Air transport and airports in particular are undergoing a period of major changes. The short time forecasts highlight a decrease in air passenger demand at EU level while charter traffic and air cargo have already decreased. The causes are likely to be found in the downturn of global economy which reduces the willingness to pay of potential passengers and in the complex geopolitical scenario which, in the 2011, has determined a strong reduction of flights to certain areas (i.e. North African countries). Moreover this scenario is likely to worsen due to the negative economic output forecasted for the short-medium period. While the demand is reducing, the air transport supply is undergoing a process of rationalization: on the one hand major carriers are merging, then in the last couples of years a general decrease in terms of number of seats offered has been observed; on the other hand low fares carriers market is more and more concentrated with few major players dominating the market. Airports are probably the air transport stakeholders who have suffered less from the liberalization and the deregulation of air transport market; however the current economic trends along with a rationalization of air transport demand could lead to deep modifications in the airport market.
Airport mergers and acquisitions: the case of Italy
GUALANDI, NICOLA;MANTECCHINI, LUCA;PAGANELLI, FILIPPO
2013
Abstract
Air transport and airports in particular are undergoing a period of major changes. The short time forecasts highlight a decrease in air passenger demand at EU level while charter traffic and air cargo have already decreased. The causes are likely to be found in the downturn of global economy which reduces the willingness to pay of potential passengers and in the complex geopolitical scenario which, in the 2011, has determined a strong reduction of flights to certain areas (i.e. North African countries). Moreover this scenario is likely to worsen due to the negative economic output forecasted for the short-medium period. While the demand is reducing, the air transport supply is undergoing a process of rationalization: on the one hand major carriers are merging, then in the last couples of years a general decrease in terms of number of seats offered has been observed; on the other hand low fares carriers market is more and more concentrated with few major players dominating the market. Airports are probably the air transport stakeholders who have suffered less from the liberalization and the deregulation of air transport market; however the current economic trends along with a rationalization of air transport demand could lead to deep modifications in the airport market.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
