Barry Humphreys - Böcker

Over the last twenty years, airports and airlines have been privatised in a number of countries. However, many of the fundamental functions of airports remain outside the market process. In particular, the allocation of take-off and landing slots is largely determined by custom and practice and by regulation. The pricing of such slots does not follow economically rational principles. The current, arbitrary system of allocating airport slots can hinder competition and prevent slots being used by airlines that value them most. The authors suggest how a market in airport slots can be developed to address these problems. They are careful to take account of competition issues and other special features of the industry in developing their proposals. Nevertheless, the authors agree on the need to assign property rights to airport slots and allow slots to be traded. Only then can there be a more rational allocation of scarce airport take-off and landing slots.

The regulation of modern civil aviation can be traced back to the later years of the Second World War. An intense debate about the future regulatory regime resulted in a compromise which to this day essentially dictates the structure of the global airline industry. Further progress towards ‘normalising’ the industry appears to be slowing down, and perhaps even going into reverse. Without an understanding of the development of regulation, it is not possible to understand fully the industry’s current problems and how they might be resolved.Many books have been written about the development of international air transport, covering deregulation, privatisation, the emergence of new business models among other things, but few if any have taken a broad view of the trends which have determined the industry’s current structure. The Regulation of Air Transport charts the development of aviation from the end of the Second World War to the present day, following the key trends and disruptive forces. It provides an overview of what has determined the industry’s current structure, the problems still facing the industry and the ways in which it could develop in the future.This wide-ranging study is important reading for both professionals and academics within the aviation field, as well as anyone interested in the broader development of economic regulation.