Airport Regulation Investment And Development Of Aviation

This report reviews recent experience with airport regulation on the basis of discussions at the International Transport Forum between leaders of airlines and airports together with regulators and economists.

This tour d'horizon book reviews airport regulation and competition in different regions of the world and contrasts different policy perspectives. Organized in four parts, the first three examine, in turn, Australasia, North America, and Europe, while the last section looks at the institutional reforms that have taken place in these regions. The book covers the regulation of airports, and competition in different regions, as well as privatization policy, the interaction between airports and airlines, and regional economic impacts. It also examines the linkages between governance structures and forms of regulation. The book's global sweep embraces all the large aviation markets, bringing together the ideas and challenges of academic economists, airlines, airport managers, consultants and government regulators. As well as looking at different methods, degrees and paradigms of regulation it also spells out the stress-points, in a way that makes essential reading for airport operators, airline operations staff, as well as academic economists concerned with transport studies. It also offers interesting reading and important lessons for those concerned with regulation of the utility industries such as, telecommunications, water and power generation and distribution - where infrastructure can be subject to natural monopoly characteristics and where firms competing in downstream markets are dependent on the investment and operational strategies of the upstream infrastructure operator.

This volume examines the role that airports play in economic development and land values, the regulation and economic efficiency of airports, airport pricing and competition, and the role played by airports in influencing airline operations and networks.

Aviation Investment uniquely addresses investment appraisal methods across the key industries that make up the aviation sector, including the airports, air traffic management, airline and aircraft manufacturing - or aeronautic - industries. It is a practice-oriented book where methods are presented through realistic case studies. The emphasis is on economic appraisal, or cost-benefit analysis, in order to determine the viability of projects not only for private investors but for society as a whole. Financial (cash flow) appraisal is illustrated alongside economic appraisal, as the latter builds on the former, but also to show how economic appraisal enhances standard financial appraisal to determine the long-term sustainability of any investment. Aviation is a capital-intensive sector that is growing rapidly, with world traffic expected to double over the next 15 years or so. A great deal of economic appraisal of investment projects takes place already, as aviation is subject to government intervention through economic regulation and financial support, and as both investors and policy makers seek to understand issues such as how environmental legislation may impact the viability of investments. Both economic growth and welfare go hand in hand with sound investment decisions, particularly regarding sectors such as aviation where investments are large and almost invariably debt-financed. Aviation Investment offers all aviation sub-sectors a single-source reference, bringing together the theoretical background of the economic appraisal literature and aviation investment in practice. It is written in a style that is accessible to non-academic professionals, using formulae only where strictly necessary to enable practical applications, and benefits from the substantial practical experience of the author.

Over the past thirty years, airports within the EU – including nearly a hundred newly built or rebuilt during that time – have undergone a major economic transformation. From mere infrastructure providers, airports have become diversified and complex commercial enterprises in competition with each other. This is the first and only book thus far to deal with the legal issues surrounding this important development, focusing on the impact of EU Directive 12/2009 on airport charges. Examining the use of airport infrastructure, the growing competition among airports, and the relations between airlines and airports, the author, a leading aviation law practitioner, covers such issues and topics as the following: - types of charges – landing, passenger, aircraft parking; - pricing factors determining airport charges; - vertical contractual relations between airports and airlines; - airport market power and dominance; - issues of consultation and transparency; - ability of airlines and passengers to switch to alternative airports; - application of state aid rules; - security charges; - environmental charges and schemes; and - price discrimination and differentiation. The presentation encompasses a critical analysis of the findings of case law, both international and European, on airport charges in the context of the new trend of airports and airlines concluding vertical agreements. As an examination of the economic regulation of EU airports due to the liberalization process, structural changes in the ownership status of many EU airports, and the emergence of new airline business models (such as low-cost carriers), this book, the only one of its kind, will quickly become indispensable to practitioners, policymakers, and academics in aviation law.

"Although general aviation airports have historically been funded by federal, state, and local entities, the private sector is increasingly playing a larger role. This involvement has ranged on a continuum from service and management contracts to singular projects at airports that involve leasing mechanisms to long-term leases and the whole-scale private development of general aviation airports. In an era of declining resources and increasingly scrutinized public expenditures, private-sector involvement is and will likely need to continue to play a larger role to fill an ongoing and increasing gap between the existing infrastructure and the infrastructure that is needed. Airport Cooperative Research Program (ACRP) Synthesis 94: Attracting Investment at General Aviation Airports Through Public-Private Partnerships explore public-private partnerships (PPPs) at general aviation airports in the United States over the past five years. For the purpose of the synthesis, these PPPs are defined by the World Bank as long-term contracts between a private party and a government entity for providing a public asset or service, in which the private party bears significant risk and management responsibility, and remuneration is linked to performance." -- Publisher's website.