The professor is of course talking about Management when it comes to inefficiencies, industrial fat (literal fat too), blackmail. To this we could add: lethargy, selfishness, cluelessness, cooking the books, miscommunication, poor decision making, and a myriad of similarly descriptive words and phrases.
...all while paying themselves world leading airline management salaries and claiming the apocolypse wiill instantly happen if their workers get paid more than 3%...