Wilfred S. Manuela Jr., Asian Institute of Management, Makati City, Philippines Mark Friesen, QUINTA Consulting, Frankfurt, Germany

Size: px
Start display at page:

Download "Wilfred S. Manuela Jr., Asian Institute of Management, Makati City, Philippines Mark Friesen, QUINTA Consulting, Frankfurt, Germany"

Transcription

1 Wilfred S. Manuela Jr., Asian Institute of Management, Makati City, Philippines Mark Friesen, QUINTA Consulting, Frankfurt, Germany

2 Car parking facilities are a major source of commercial revenues at airports. Most studies on commercial airport revenues consider revenue sources other than car parking. Our paper analyzes the factors that determine the provision of car parking facilities at the ten largest European airports, based on passenger data, for the period

3 Our research will identify the factors that determine airport car parking revenues and the number of airport car parking spaces. Our research helps airport authorities as well as airport managers and operators optimize their car parking-related infrastructure to improve nonaviation revenues and profits, resulting in a more financially viable and profitable airport operations.

4 Commercial revenues account for some 50% of airport revenues with retail revenues being the most significant, although there is considerable variation by region and individual airports (Graham, 2009). The main drivers of airport commercial revenues per passenger include the number of transit passengers, the ratio of commercial to total airport revenues, income, the share of domestic and leisure travelers to total passengers, and the number of flights (Fuerst, Gross, and Klose, 2011). The leisure time that passengers have at their disposal inside the airport tends to increase airport commercial revenues (Castillo- Manzano, 2010).

5 Airport customers use airport parking facilities infrequently but those who do park for long durations (Airport Cooperative Research Program Report, 2014). While airport customers pay higher parking fees, the cost of parking normally represents a small percentage of the total door-to-door travel cost (e.g., airfares, rental car charges, lodging, and other costs) and customers place high value on time and convenience (particularly those traveling on business purposes) and some have no option other than driving to, and parking at, the airport (Airport Cooperative Research Program Report, 2014).

6 We collected and estimated airport-related data from databases, airport websites, and other online sources for the period London Heathrow Airport, 75.0 million passengers (2015) Paris Charles de Gaulle Airport, 65.8 million passengers (2015) Istanbul Atatürk Airport, 61.8 million passengers (2015) Frankfurt Airport, 60.9 million passengers (2015) Amsterdam Airport Schiphol, 58.2 million passengers (2015) Adolfo Suárez Madrid Barajas Airport, 46.8 million passengers (2015) Munich Airport, 40.9 million passengers (2015) London-Gatwick Airport, 40.3 million passengers (2015) Leonardo da Vinci Fiumicino Airport, 40.2 million passengers (2015) Barcelona El Prat Airport, 39.7 million passengers (2015)

7 The econometric model consists of two equations due to the endogeneity of the car parking spaces variable in the car parking revenues equation We estimated the system of equations simultaneously using ordinary least squares Due to missing data for some airports in a number of years, the estimation results are still preliminary

8 REVENUES (xy) = β 0 + β 1 PASSENGERS (xy) + β 2 SPACES (xy) + β 3 RATE (xy) + β 4 BUS (xy) + β 5 RAIL (xy) + β 6 TAXI (xy) + β 7 DISTANCE (xy) + β 8 GDP (xy) + β 9 BUS LINES (xy) + Where for each airport x and year y, REVENUES = car parking revenues in million PASSENGER = airline passengers in million SPACES = number of car parking spaces RATE = maximum car parking rate or tariff per day in BUS = bus fare to or from the city center in RAIL = train fare to or from the city center in TAXI = taxi fare to or from the city center in DISTANCE = distance from city center in kilometers GDP = gross domestic product annual growth rate (country of airport) BUS LINES = number of bus lines to or from the airport = error term

9 SPACES (xy) = β 0 + β 1 POPULATION (xy) + β 2 OPTIONS (xy) + β 3 DISTANCE (xy) + β 4 RAIL TRAVEL (xy) + β 5 TAXI TRAVEL (xy) + β 6 BUS TRAVEL (xy) + Where for each airport x and year y, POPULATION = catchment population in million OPTIONS = number of alternative car parking facilities near the airport RAIL TRAVEL = travel time to or from the city center by train in minutes TAXI TRAVEL = travel time to or from the city center by taxi in minutes BUS TRAVEL = travel time to or from the city center by bus in minutes The other variables are as defined in the REVENUES equation

10 In the REVENUES equation, the number of passengers passing through the airport, number of car parking spaces, car parking rate or tariff, and the GDP growth rate should have a positive relationship with car parking revenues. Car parking revenues should decrease with an increase in bus fare, rail fare, and taxi fare because fare increases suggest an increase in the cost of fuel, which makes driving to the airport more expensive. The impact of the number of bus lines on car parking revenues is negative since transport network connectivity discourages people from using their cars to move around. The impact of distance of the airport from the city proper on car parking revenues is also negative since travel cost is higher and travel time is longer.

11 In the SPACES equation, the catchment population and longer travel times by bus, rail, and taxi should have a positive impact on the number of car parking spaces. Alternative parking facilities should impact airport car parking spaces negatively. The distance of the airport from the city center should impact the number of car parking spaces negatively due to the higher cost of driving as the distance increases. Airport distance may have a positive impact on car parking spaces as the number of passengers in the car increases because the cost per person of driving to the airport and parking the car decreases as family size increases. The same argument can be made for people with more luggage.

