| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 1031165 | Journal of Air Transport Management | 2011 | 8 Pages |
Recent years have seen a global trend towards the emergence of multi-airport companies operating at a global scale. This paper employs industrial and transaction costs economics to identify the main drivers that shape the patterns of international cross-ownership structures that have emerged in the airport industry. In addition, implications for competition and competition policy are drawn.
Research highlights► This paper employs industrial and transaction costs economics to identify the main drivers shaping the international cross-ownership structures in the airport industry. ► While there has been consolidation of airports through mergers less formal arrangements are uncommon despite the ease with which even international alliances can be formed. ► Mergers largely seem to be driven by considerations of efficiency, for example relating to transfer of know-how, rather than for narrow rent seeking purposes.
