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Competitive Interaction between Airports, Airlines and High-Speed Rail

image of Competitive Interaction between Airports, Airlines and High-Speed Rail
How should airports be regulated to contain market power? This round table proceedings first examines whether they need to be regulated at all. It concludes that because regulation is inevitably imperfect and costly, policy makers should establish conditions for competition to emerge between airports in preference to comprehensive regulation, whenever possible. Economic regulation is sometimes necessary, such as when airports are heavily congested. The proceedings determines which approaches are likely to work best and also assesses strategies for managing greenhouse gas emissions.  It finds that although including aviation in an open emission trading scheme could help mitigate emissions efficiently across the economy, it should not be expected to produce major cuts in CO2-emissions in aviation itself. Finally the proceedings identifies the economic conditions under which high-speed rail can provide a competitive substitute for aviation, revealing the limited relevance of rail to reducing greenhouse gas emissions from this part of the transport market.

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The airport industry in a competitive environment: A United Kingdom Perspective

International Transport Forum

The paper provides an overview of UK airports from the perspective of a business enterprise. Its object is to show, through the medium of the UK industry, that effective competition between airports is possible and that a competitive industry can be financially viable. In the UK case, viability is achieved at all levels of output, thus refuting the suggestion that high fixed costs are a significant barrier to positive returns, particularly for airports of limited output. This viable industry operates for the most part in the private sector of the economy, and it has evolved without the imposition of a strategic plan. It is competition that has driven the dynamics of the industry; an industry that in its symbiotic relationship with the airline industry has been an economic success story, helping to produce strong economic growth in the service sector of the UK economy.

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