How can markets become more contestable?
|
|
- Aron Gardner
- 6 years ago
- Views:
Transcription
1 How can markets become more contestable?
2 By the end this lesson you will be able to Explain how markets can become more contestable? Differentiate the level of contestability between markets and what determines it using industry examples Explain using a diagram the implications of contestable market theory on firms in the industry Evaluate contestable markets
3 Making Markets More Contestable Main approaches De-regulation - i.e. reducing statutory barriers to entry to liberalise a market Tougher competition laws acting against predatory behaviour by existing firms / tough rules against cartels The changing nature of technology which has brought down entry costs in some markets (an increase in capital mobility)
4 The airline industry To what extent is entry and exit in the market 'costless'? How would you describe the market structure of the low cost airlines industry? Looking at the pricing strategies of each company in this market, is there evidence that fierce competition is succeeding in driving prices down as we might expect in a perfectly competitive market structure? What response are the traditional airlines making to the impact of the low-cost carriers? (The quote and link below may be of help in pointing you in the right direction).
5 Today, major airline carriers are judged according to their "low-cost" label. As a result, the biggest impact of Low Cost Carriers (LCCs) on business travel might soon lie in the reactions of traditional airlines. To fight back against the cheap fares advertised by LCCs, major carriers have adopted two parallel strategies: First, they have focused on the quality of their service (their line is, in short: we do not skimp on service). Second, they have launched low fares of their own to meet the LCCs in the price war. This has been understood more quickly in the UK than anywhere else in Europe. For companies, the issue of "low-cost carriers" is "out of date". The focus is now about leveraging traditional airlines low fares. Large German and Dutch companies are also heading in this direction. Potential cost cutting is likely to grow in the months ahead. Major savings opportunities await companies, providing they are able to take full advantage of them. What benefits do low-cost carriers really bring to business travel in Europe? A 'White Paper Carlson Wagonlit Travel
6 Normal Profit Contrasted with Profit Maximisation If the monopolist charges the profitmaximising price, Revenue then - if the market is contestable the firm will be vulnerable to hit P1 and run entry The only way the monopolist can avoid this happening is to set the price equal to average cost, so that there are no supernormal profits to act as an incentive for entry No one in the industry has any advantage over anyone else P2 Q1 MR Q2 MC AR ATC Output (Q)
7 The Low Cost Airline Model (1) Use of the Internet to reduce distribution costs (2) Maximise the utilisation of the aircraft assets (3) Direct sell only via the net (4) Ticketless travel (5) No free airline food (6) Use smaller airports - cheaper to fly from (7) One kind of aircraft: Commonality maximises efficiency in the recruitment and training of staff
8 Barriers to entry in the aviation industry (1) Availability of take-off and landing 'slots' (2) Necessity of entering a new route on a large enough scale to achieve acceptable cost levels (3) The costs of leasing new fleets of aircraft (4) Securing an air operator s license from the EU (5) Contracts with ground-handling companies (6) Retaliatory behaviour by rivals (e.g. an expansion in flight frequency, cuts in fares) (7) Overcoming existing customer loyalty achieved by companies who have exploited first-mover advantage on specific routes
9 Open Skies! March 2008 The Open Skies agreement was reached between the European Union and the United States. Previously, only British Airways, Virgin Atlantic, United and American Airlines were legally allowed to offer direct flights from Heathrow Airport to the US. But after the deregulations of transatlantic air travel, the market was opened to competition from challengers.
10 Article (March 2008): British Airways faces 250m threat to profits as open skies era takes off The sweeping away of restrictive rules that govern transatlantic air travel could cost British Airways 250 million a year in lost profits. From tomorrow, BA, which is reeling under a torrent of criticism for the chaos that has surrounded the opening of Terminal 5, its new base at Heathrow, will face increased competition on its most lucrative routes as the open skies era begins. The agreement allows any European carrier to fly to any American city, effectively smashing the Heathrow cartel. To this end, on Sunday Continental, Delta US Airways and even Air France will muscle in on transatlantic services from Britain's largest airport. This is expected to drive down air fares, particularly in business class. The arrival of new carriers at Heathrow is a particular threat to BA, which controls 48 per cent of the airport's slots and is the largest transatlantic carrier. Airlines make almost no money on transatlantic economy fares but reap large profits from business and first-class passengers. BA is thought to make as much as 60 per cent of its profits from its Heathrow-to-New York operations alone.
