The question is answered by having a look at factors which affect passenger experiences.
All passengers hate delays, people can miss important moments like meetings, gatherings etc. due to a delay. Reduce the delays, improve the consistency in operations and the passengers will be happier.
The aircraft itself has a lot to do with the experience. My personal experience onboard A320s has been bad, a GoAir jet had abnormal vibrations through the flight whereas an IndiGo A320 was too loud to be comfortable. The airline has to make sure that the aircraft are in the best condition and don’t cause any problems during the operations.
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An airline’s staff is the face which a passenger sees. Make sure they are well trained, happy to help and capable of solving problems and the passenger will love the airline.
The management has to make sure that operations are proper and the passengers don’t face any problems during the flights at all. They should have contingency plans for all possible scenarios from delays to crashes.
Being a foodie, I love airlines which offer quality meals at reasonable costs during flights or charge it in the ticket itself. Its always good to have a snack during flights.