12 Dependent variable: Airport car parking revenues Coefficient Std. Error t-statistic Constant *** PASSENGERS *** SPACES *** RATE *** BUS FARE ** RAIL FARE *** TAXI FARE ** DISTANCE *** GDP BUS LINES *** Adjusted R 2 = No. of observations = 50 *** significant at the 1% level ** significant at the 5% level

13 Dependent variable: Number of airport car parking spaces Coefficient Std. Error t-statistic Constant POPULATION *** OPTIONS *** DISTANCE RAIL TRAVEL TAXI TRAVEL BUS TRAVEL Adjusted R 2 = No. of observations = 50 *** significant at the 1% level

14 The number of car parking spaces, car parking rate or tariff, and the GDP growth rate behave as expected, that is, higher values for these variables tend to increase car parking revenues. Bus and taxi fares, airport distance from the city center, and the number of bus lines serving the airport behave as expected, that is, higher values for these variables tend to decrease car parking revenues. Higher rail fares tend to increase car parking revenues while more passengers passing through the airport tend to decrease car parking revenues. These results appear to be counterintuitive.

15 Only the catchment population and parking options are statistically significant in the second equation. Catchment population behaves as expected, that is, higher values for this variable tend to increase the number of car parking spaces. The number of parking options tend to increase the number of airport car parking spaces, which appears to be counterintuitive, although the reverse sign may indicate that passengers prefer airport parking due to its proximity to the departure and arrival gates.

16 We identified and analyzed factors that impact car parking revenues and the number of car parking spaces at 10 large European airports for the period The results indicate that the number of car parking spaces, car parking tariff, higher rail fares, and the GDP growth rate tend to impact car parking revenues positively. The results also indicate that a bigger catchment population tends to increase the need for car parking at airports. Overall the results suggest car parking revenues may be improved by optimizing the number of car parking spaces available and car parking tariffs and that a reliable rail service between the airport and the city center does not necessarily impact car parking revenues negatively.

17

Airport Ownership and Management Prof. Amedeo Odoni

Airport Ownership and Management Prof. Amedeo Odoni Airport Ownership and Management Prof. Amedeo Odoni Istanbul Technical University Air Transporta4on Management M.Sc. Program Air Transporta4on Systems and Infrastructure Module 24 3 May 2014 Airport Revenues

More information

Business environment. Inspiring business environment. 3.1 Competitiveness and institutions 3.2 Economic data 3.3 Infrastructure

Business environment. Inspiring business environment. 3.1 Competitiveness and institutions 3.2 Economic data 3.3 Infrastructure Business environment 3.1 Competitiveness and institutions 3.2 Economic data 3.3 Infrastructure 3 Inspiring business environment The world s most competitive country Above average economic performances

More information

Airline network optimization. Lufthansa Consulting s approach

Airline network optimization. Lufthansa Consulting s approach Airline network optimization Lufthansa Consulting s approach A thorough market potential analysis lays the basis for Lufthansa Consulting s network optimization approach The understanding of the relevant

More information

Summary. Air transport movements. Passengers. Freight. Other Airports. Infrastructure. Definitions. Traffic Review 2016

Summary. Air transport movements. Passengers. Freight. Other Airports. Infrastructure. Definitions. Traffic Review 2016 2016 TRAFFIC REVIEW Foreword The 2016 Traffic Review provides an extensive overview of Amsterdam Airport Schiphol s key traffic and transport figures. For information about previous years, please visit

More information

Economic impact of the Athens International Airport

Economic impact of the Athens International Airport FOUNDATION FOR ECONOMIC & INDUSTRIAL RESEARCH 11 T. Karatassou St, 11742 Athens, Greece, Tel: (+30) 210 9211 200-10, Fax: (+30) 210 9233 977, www.iobe.gr Economic impact of the Athens International Airport

More information

global duty free & travel retail sales 2011

global duty free & travel retail sales 2011 global duty free & travel retail sales 2011 year of data Global Duty Free & Travel Retail Sales : US$ 39.0 billion Share by Product Group Statistical change vs 2009 in US$ 16.5% Luxury Goods 36.0% Confectionery

More information

The Benefits of Tourism

The Benefits of Tourism The Benefits of Tourism The Benefits of Tourism Diversification of tourism industry infrastructure Contributions to the balance of payments Increase in tax revenues Improved job opportunities Improved

More information

Factors Affecting Airline Profits: Evidence From The Philippines Wilfred S. Manuela Jr., Ateneo de Manila University, Philippines

Factors Affecting Airline Profits: Evidence From The Philippines Wilfred S. Manuela Jr., Ateneo de Manila University, Philippines Factors Affecting Airline Profits: Evidence From The Philippines Wilfred S. Manuela Jr., Ateneo de Manila University, Philippines ABSTRACT This article examines the factors that affect the profits of four

More information

Brussels Airport Airline Issues & Route Development Breakout session 18 June

Brussels Airport Airline Issues & Route Development Breakout session 18 June Brussels Airport Airline Issues & Route Development Breakout session 18 June Léon Verhallen, Head of Aviation Marketing Geert Van Dessel, manager Aviation Marketing Brussels Airport: The Heart of Europe

