[1] Such an airline focuses on operating a network of air services, and outsourcing non-core activities to other organizations.
[3][4] The term is often used to describe travel companies and ticket agencies that market themselves as airlines, but do not possess an air operator's certificate and contract with one or more certificated operators to fly and maintain aircraft, often under an air charter or wet lease arrangement.
Although operated by others from a regulatory standpoint, the aircraft may display the virtual airline's livery, and may be owned or leased by that company.
During the hyper-competitive years immediately following deregulation, major airlines found it increasingly unprofitable to compete against start-up carriers on many routes they currently served.
[citation needed] Media related to Virtual airlines (economics) at Wikimedia Commons