, oil surpasses the $100 per barrel mark, driven by the collapse of the dollar, geopolitical instability and concerns about the winter fuel supply crisis. The price of aviation fuel is rising dramatically. August 28, 2008 Zoom Airlines declares bankruptcy, grounds planes hit by skyrocketing fuel costs and cancels all flights, leaving hundreds of passengers stranded at airports.