More information

MODAIR. Measure and development of intermodality at AIRport

MODAIR. Measure and development of intermodality at AIRport MODAIR Measure and development of intermodality at AIRport M3SYSTEM ANA ENAC GISMEDIA Eurocontrol CARE INO II programme Airports are, by nature, interchange nodes, with connections at least to the road

More information

Aviation Workshop F. Goldnadel COO and Managing Director of Paris-CDG airport F. Mereyde Director of Paris-Orly airport

Aviation Workshop F. Goldnadel COO and Managing Director of Paris-CDG airport F. Mereyde Director of Paris-Orly airport Aviation Workshop 2016-2020 F. Goldnadel COO and Managing Director of Paris-CDG airport F. Mereyde Director of Paris-Orly airport A successful airport system... optimised and more competitive Investors

More information

1. Explain the purpose of the study. 2. How it was undertaken

1. Explain the purpose of the study. 2. How it was undertaken 1. Explain the purpose of the study 2. How it was undertaken 3. Present some specific research & proposals Community forums Runway schemes Night flight restrictions Other examples 4. Answer any questions

More information

Digital14 FC-M / 2018

Digital14 FC-M / 2018 Digital14 FC-M / 2018 Digital take-off for your advertising Everyone is talking about digital signage, and it s at the top of the wishlist for our customers. At the end of the day, digital signs combine

More information

MODAIR: Measure and development of intermodality at AIRport. INO WORKSHOP EEC, December 6 h 2005

MODAIR: Measure and development of intermodality at AIRport. INO WORKSHOP EEC, December 6 h 2005 MODAIR: Measure and development of intermodality at AIRport INO WORKSHOP EEC, December 6 h 2005 What is intermodality? The use of different and coordinated modes of transports for one trip High Speed train

More information

No Hard Analysis. A critique by HACAN of the recently-published

No Hard Analysis. A critique by HACAN of the recently-published No Hard Analysis A critique by HACAN of the recently-published report, Aviation Services and the City, the City of London commissioned from York Aviation consultants about the aviation needs of the City.

More information

Q REVENUE 2 MAY 2016

Q REVENUE 2 MAY 2016 Q1 2016 REVENUE 2 MAY 2016 Q1 2016 HIGHLIGHTS Traffic recovery Good performance of Bars and Restaurants Slowdown of sales/pax Passengers traffic resilience: +3.7% for Groupe ADP +1.9% for Paris Aéroport

More information

MONTH REVENUE

MONTH REVENUE 2016 9-MONTH REVENUE 8 November 2016 HIGHLIGHTS Freezing of tariffs increase in 2016 as concluded in 2016-2020 ERA Paris Aéroport traffic: +0.9% ; Groupe ADP traffic: +1.5% Aviation Traffic in Paris-Orly:

More information

5. Economic performance

5. Economic performance AT 1 1 Economic performance STOCK MAINTAINING LEADERSHIP EFFICIENCY AND COMPETITIVENESS Income Costs INVESTMENT GENERATING CAPACITY AND VALUE AT 1 1 Profitability CHALLENGES AIMS 2018 PROGRESS IN SDG The

More information

International Air Connectivity for Business. How well connected are UK airports to the world s main business destinations?

International Air Connectivity for Business. How well connected are UK airports to the world s main business destinations? International Air Connectivity for Business How well connected are UK airports to the world s main business destinations? 1 Summary Air transport provides the international connectivity the country needs

More information

Global Aviation Monitor (GAM)

Global Aviation Monitor (GAM) Global Aviation Monitor (GAM) Analysis and Short Term Outlook of Global, European and German Air Transport Main Results of Global Air Transport Supply Analysis and Outlook Background: Covers about 3,500

More information

Global Aviation Monitor (GAM)

Global Aviation Monitor (GAM) Global Aviation Monitor (GAM) Analysis and Short Term Outlook of Global, European and German Air Transport Main Results of Global Air Transport Supply Analysis and Outlook Background: Covers about 3,500

More information

Global Aviation Monitor (GAM)

Global Aviation Monitor (GAM) Global Aviation Monitor (GAM) Analysis and Short Term Outlook of Global, European and German Air Transport Main Results of Global Air Transport Supply Analysis and Outlook Background: Covers about 3,500

More information

Economic Contribution of Tourism to NSW

Economic Contribution of Tourism to NSW Economic Contribution of Tourism to NSW 2013-14 Tourism is a significant part of the NSW economy. In 2013-14, tourism contributed $34.9 billion (Tourism Consumption) to the NSW economy and employed 272,000

More information

IATA ECONOMIC BRIEFING DECEMBER 2008

IATA ECONOMIC BRIEFING DECEMBER 2008 ECONOMIC BRIEFING DECEMBER 28 THE IMPACT OF RECESSION ON AIR TRAFFIC VOLUMES Recession is now forecast for North America, Europe and Japan late this year and into 29. The last major downturn in air traffic,

More information

Airport revenue per passenger vs airline revenue per passenger

Airport revenue per passenger vs airline revenue per passenger February 26, 2018 Ms Lilian Greenwood MP Chair, Transport Select Committee House of Commons London, SW1A 0AA Airport revenue per passenger vs airline revenue per passenger Dear Ms Greenwood, Following

More information

Global Aviation Monitor (GAM)