11 Evaluating Contestable Markets There are no perfectly contestable markets What matters is the degree of competition / contestability The idea is that what matters is not so much competition within a market, but rather competition for a market. What also matters is the threat of entry of new suppliers but this may not be enough to affect the behaviour of existing firms The absence of competition in a market over a long period of time does not necessarily suggest a lack of contestability Structural changes in costs in different industries can change the degree of contestability Contestability may force existing firms away from profit-maximising behaviour (e.g. towards sales-revenue maximisation)
12 Implications of contestable market theory The number of firms in an industry is irrelevant in terms of economic efficiency Abnormal profits attract new entrants driving down prices and ensuring economic efficiency All markets (excluding natural monopoly) can be efficient so long as they are contestable Shifts the emphasis of government competition policy away from number of firms towards reducing barriers to entry in an industry Potential competition may be more important for economic efficiency than actual competition
Investing in the Region s Airline
Investing in the Region s Airline A Jet Airways Perspective Wolfgang Prock-Schauer Jet Airways BOM, 20 th Jun 05 Table of Contents Geopolitical and Macroeconomics Trends in India Aviation Vision vs Ground
More informationCase Study 2. Low-Cost Carriers
Case Study 2 Low-Cost Carriers Introduction Low cost carriers are one of the most significant developments in air transport in recent years. With their innovative business model they have reduced both
More informationOPEN SKIES TREATY Last Updated 2/18/10 Compiled by Dave Harris
OPEN SKIES TREATY Last Updated 2/18/10 Compiled by Dave Harris mothflyer@gmail.com The following was excerpted from Wikipedia. The Legislative Committee does not necessarily endorse or agree with some
More informationThe Power of Partnering
20 07 Issue No. 2 A MAG A Z I N E F O R A I R L I N E EXECUTIVE S T a k i ng y o ur airlin e to ne w heigh ts The Power of Partnering A Conversation with Abdul Wahab Teffaha, Secretary General Arab Air
More informationTAKING FLIGHT: THE ECONOMIC CONSQUENCES OF THE EU-US OPEN SKIES AGREEMENT
Student Economic Review, Vol. 22, 2008 TAKING FLIGHT: THE ECONOMIC CONSQUENCES OF THE EU-US OPEN SKIES AGREEMENT EMMA KEARNS Senior Sophister We have grown accustomed to low-cost flying within Europe thanks
More informationDECISIONS ON AIR TRANSPORT LICENCES AND ROUTE LICENCES 4/99
UNITED KINGDOM CIVIL AVIATION AUTHORITY DECISIONS ON AIR TRANSPORT LICENCES AND ROUTE LICENCES 4/99 Decision of the Authority on its proposal to vary licence 1B/10 held by British Airways Plc and licence
More informationSPEECH BY WILLIE WALSH, CHIEF EXECUTIVE, INTERNATIONAL AIRLINES GROUP. Annual General Meeting, Thursday June 14, Check against delivery
SPEECH BY WILLIE WALSH, CHIEF EXECUTIVE, INTERNATIONAL AIRLINES GROUP Annual General Meeting, Thursday June 14, 2018 Check against delivery FINANCIAL PERFORMANCE Good afternoon Ladies and Gentleman. I
More informationPERFORMANCE 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 informationTuesday 12 June 2012 Afternoon
Tuesday 12 June 2012 Afternoon A2 GCE ECONOMICS F584/01 Transport Economics *F530110612* Candidates answer on the Question Paper. OCR supplied materials: None Other materials required: Calculators may
More informationNETWORK DEVELOPMENT AND DETERMINATION OF ALLIANCE AND JOINT VENTURE BENEFITS
NETWORK DEVELOPMENT AND DETERMINATION OF ALLIANCE AND JOINT VENTURE BENEFITS Status of Alliances in Middle East Compared with other world regions, the Middle East is under represented in global alliances.
More informationPeter 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 informationAirline Operating Costs Dr. Peter Belobaba
Airline Operating Costs Dr. Peter Belobaba Istanbul Technical University Air Transportation Management M.Sc. Program Network, Fleet and Schedule Strategic Planning Module 12: 30 March 2016 Lecture Outline
More informationCost Cutting for Success: Factors Influencing Costs
Cost Cutting for Success: Factors Influencing Costs Dr George Williams Reader in Airline Economics Unit Cost (pence per ASK) in 2005/6 12 10 8 6 4 2 0 BA Connect Flybe easyjet Virgin Atlantic Monarch Astraeus
More informationIt is a great pleasure to be speaking here today in front of such an impressive gathering of the Brussels community.
