"What is the most important issue the airline industry is facing today?"
It is not so much a test of knowledge as a test of written communication skills. I know of people who were asked questions about subjects they had never heard of before. They "winged it" ( Q: "Explain WAAS" … A: I have never before heard of WAAS, however I can think of three potential systems that fit that particular acronym … yadda, yadda, yadda) and they got the nod based, in part, on a completely uninformed yet intelligent, well written (spelling, grammar, punctuation, handwriting, etc.) answer. However, YMMV
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Tip; use a mechanical pencil instead of a pen and practice your handwriting prior to the interview.