Global Aviation Monitor (GAM) Global Aviation Monitor (GAM) Analysis and Short Term Outlook of Global, European and German Air Transport Main Results of Global Air Transport Supply Analysis and Outlook Background: Covers about 3,500

More information

Global Aviation Monitor (GAM)

Global Aviation Monitor (GAM) Global Aviation Monitor (GAM) Analysis and Short Term Outlook of Global, European and German Air Transport Main Results of Global Air Transport Supply Analysis and Outlook Background: Covers about 3,500

More information

Global Aviation Monitor (GAM)

Global Aviation Monitor (GAM) Global Aviation Monitor (GAM) Analysis and Short Term Outlook of Global, European and German Air Transport Main Results of Global Air Transport Supply Analysis and Outlook Background: Covers about 3,500

More information

Projections of regional air passenger flows in New Zealand, by Tim Hazledine Professor of Economics at the University of Auckland

Projections of regional air passenger flows in New Zealand, by Tim Hazledine Professor of Economics at the University of Auckland Projections of regional air passenger flows in New Zealand, 2018-2043 by Tim Hazledine Professor of Economics at the University of Auckland Presentation to Knowledge Hub Seminar at the Ministry of Transport,

More information

IAG results presentation. Quarter Three st October 2014

IAG results presentation. Quarter Three st October 2014 IAG results presentation Quarter Three 2014 31 st October 2014 Q3 financial summary OPERATING PROFIT TOTAL UNIT REVENUE PAX UNIT REVENUE 900m (reported, pre-exceptional items) -1.9% (constant FX) -0.9%

More information

Global Aviation Monitor (GAM)

Global Aviation Monitor (GAM) Global Aviation Monitor (GAM) Analysis and Short Term Outlook of Global, European and German Air Transport Main Results of Global Air Transport Supply Analysis and Outlook Background: Covers about 3,500

More information

The sky is the limit?: The determinants and constraints of European airports' commercial revenues

The sky is the limit?: The determinants and constraints of European airports' commercial revenues The sky is the limit?: The determinants and constraints of European airports' commercial revenues Article Accepted Version Fuerst, F., Sven, G. and Ulf, K. (2011) The sky is the limit?: The determinants

More information

Estimates of the Economic Importance of Tourism

Estimates of the Economic Importance of Tourism Estimates of the Economic Importance of Tourism 2008-2013 Coverage: UK Date: 03 December 2014 Geographical Area: UK Theme: People and Places Theme: Economy Theme: Travel and Transport Key Points This article

More information

Competition in the domestic airline sector in Mexico *

Competition in the domestic airline sector in Mexico * Competition in the domestic airline sector in Mexico * Agustin J. Ros Senior Economist, OECD April 23, 2010 * This work is output from the CFC-OECD Competition Assessment Project. Opinions expressed do

More information

THE FUNDAMENTALS OF ROUTE DEVELOPMENT SETTING THE SCENE MODULE 1

THE FUNDAMENTALS OF ROUTE DEVELOPMENT SETTING THE SCENE MODULE 1 THE FUNDAMENTALS OF ROUTE DEVELOPMENT SETTING THE SCENE THE FUNDAMENTALS OF ROUTE DEVELOPMENT Mike St Laurent Vice President, Consulting - ASM ASM BACKGROUND Global consultancy founded in 1993 to provide

More information

World total revenue traffic international and domestic (scheduled services, )

World total revenue traffic international and domestic (scheduled services, ) Table 1. World total revenue traffic international and domestic (scheduled services, 2008 2017) Passengers Passenger-km Freight tonnes Freight tonne-km Mail tonne-km Revenue tonne-km Annual Annual Annual

More information

REAL ESTATE PLAN ADOLFO SUÁREZ MADRID-BARAJAS AIRPORT

REAL ESTATE PLAN ADOLFO SUÁREZ MADRID-BARAJAS AIRPORT REAL ESTATE PLAN ADOLFO SUÁREZ MADRID-BARAJAS AIRPORT Adolfo Suárez Madrid-Barajas Airport A landmark airport 53.4 million Passengers +5.9% 387 thousand Operations +2.5% Gateway to Latin America 27 destinations

More information

Australian Airport Association Stakeholder Dinner. 31 May 2018 Sydney, Australia. Speech by Angela Gittens

Australian Airport Association Stakeholder Dinner. 31 May 2018 Sydney, Australia. Speech by Angela Gittens Australian Airport Association Stakeholder Dinner 31 May 2018 Sydney, Australia Speech by Angela Gittens Good evening ladies and gentlemen. It is a pleasure to be with you tonight and thank you again Caroline

More information

Schiphol Group. Annual Report

Schiphol Group. Annual Report Schiphol Group Annual Report 2013 Business model Business model Schiphol Group distinguishes four core activities: Aviation, Consumer Products and Services, Real Estate, and Alliances and Participations.