Carolyn McCall CEO easyjet Making travel easy and affordable It is a great pleasure to be speaking here today in front of such an impressive gathering of the Brussels community. I gather that next week
More informationAVOIDING TURBULENCE. The risks and opportunities of airline consolidation for corporate travel programs
AVOIDING TURBULENCE The risks and opportunities of airline consolidation for corporate travel programs Introduction Whatever role you play in your corporate travel organisation, offering the best experience
More informationMinistry of Land, Infrastructure, Transport and Tourism Airport Forum. Jetstar Presentation 8 March 2011
資料 5 Ministry of Land, Infrastructure, Transport and Tourism Airport Forum Jetstar Presentation 8 March 2011 Welcome to Jetstar Jetstar is the leading Asia Pacific LCC Continuously profitable since 2004
More informationFor personal use only
QANTAS GROUP MARKET UPDATE SYDNEY, 5 December 2013: The Qantas Group today announced a market update, accelerated cost reductions and a capital expenditure and structural review, in response to fundamentally
More informationoneworld alliance: The Commission s investigation under Article 101 TFEU
oneworld alliance: The Commission s investigation under Article 101 TFEU ACE Conference, Norwich Benoit Durand Benoit.Durand@rbbecon.com com 24 November, 2010 The Commission s approach in oneworld The
More informationEurailspeed Parallel Session A.1. Alessandro Guiducci Associate Partner KPMG Advisory, Roma
Eurailspeed Parallel Session A.1 Alessandro Guiducci Associate Partner KPMG Advisory, Roma 1 Consumer & Industrial Market Influence of low cost air companies on the demand for high speed rail eurailspeed
More informationIntroduction: Airline Industry Overview Dr. Peter Belobaba Presented by: Alex Heiter & Ali Hajiyev
Introduction: Airline Industry Overview Dr. Peter Belobaba Presented by: Alex Heiter & Ali Hajiyev Istanbul Technical University Air Transportation Management M.Sc. Program Network, Fleet and Schedule
More informationAntitrust Review of Mergers and Alliances
Antitrust Review of Mergers and Alliances Istanbul Technical University Air Transportation Management, M.Sc. Program Aviation Economics and Financial Analysis Module 13 Outline A. Competitive Effects B.
More informationLow Fares The Engine For Passenger Growth 3 rd April 2003
Low Fares The Engine For Passenger Growth 3 rd April 2003 Europe s No 1. Low Fares Airline No. 1 Established 1990 No 1 for traffic 24m passengers this year No 1 for On-Times No 1 for Lowest Fares No 1
More informationTHE EFFECTIVENESS OF DUTCH AIR TRANSPORT POLICY
THE EFFECTIVENESS OF DUTCH AIR TRANSPORT POLICY STUDY PREPARED BY: THE BRATTLE GROUP BY JOHN HORN JAMES REITZES ADAM SCHUMACHER 2 December 22 6 th Floor 8 th Floor 15 Berners Street 1133 2 th Street, NW
More informationAirline Cooperation and MITA
Airline Cooperation and MITA Friday 12 May 2017: Module 13 Andrew Charlton Charles Stotler Matthew Feargrieve Richard Gimblett 8-13 May 2017 OVERVIEW I. Introduction II. Forms of Cooperation III. MITA
More informationCase Study: easyjet & Ryanair
Case Study: easyjet & Ryanair Flying high with Caglar Cintuglu Deniz Yarar Uli Breunig 28.11.06 EasyJet & Ryanair: flying high with 1 Introduction Source: Jobber, p410 28.11.06 EasyJet & Ryanair: flying
More informationeasyjet response to the European Commission consultation on the aviation package for improving the competitiveness of the EU aviation sector
easyjet response to the European Commission consultation on the aviation package for improving the competitiveness of the EU aviation sector Introduction easyjet started flying in 1995. Since then we have
More informationProspect ATCOs Branch & ATSS Branch response to CAP Terminal Air Navigation Services (TANS) contestability in the UK: Call for evidence
Prospect ATCOs Branch & ATSS Branch response to CAP 1605 Terminal Air Navigation Services (TANS) contestability in the UK: Call for evidence Introduction This document sets out the views of Prospect s
More informationAIR TRANSPORT MANAGEMENT Universidade Lusofona January 2008
AIR TRANSPORT MANAGEMENT Universidade Lusofona Introduction to airline network planning: John Strickland, Director JLS Consulting Contents 1. What kind of airlines? 2. Network Planning Data Generic / traditional
