Variances are insufficient performance metrics since they represent past historical/sunk costs; promote short-term thinking; represent mainly lag indicators; do not shed light on the source of the problem or how to correct issues; compare to budgets that may not have been appropriately set; are a one-dimensional view. The following articles provide some insight into the airline industry and the balanced scorecard.
●    “The Key To Management: A Balanced Scorecard” Forbes, https://www.forbes.com/2008/04/29/small-business-management-ent-mange-cx_gm_0429genemarksmetric.html#71046a705e17
●    “Balanced scorecard based performance measurement of European airlines using a hybrid multicriteria decision making approach under the fuzzy environment,” Hasan Dincer, Ümit Hacıoğlu, and Serhat Yüksel (Aug 2017), Journal of Air Transport Management, https://www.sciencedirect.com/science/article/abs/pii/S0969699717300091
●    “Here’s Why So Many Planes Are Still Flying, Nearly Empty,” Intelligencer, https://nymag.com/intelligencer/2020/04/heres-why-so-many-planes-are-still-flying-nearly-empty.html?utm_source=pocket-newtab
●    “Air travel faces continued turbulence,” BBC, https://www.bbc.com/news/uk-scotland-scotland-business-52212510
After reading the referenced materials for the balanced scorecard and airlines industry and in light of the retooling that will be needed when we emerge from the current lockdown as well as the discussions of the costs of quality:

a. Create a revised balanced scorecard for a hypothetical airline.

b. List and discuss appropriate costs of quality (prevention, appraisal, internal failure, and external failure) for your hypothetical airline.

c. Discuss other information you would add to the analysis and what information you would visually report.