More information

A Guide to the ACi europe economic impact online CALCuLAtoR

A Guide to the ACi europe economic impact online CALCuLAtoR A Guide to the ACI EUROPE Economic Impact ONLINE Calculator Cover image appears courtesy of Aéroports de Paris. 2 Economic Impact ONLINE Calculator - Guide Best Practice & Conditions for Use of the Economic

More information

CRUISE ACTIVITY IN BARCELONA. Impact on the Catalan economy and socioeconomic profile of cruise passengers (2014)

CRUISE ACTIVITY IN BARCELONA. Impact on the Catalan economy and socioeconomic profile of cruise passengers (2014) CRUISE ACTIVITY IN BARCELONA Impact on the Catalan economy and socioeconomic profile of cruise passengers (2014) 2 CRUISE ACTIVITY IN BARCELONA 2014 Impact on the Catalan economy and socioeconomic profile

More information

REAL ESTATE PLAN ADOLFO SUÁREZ MADRID-BARAJAS AIRPORT

REAL ESTATE PLAN ADOLFO SUÁREZ MADRID-BARAJAS AIRPORT REAL ESTATE PLAN ADOLFO SUÁREZ MADRID-BARAJAS AIRPORT Adolfo Suárez Madrid-Barajas Airport A landmark airport 53.4 million Passengers +5.9% 387 thousand Operations +2.5% Gateway to Latin America 27 destinations

More information

The EUROCONTROL bulletin on air transport trends

The EUROCONTROL bulletin on air transport trends Industry Monitor The EUROCONTROL bulletin on air transport trends Issue N 178. 01/12/2015 European flights increased by 1.2% in October 2015 compared with October 2014 and were in line with the forecast.

More information

Market power and its determinants of the Chinese airline industry

Market power and its determinants of the Chinese airline industry Market power and its determinants of the Chinese airline industry Qiong Zhang, Hangjun Yang, Qiang Wang University of International Business and Economics Anming Zhang University of British Columbia 4

More information

STANSTED AIRPORT LIMITED REGULATORY ACCOUNTS PERFORMANCE REPORT FOR THE YEAR ENDED 31 MARCH Financial Review...1. Performance Report...

STANSTED AIRPORT LIMITED REGULATORY ACCOUNTS PERFORMANCE REPORT FOR THE YEAR ENDED 31 MARCH Financial Review...1. Performance Report... PERFORMANCE REPORT CONTENTS Page Financial Review...1 Performance Report...3 Notes to the Performance Report...4 Stansted Regulatory Accounts PERFORMANCE REPORT Financial Review General overview Stansted

More information

WHEN IS THE RIGHT TIME TO FLY? THE CASE OF SOUTHEAST ASIAN LOW- COST AIRLINES

WHEN IS THE RIGHT TIME TO FLY? THE CASE OF SOUTHEAST ASIAN LOW- COST AIRLINES WHEN IS THE RIGHT TIME TO FLY? THE CASE OF SOUTHEAST ASIAN LOW- COST AIRLINES Chun Meng Tang, Abhishek Bhati, Tjong Budisantoso, Derrick Lee James Cook University Australia, Singapore Campus ABSTRACT This

More information

The Benefits of Tourism

The Benefits of Tourism The Benefits of Tourism The Benefits of Tourism Diversification of tourism industry infrastructure Contributions to the balance of payments Increase in tax revenues Improved job opportunities Improved

More information

Over 2017, FPC s domestic passenger traffic grew by 1.4%. MACROECONOMIC ENVIRONMENT. Indicators 2017

Over 2017, FPC s domestic passenger traffic grew by 1.4%. MACROECONOMIC ENVIRONMENT. Indicators 2017 MARKET OVERVIEW 1 Over, FPC s domestic passenger traffic grew by 1.4%. MACROECONOMIC ENVIRONMENT Key economic growth indicators, ( % year-on-year) Indicators GDP 101.5 Consumer Price Index 103.7 Investment

More information

Global Aviation Monitor (GAM)

Global Aviation Monitor (GAM) Global Aviation Monitor (GAM) Analysis and Short Term Outlook of Global, European and German Air Transport Main Results of Global Air Transport Supply Analysis and Outlook Background: Covers about 3,500

More information

Economic Impact of Tourism. Norfolk

Economic Impact of Tourism. Norfolk Economic Impact of Tourism Norfolk - 2009 Produced by: East of England Tourism Dettingen House Dettingen Way, Bury St Edmunds Suffolk IP33 3TU Tel. 01284 727480 Contextual analysis Regional Economic Trends

More information

Global Aviation Monitor (GAM)

Global Aviation Monitor (GAM) Global Aviation Monitor (GAM) Analysis and Short Term Outlook of Global, European and German Air Transport Main Results of Global Air Transport Supply Analysis and Outlook Background: Covers about 3,500

More information

Economic Contribution of Tourism to NSW

Economic Contribution of Tourism to NSW Economic Contribution of Tourism to NSW 2015-16 Tourism is a significant part of the NSW economy. In 2015-16, tourism contributed $38.1 billion (Tourism Consumption) to the NSW economy and employed 261,100

More information

Produced by: Destination Research Sergi Jarques, Director

Produced by: Destination Research Sergi Jarques, Director Produced by: Destination Research Sergi Jarques, Director Economic Impact of Tourism Oxfordshire - 2015 Economic Impact of Tourism Headline Figures Oxfordshire - 2015 Total number of trips (day & staying)

More information

Peter Forsyth, Monash University Conference on Airports Competition Barcelona 19 Nov 2012

Peter Forsyth, Monash University Conference on Airports Competition Barcelona 19 Nov 2012 Airport Competition: Implications for Regulation and Welfare Peter Forsyth, Monash University Conference on Airports Competition Barcelona 19 Nov 2012 1 The Issue To what extent can we rely on competition