More informationCarbon pricing for transport: The case of US airlines
Carbon pricing for transport: The case of US airlines Robert A. Ritz Assistant Director, EPRG Cambridge Judge Business School EPRG-CEEPR-Enedis International Conference Paris, 7 July 2017 Based on ongoing
More informationPresentation Outline. Overview. Strategic Alliances in the Airline Industry. Environmental Factors. Environmental Factors
Presentation Outline Strategic Alliances in the Airline Industry Samantha Feinblum Ravit Koriat Overview Factors that influence Strategic Alliances Industry Factors Types of Alliances Simple Carrier Strong
More informationIATA ECONOMIC BRIEFING FEBRUARY 2007
IATA ECONOMIC BRIEFING FEBRUARY 27 NEW AIRCRAFT ORDERS KEY POINTS New aircraft orders remained very high in 26. The total of 1,834 new orders for Boeing and Airbus commercial planes was down slightly from
More informationResources: Lecture 27 Wednesday, Nov. 8, Discussion sections. Midterm Monday Covers: Externalities Costs and Supply Monopoly Oligopoly
Lecture 27 Wednesday, Nov. 8, 2006 Midterm Monday Covers: Externalities Costs and Supply Monopoly Oligopoly Know HW3 and HW4! Like Midterm 1 except there will be a short essay. (Hint: mentioned this during
More informationForward-looking Statements
September 21, 2011 Forward-looking Statements This presentation contains certain forward-looking statements with respect to the Corporation. These forward-looking statements, by their nature, necessarily
More informationAirline Performance and Capacity Strategies Dr. Peter Belobaba
Airline Performance and Capacity Strategies Dr. Peter Belobaba Istanbul Technical University Air Transportation Management M.Sc. Program Network, Fleet and Schedule Strategic Planning Module 18 : 13 March
More informationThe Economics of Regulating Air Traffic Control
The Economics of Regulating Air Traffic Control Stef Proost KULeuven and Transport Mobility Leuven Florence May 2017 COMPAIR Stef Proost 2 Economics of Regulation of Air Traffic Control - Outline Economics
More informationNo-fly zone? A curious case of alleged predation by a new entrant
Agenda Advancing economics in business An alleged predation case in aviation No-fly zone? A curious case of alleged predation by a new entrant Following the entry of UK airline, Flybe, onto a domestic
More informationREGULATORY POLICY SEMINAR ON LIBERALIZATION POLICY AND IMPLEMENTATION PORT OF SPAIN, TRINIDAD AND TOBAGO, APRIL, 2004
REGULATORY POLICY SEMINAR ON LIBERALIZATION POLICY AND IMPLEMENTATION PORT OF SPAIN, TRINIDAD AND TOBAGO, 27-29 APRIL, 2004 JAMAICA S EXPERIENCE WITH AIR TRANSPORT LIBERALIZATION INTRODUCTION Today, the
More informationState of the Aviation Industry
State of the Aviation Industry Presentation to the ACI Airport Economics & Finance 10 th 11 th February London, United Kingdom Laurie N. Price Director of Aviation Strategy Mott MacDonald Aviation Current
More informationOECD Global Forum on Competition
Unclassified Unclassified Organisation de Coopération et de Développement Economiques Organisation for Economic Co-operation and Development 02-Feb-2004 English - Or. English CENTRE FOR CO-OPERATION WITH
More information16.71 J The Airline Industry Fall Team #4: Philip Cho Imbert Fung Payal Patel Michael Plasmeier Andreea Uta December 6, 2010
16.71 J The Airline Industry Fall 2010 Team #4: Philip Cho Imbert Fung Payal Patel Michael Plasmeier Andreea Uta December 6, 2010 OPERATIONS Route Network & Fleet Composition Frequency & Schedules Maintenance
More informationKEY POLICY ISSUE JANUARY 2012
1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 energy crisis, stagflation Gulf crisis 9/11 and SARS
More informationFinancial Results Q2 FY December 2017
Financial Results Q2 FY18 07 December 2017 2 Key Highlights Q2FY18 Net profit after tax of INR 71cr Ten successive profitable quarters for the Group Net debt reduced during the quarter by INR 194cr Continued
More informationPartnership Proposal. Phases & Timetable. easyjet. Thursday, December 2, 2004
DULLES INTERNATIONAL AIRPORT PHONE 703.661.6901 44965 AVIATION DRIVE FAX 703.661.6884 DULLES, VIRGINIA 20166 WWW.FLYMY.COM easyjet Partnership Proposal Phases & Timetable Thursday, December 2, 2004 Partnership
More informationB6006 MANAGERIAL ECONOMICS
B6006 MANAGERIAL ECONOMICS Course Description: This is an introductory course in the application of microeconomics to business decision-making that is required of all MBA students (except for those who
