Why Airships?

They're the only air unit that can spot Submarines, which makes them handy to have around in the late game (and I never upgrade all my Airships for that reason).

They provide some free damage to the top defender without being overpowering the way they would be if they could bombard city defenses or cause collateral damage. Once your opponent has Fighters, they're toast. I call that relatively balanced. It's not as if they're Praetorians or vanilla Cossacks and just butcher everything in their path.
 
Air ships are great for weakening enemy stack, particularly shipping, reducign your losses on attack. But as they only weaken by 25% max, they are certainly not overpowered and I think occurs at a good time in the game for balance.
 
25% weakness = temporary pinch-shock-charge-cover-ambush for all your units, for free.

And it has a pretty big range.
 
Some people seem to think that my problem with Airships is that they're unbalanced. That wasn't the argument: I think they're inaccurate and not necessary to rectify any unbalance.

However, if that's the way you want to play it: yes, they are unbalanced. With a little effort you can get them LONG before Railroads. So you have quickly concentrated siege power at possibly 30-50 turns before any other method. Sure, you can only amass 4 in a city, but that still gives a good edge. If you combine them with cavalry you can mop up most wandering units in a line of battle with no trouble. Your cannons (or even trebs!) don't need to do suicide attacks anymore... they can concern themselves with reducing defense and actually surviving their attacks. Wounded units are always easier to wound more, even if it's "just" 20%.

Airships come at a time when defense is still very strong. If you're up against a protective leader, his longbows or musketmen in cities are the most intimidating forces around. 4 Airships per city can easily take care of that.
 
It they had made a observation baloon with Physics ( say , kind of extending the scouting functions beyond the Explorer ) and a airship in the molds we have now with atleast Steam power ( or Combustion ) + Physics , things would be far more balanced, but they choosed to mesh the two in on unit :/

@ Ray Patterson

I think that balloons could in game serve the function they had in the XIX century wars: observation ... In fact, some of the atributes of the airship as it is indicate that was the original idea, but then they instead of putting a balloon, they putted the Hindenberg :/
 
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