More information

Airlines and Operations Revenue Data Collection

Airlines and Operations Revenue Data Collection Airlines and Operations Revenue Data Collection And other technology efficiencies that realize cost savings and increased revenues for airport operators, airlines, and ground service organizations at the

More information

Appraisal of Factors Influencing Public Transport Patronage in New Zealand

Appraisal of Factors Influencing Public Transport Patronage in New Zealand Appraisal of Factors Influencing Public Transport Patronage in New Zealand Dr Judith Wang Research Fellow in Transport Economics The Energy Centre The University of Auckland Business School, New Zealand

More information

The Civil Aviation Sector as a Driver for Economic Growth in Egypt

The Civil Aviation Sector as a Driver for Economic Growth in Egypt The Civil Aviation Sector as a Driver for Economic Growth in Egypt EDSCA Conference Cairo, November 10, 2013 Agenda 1. Facts and figures 2. Socio-economic impact of the civil aviation sector 3. Options

More information

ICAO Forecasts for Effective Planning and Implementation. Sijia Chen Economic Development Air Transport Bureau, ICAO

ICAO Forecasts for Effective Planning and Implementation. Sijia Chen Economic Development Air Transport Bureau, ICAO ICAO Forecasts for Effective Planning and Implementation Sijia Chen Economic Development Air Transport Bureau, ICAO Appendix C : Forecasting, planning and economic analyses The Assembly: Requests the Council

More information

Airport Evolution and Capacity Forecasting

Airport Evolution and Capacity Forecasting Internet: www.gap-projekt.de Contact: info@gap-projekt.de Airport Evolution and Capacity Forecasting Branko Bubalo GAP/B Research Project branko.bubalo@googlemail.com partner/sponsor: 8 th GARS Aviation

More information

NOTES ON COST AND COST ESTIMATION by D. Gillen

NOTES ON COST AND COST ESTIMATION by D. Gillen NOTES ON COST AND COST ESTIMATION by D. Gillen The basic unit of the cost analysis is the flight segment. In describing the carrier s cost we distinguish costs which vary by segment and those which vary

More information

The Benefits of Tourism

The Benefits of Tourism The Benefits of Tourism The Benefits of Tourism Diversification of tourism industry infrastructure Contributions to the balance of payments Increase in tax revenues Improved job opportunities Improved

More information

TOURISM. Bhutan s Perspective. A presentation by: Tourism Council of Bhutan

TOURISM. Bhutan s Perspective. A presentation by: Tourism Council of Bhutan TOURISM Bhutan s Perspective A presentation by: Tourism Council of Bhutan The Vision To create a vibrant and dynamic industry making significant contribution to Gross National Happiness and be a positive

More information

GATWICK AIRPORT JOINS VINCI AIRPORTS December 2018

GATWICK AIRPORT JOINS VINCI AIRPORTS December 2018 GATWICK AIRPORT JOINS VINCI AIRPORTS December 2018 Asset presentation Gatwick is the 2 nd largest airport in the UK and the 8 th busiest in Europe with 46 mpax Key features 46 mpaxin FY18, in the wealthiest

More information

NETWORK OPERATIONS REPORT OCTOBER 2011

NETWORK OPERATIONS REPORT OCTOBER 2011 OBER. TRAFFIC TOTAL FLIGHTS Last months average daily traffic 8 6 4 8 6 79 5 97 44 5684 694 8786 4 4 9974 589 84 Traffic increased by.% compared to October. Compared to September, the traffic was 8. lower.

More information

LAX SPECIFIC PLAN AVIATION ACTIVITY ANALYSIS REPORT CY 2017

LAX SPECIFIC PLAN AVIATION ACTIVITY ANALYSIS REPORT CY 2017 LAX SPECIFIC PLAN AVIATION ACTIVITY ANALYSIS REPORT CY 2017 Prepared May 2018 Los Angeles International Airport (LAX) Specific Plan Compliance Review Aviation Activity Analysis January - December 2017

More information

Global Aviation Monitor (GAM)

Global Aviation Monitor (GAM) Global Aviation Monitor (GAM) Analysis and Short Term Outlook of Global, European and German Air Transport Main Results of Global Air Transport Supply Analyses and Outlook Background: Covers about 3.5

More information

Economic performance of the airline industry Mid-year 2017 update. Brian Pearce, Chief Economist, IATA

Economic performance of the airline industry Mid-year 2017 update. Brian Pearce, Chief Economist, IATA Economic performance of the airline industry Mid-year 2017 update Brian Pearce, Chief Economist, IATA www.iata.org/economics % change over previous year Index, 50 = no change in output Performance drivers

More information

Airline financial performance and longterm developments in air travel markets

Airline financial performance and longterm developments in air travel markets Airline financial performance and longterm developments in air travel markets March 2018 Brian Pearce, Chief Economist, IATA www.iata.org/economics % of invested capital Investor returns falling but above

More information

Vueling completes its restructuring plan and turns a 13.4m operating profit in Q2

Vueling completes its restructuring plan and turns a 13.4m operating profit in Q2 Vueling completes its restructuring plan and turns a 13.4m operating profit in Highlights Vueling turned a 13.4m operating profit (excluding restructuring costs) during the second quarter in the year,