More informationFinancial Results Q2 FY December 2017
Financial Results Q2 FY18 07 December 2017 2 Key Highlights Q2FY18 Net profit after tax of INR 71cr Ten successive profitable quarters for the Group Net debt reduced during the quarter by INR 194cr Continued
More informationAirline Alliances and Systems Competition Houston Law Review Symposium 30 Years of Airline Deregulation
Airline Alliances and Systems Competition Houston Law Review - 2008 Symposium 30 Years of Airline Deregulation by James Reitzes, The Brattle Group Diana Moss, American Antitrust Institute January 25, 2008
More informationAirport Slot Capacity: you only get what you give
Airport Slot Capacity: you only get what you give Lara Maughan Head Worldwide Airport Slots 12 December 2018 Good afternoon everyone, I m Lara Maughan head of worldwide airports slots for IATA. Over the
More information$0.7bn total spend. 141,400 arrivals. 4m total nights. 17% dispersed nights 1. Indonesia Market Profile. Performance overview
Market Profile Performance overview In 2013, Indonesia was Australia s 12th largest inbound market for visitor arrivals, the 14th largest market for total expenditure, and 19th for visitor nights. It was
More informationBEFORE THE FEDERAL AVIATION ADMINISTRATION WASHINGTON, D. C.
BEFORE THE FEDERAL AVIATION ADMINISTRATION WASHINGTON, D. C. In the Matter of Petition for Waiver of the Terms of the Order Limiting Scheduled Operations at LaGuardia Airport Docket FAA-2010-0109 COMMENTS
More informationRight-Sizing: The Right Move in the Airline Business
Right-Sizing: The Right Move in the Airline Business Northwestern University Icarus Society December 11, 2012 HCH T C George W. Hamlin Hamlin Transportation Consulting Fairfax, Virginia george@georgehamlin.com
More informationOpen skies would be a disaster for the U.S. carriers Interview with Bob Crandall, CEO American Airlines ( ), Apr 2 nd 2006
Should The US Adopt A Full Open Skies Agreement With The EU? Open skies would be a disaster for the U.S. carriers Interview with Bob Crandall, CEO American Airlines (1985-1998), Apr 2 nd 2006 America clearly
More informationBriefing: ICAO Council discussion on including aviation in the EU-ETS
Briefing: ICAO Council discussion on including aviation in the EU-ETS November 2011 Context On 2 November, the governing body of the International Civil Aviation Organization (ICAO), is scheduled to discuss
More informationOpportunity and Function of Airport in Lowcost Aviation Development
Opportunity and Function of Airport in Lowcost Aviation Development Huang Wei Chongqing Airport Group Co., Ltd. October, 2014 The Vast West China is prosperous for low-cost aviation Low-cost aviation is
More informationPRESENTATION ON. Divya Rana Alka Sukanya Agarwal
PRESENTATION ON Presented by: Presented by: Divya Rana Alka Sukanya Agarwal Introduction to United Breweries Group Founded in 1857 Chairman Dr. Vijay Mallya Headquartered Richmond Road, Bangalore Products
More informationAirports Commission. Discussion Paper 04: Airport Operational Models. Response from the British Air Transport Association (BATA) June 2013
Airports Commission Discussion Paper 04: Airport Operational Models Response from the British Air Transport Association (BATA) June 2013 Introduction The British Air Transport Association (BATA) welcomes
More informationAirport Slot Management in Europe. NEXTOR workshop Aspen Wye River, June 6-8, 2007 Prof. Jaap de Wit, University of Amsterdam
Airport Slot Management in Europe NEXTOR workshop Aspen Wye River, June 6-8, 2007 Prof. Jaap de Wit, University of Amsterdam Issues to be discussed: Existing slot allocation system in Europe Slot trading
More informationFinancial Results Q2 FY November 2016
Financial Results Q2 FY17 11 November 2016 2 Agenda Key performance highlights Jet Airways performance highlights 3 Key highlights Net profit after tax of INR 84.9 crores - Sixth successive profitable
More informationREAUTHORISATION OF THE ALLIANCE BETWEEN AIR NEW ZEALAND AND CATHAY PACIFIC
Chair Cabinet Economic Growth and Infrastructure Committee Office of the Minister of Transport REAUTHORISATION OF THE ALLIANCE BETWEEN AIR NEW ZEALAND AND CATHAY PACIFIC Proposal 1. I propose that the
More informationIs British Airways losing altitude?
