This chapter explores the complex ecosystem that underpins the air transport industry, emphasizing the interdependence among airlines, airports, air navigation service providers, regulators, manufacturers, and other actors. It highlights the importance of international institutions such as ICAO and IATA in maintaining global standards and coordination. The chapter also provides a detailed overview of the industry’s economic regulation, including slot allocation, public service obligations, and state aid control. It underscores how regulation remains essential despite liberalization, especially for ensuring safety, fair competition, and environmental responsibility.