More information

The Benefits of Tourism

The Benefits of Tourism The Benefits of Tourism The Benefits of Tourism Diversification of tourism industry infrastructure Contributions to the balance of payments Increase in tax revenues Improved job opportunities Improved

More information

IATA ECONOMIC BRIEFING MARCH 2011

IATA ECONOMIC BRIEFING MARCH 2011 IATA ECONOMIC BRIEFING MARCH 2011 WHAT DRIVES THE SIZE OF PREMIUM AIR TRAVEL MARKETS? WHY PREMIUM AIR TRAVEL IS AN IMPORTANT TRAVEL MARKET SEGMENT The premium (first and business class) travel segment

More information

TRUTH ABOUT FLYING. (and KLM)

TRUTH ABOUT FLYING. (and KLM) TRUTH ABOUT FLYING (and KLM) Bill Hemmings - 23rd March 2018 2 KLM; world s oldest Airline = #12 Netherlands Population 17.2m = # 66 Industry going gangbusters Pays no tax Heard that before? 3 4 Coffee

More information

The SESAR contribution to the near and mid term Safety

The SESAR contribution to the near and mid term Safety The SESAR contribution to the near and mid term Safety Final Optics Dissemination Event 12-13 June 2017 Pierre ANDRIBET R&D and SESAR Contribution Manager EUROCONTROL Directorate Air Traffic Management

More information

Aviation Activity Forecasts

Aviation Activity Forecasts C H A P T E R 2 Aviation Activity Forecasts 2.0 OVERVIEW This chapter contains aviation activity forecasts for Chippewa Valley Regional Airport over the 20-year planning horizon. Aviation demand forecasts

More information

Stable EBITDA in H and 2015 targets maintained

Stable EBITDA in H and 2015 targets maintained Paris, 31 August 2012 Stable EBITDA in H1 2012 2012 and 2015 targets maintained Traffic growth of 2% 1 in H1 2012 on Parisian airports with 43 million passengers Mixed H1 results depending on segments:

More information

Modeling Air Passenger Demand in Bandaranaike International Airport, Sri Lanka

Modeling Air Passenger Demand in Bandaranaike International Airport, Sri Lanka Journal of Business & Economic Policy Vol. 2, No. 4; December 2015 Modeling Air Passenger Demand in Bandaranaike International Airport, Sri Lanka Maduranga Priyadarshana Undergraduate Department of Transport

More information

BAA (SP) Limited Results for six months ended 30 June July 2011

BAA (SP) Limited Results for six months ended 30 June July 2011 BAA (SP) Limited Results for six months ended 30 June 2011 July 2011 Record Q2 Heathrow traffic Good overall service standards Strong financial results Successful dollar and sterling financings H1 2011

More information

Modeling Airline Fares

Modeling Airline Fares Modeling Airline Fares Evidence from the U.S. Domestic Airline Sector Domingo Acedo Gomez Arturs Lukjanovics Joris van den Berg 31 January 2014 Motivation and Main Findings Which Factors Influence Fares?

More information

01 Amadeus at a glance

01 Amadeus at a glance 01 Amadeus at a glance 7 Amadeus Annual Report 2011 1.1 Company s origins and development Most people associate the birth of electronic commerce distribution with the arrival of the internet. In fact,

More information

Defining & Understanding M.I.C.E. Meetings

Defining & Understanding M.I.C.E. Meetings Defining & Understanding M.I.C.E. Meetings Business-oriented meeting usually hosted by a corporation, in which participants represent the same company, corporate group or client/provider relationships

More information

1.4: Premium Air Travel: An Important Market Segment

1.4: Premium Air Travel: An Important Market Segment CHAPTER 1.4 Premium Air Travel: An Important Market Segment SELIM ACH BRIAN PEARCE International Air Transport Association (IATA) The premium (first and business class) travel segment is an important market,

More information

1 Replication of Gerardi and Shapiro (2009)

1 Replication of Gerardi and Shapiro (2009) Appendix: "Incumbent Response to Entry by Low-Cost Carriers in the U.S. Airline Industry" Kerry M. Tan 1 Replication of Gerardi and Shapiro (2009) Gerardi and Shapiro (2009) use a two-way fixed effects

More information

Situation of the tourism sector. Year ending 2016

Situation of the tourism sector. Year ending 2016 Situation of the tourism sector Year ending 2016 INDEX Page SECTION 0: THE TOURIST SECTOR 2 Summary tables 3 Annual summary graphs 5 SECTION 1: PASSENGERS 8 Gran Canaria 9 Canaries 10 SECTION 2: CUSTOMER

More information

Impact of Financial Sector on Economic Growth: Evidence from Kosovo

Impact of Financial Sector on Economic Growth: Evidence from Kosovo Doi:10.5901/mjss.2015.v6n6s4p315 Abstract Impact of Financial Sector on Economic Growth: Evidence from Kosovo Majlinda Mazelliu, MBA majlinda.mazelliu@gmail.com Jeton Zogjani, MSc & MBA zogjanijeton@gmail.com

More information

Company Presentation Flughafen Wien AG

Company Presentation Flughafen Wien AG Company Presentation Flughafen Wien AG Results for 2010 March/April 2011 2010 At a glance Total revenue: EBITDA: Net profit : after non-controlling interests Passengers: (European average of +4.2%*) EUR