Is British Airways losing altitude? An analysis of consumer perception of the airline based on YouGov data Contents Introduction... 3 How consumer perception of BA has changed Flight risks: which of BA
More informationPerspectives on Travel & Expenses
Flight plans how major airline changes could affect your supplier programme From new low-cost long-haul services to the disappearance of well-known European carriers, the global air market is shifting
More informationMaking travel easier and more affordable. easyjet s views on how aviation policy can improve the passenger experience and reduce costs
Making travel easier and more affordable easyjet s views on how aviation policy can improve the passenger experience and reduce costs Foreword by Carolyn McCall, CEO Contents Fifty years ago, flying was
More informationAn Exploration of LCC Competition in U.S. and Europe XINLONG TAN
An Exploration of LCC Competition in U.S. and Europe CLIFFORD WINSTON JIA YAN XINLONG TAN BROOKINGS INSTITUTION WSU WSU Motivation Consolidation of airlines could lead to higher fares and service cuts.
More informationLow-cost aiming for long-haul?
Low-cost aiming for long-haul? Guillaume Burghouwt Rogier Lieshout 9 December 2015, The Hague According to Mike Levine, the challenge in the airline industry is: To generate sufficient passenger route
More informationINQUIRY INTO THE OPERATION, REGULATION AND FUNDING OF AIR ROUTE SERVICE DELIVERY TO RURAL, REGIONAL AND REMOTE COMMUNITIES
INQUIRY INTO THE OPERATION, REGULATION AND FUNDING OF AIR ROUTE SERVICE DELIVERY TO RURAL, REGIONAL AND REMOTE COMMUNITIES SENATE STANDING COMMITTEES ON RURAL AND REGIONAL AFFAIRS AND TRANSPORT OVERVIEW
More informationTransforming Intra-African Air Connectivity:
z Transforming Intra-African Air Connectivity: The Economic Benefits of Implementing the Yamoussoukro Decision PREPARED FOR IATA in partnership with AFCAC and AFRAA PREPARED BY InterVISTAS Consulting LTD
More informationInformation 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 informationThank you for participating in the financial results for fiscal 2014.