More information

Information meeting. Jean-Cyril Spinetta Chairman and CEO

Information meeting. Jean-Cyril Spinetta Chairman and CEO Information meeting Jean-Cyril Spinetta Chairman and CEO Forward-looking statements The information herein contains forward-looking statements about Air France-KLM and its business. These forward-looking

More information

Regional benefits of a major mobility hub at Toronto Pearson

Regional benefits of a major mobility hub at Toronto Pearson INFORMATION ONLY Date: October 16, 2017 Subject: Regional benefits of a major mobility hub at Toronto Pearson At the TTC Board meeting on October 16, 2017, staff from the Greater Toronto Airport Authority,

More information

Paper presented to the 40 th European Congress of the Regional Science Association International, Barcelona, Spain, 30 August 2 September, 2000.

Paper presented to the 40 th European Congress of the Regional Science Association International, Barcelona, Spain, 30 August 2 September, 2000. Airline Strategies for Aircraft Size and Airline Frequency with changing Demand and Competition: A Two-Stage Least Squares Analysis for long haul traffic on the North Atlantic. D.E.Pitfield and R.E.Caves

More information

Depeaking Optimization of Air Traffic Systems

Depeaking Optimization of Air Traffic Systems Depeaking Optimization of Air Traffic Systems B.Stolz, T. Hanschke Technische Universität Clausthal, Institut für Mathematik, Erzstr. 1, 38678 Clausthal-Zellerfeld M. Frank, M. Mederer Deutsche Lufthansa

More information

PERFORMANCE MEASURES TO SUPPORT COMPETITIVE ADVANTAGE

PERFORMANCE MEASURES TO SUPPORT COMPETITIVE ADVANTAGE PERFORMANCE MEASURES TO SUPPORT COMPETITIVE ADVANTAGE by Graham Morgan 01 Aug 2005 The emergence in the 1990s of low-cost airlines and the expansion of the European travel market has shown how competition

More information

Finnair Q Result

Finnair Q Result Finnair Q2 2015 Result 14 August 2015 CEO Pekka Vauramo, Interim CFO Mika Stirkkinen 1 Market environment shows signs of improvement There were signs of a recovery in the demand for consumer and business

More information

BAA s London airports

BAA s London airports BAA s London airports Holding company debt BNP Paribas High Yield and Leveraged Finance Conference 10 January 2012 Introduction to BAA group BAA owns six UK airports Heathrow, Stansted, Edinburgh, Glasgow,

More information

Global Aviation Monitor (GAM)

Global Aviation Monitor (GAM) Global Aviation Monitor (GAM) Analysis and Short Term Outlook of Global, European and German Air Transport Main Results of Global Air Transport Supply Analysis and Outlook Background: Covers about 3,500

More information

Investigating International Business Events Delegate Spending Patterns in Malaysia

Investigating International Business Events Delegate Spending Patterns in Malaysia Investigating International Business Events Delegate Spending Patterns in Malaysia 1 Introduction To investigate international business events delegate spending patterns in Malaysia To determine the economic

More information

Q Finnair s growth continued Pekka Vähähyyppä

Q Finnair s growth continued Pekka Vähähyyppä 2018 Finnair s growth continued 25.10.2018 Pekka Vähähyyppä 1 We continued to develop our services and network New route to Los Angeles in 2019, two daily flights to Hong Kong New digital service for exploring

More information

The significance of Schiphol for the Netherlands. Jan Veldhuis Amsterdam Aviation Economics Airneth Annual Conference The Hague, 12 April 2007

The significance of Schiphol for the Netherlands. Jan Veldhuis Amsterdam Aviation Economics Airneth Annual Conference The Hague, 12 April 2007 The significance of Schiphol for the Netherlands Jan Veldhuis Airneth Annual Conference The Hague, 12 April 2007 Measurement of significance of Schiphol Destinations, frequencies Passenger numbers etc.

More information

Airport Monopoly and Regulation: Practice and Reform in China Jianwei Huang1, a

Airport Monopoly and Regulation: Practice and Reform in China Jianwei Huang1, a 2nd International Conference on Economics, Management Engineering and Education Technology (ICEMEET 2016) Airport Monopoly and Regulation: Practice and Reform in China Jianwei Huang1, a 1 Shanghai University

More information

Traffic, delays and forecasts European summer traffic falls outlook for modest long-term growth

Traffic, delays and forecasts European summer traffic falls outlook for modest long-term growth Skyway 17 Traffic, delays and forecasts European summer traffic falls outlook for modest long-term growth EUROCONTROL monitors the performance of Europe s wider air transport system and the more detailed

More information

Chapter 4 Air Traffic Forecasts

Chapter 4 Air Traffic Forecasts Chapter 4 Air Traffic Forecasts 4.1 EXECUTIVE SUMMARY Forecasts of aviation demand are a key element of an airport s future planning, as they are used as the basis for the demand/capacity and facility

More information

An outdoor waterpark is a facility offering three or more waterslides and other aquatic facilities.

An outdoor waterpark is a facility offering three or more waterslides and other aquatic facilities. Methodology for Feasibility Studies for Waterparks By David J. Sangree, MAI, CPA, ISHC Before a developer or an organization considers constructing a new indoor or outdoor waterpark at a resort or standalone,

More information