Thank you for participating in the financial results for fiscal 2014. ANA HOLDINGS strongly believes that safety is the most important principle of our air transportation business. The expansion of slots
More informationTHE IMPACT OF OPEN SKIES FOR IB. Strategy and Corporate Development Direction
THE IMPACT OF OPEN SKIES FOR IB Strategy and Corporate Development Direction April 17th, 2008 Index OPEN SKIES 1. Brief historic analysis of Open Skies First steps and negotiations Major constraints and
More informationSHAKING UP THE BUSINESS MODEL
New Strategies for Airport Capital Financing & Development SHAKING UP THE BUSINESS MODEL Susan Warner Dooley, Nat l Dir, Aviation Strategic, Business & Financial Planning Airlines Don t Have Our Backs
More informationWEB APPENDIX D CAPACITY PLANNING AND PRICING AGAINST A LOW-COST COMPETITOR: A CASE STUDY OF PIEDMONT AIRLINES AND PEOPLE EXPRESS
WEB APPENDX D CAPACTY PLANNNG AND PRCNG AGANST A LOW-COST COMPETTOR: A CASE STUDY OF PEDMONT ARLNES AND PEOPLE EXPRESS ARLNE ENTRY STRATEGY During early 1981 People Express (PX) became one of the first
More informationEASYJET INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 30 JUNE 2013
24 July 2013 easyjet Interim Management Statement Page 1 of 6 EASYJET INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 30 JUNE 2013 A. HIGHLIGHTS: Total revenue for the third quarter grew by 10.5% to
More informationSTAYING TRUE. BofAML Global Transportation Conference. May
STAYING TRUE BofAML Global Transportation Conference May 19 2011 FORWARD-LOOKING STATEMENT Certain information in this presentation and statements made during this presentation, including any question
More informationExport Subsidies in High-Tech Industries. December 1, 2016
Export Subsidies in High-Tech Industries December 1, 2016 Subsidies to commercial aircraft In the large passenger aircraft market, there are two large firms: Boeing in the U.S. (which merged with McDonnell-Douglas
More informationTravelWatch- ISLE OF MAN
TravelWatch- ISLE OF MAN Arrey Troailt Ellan Vannin Representing and promoting the interests of Isle of Man Passengers To:- Roger Phillips, Clerk of Tynwald. Submission from TravelWatch Isle of Man to
More informationWinter is here: Intrepid s new boss speaks growth strategies
Winter is here: Intrepid s new boss speaks growth strategies Intrepid s new CEO, Doug Winter, explains how the firm could expand. US aircraft lessor Intrepid Aviation (Intrepid) named Doug Winter as its
More informationAustralian 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 informationDenis Connolly. Hecny Transportation Consultant 2003 Nov 2005
Denis Connolly A highly experienced General Manager with a pragmatic & commercial approach. Extensive international background gained via both interim and permanent roles with major companies- worked in:
More informationFinancial Results Q1 FY September 2017
Financial Results Q1 FY18 12 September 2017 2 Key Highlights Q1FY18 Net profit after tax of INR 58cr Ninth successive profitable quarter for the Group Gross debt reduced by INR 398cr and net debt almost
More informationQANTAS RESULTS FOR THE YEAR ENDED 30 JUNE 2000 HIGHLIGHTS. Net profit before tax of AUD$762.8 million, up AUD$100.3 million, 15 percent on last year
QANTAS RESULTS FOR THE YEAR ENDED 30 JUNE 2000 HIGHLIGHTS Net profit before tax of AUD$762.8 million, up AUD$100.3 million, 15 percent on last year Net profit after tax of AUD$517.9 million, up AUD$97
More informationPricing and Revenue Management
Pricing and Revenue Management Dr Robert Mayer Istanbul Technical University Air Transportation Management, M.Sc. Program Strategy Module April 2016 Lecture Overview Pricing and the Marketing Mix Revenue
More informationViews of London Forum of Amenity and Civic Societies to the House of Commons Environmental Audit Committee on the Airports Commission report
Views of London Forum of Amenity and Civic Societies to the House of Commons Environmental Audit Committee on the Airports Commission report Summary i) We strongly recommend that the Government reject
More informationTHE STATE OF EUROPEAN AIRLINE COMPETITION IN THE ERA OF CONSOLIDATION
THE STATE OF EUROPEAN AIRLINE COMPETITION IN THE ERA OF CONSOLIDATION Dr Nigel Dennis Senior Research Fellow Transport Studies Group University of Westminster 1 Ryanair, easyjet, Air Berlin and Emirates
More informationAerCap Holdings N.V. April 11, 2015
AerCap Holdings N.V. April 11, 2015 Disclaimer Incl. Forward Looking Statements & Safe Harbor This presentation contains certain statements, estimates and forecasts with respect to future performance and
More informationAirport Access The challenge for Business Aviation in the 21st century. Vlad Olteanu, Policy Manager
Airport Access The challenge for Business Aviation in the 21st century Vlad Olteanu, Policy Manager EUACA Seminar, Amsterdam, 30 September 2009 THE VOICE OF EUROPE S AIRPORTS More than 400 AIRPORTS / 46
More informationAir Transport Industry
Air Transport Industry Structure, Economics, Operations Northwestern University Transportation Center April 28, 2016 Peter L. Smith Context The Presenter BA Harvard, MST Northwestern, MBA Foster School
More informationFlybe: Delivery and Future Direction
Flybe Delivery and Future Direction Making Flybe Fit to Compete Update 23 May 2013 Agenda Context and Introduction Flybe UK - Making Flybe Fit to Compete Flybe Outsourcing Solutions Recap Conclusions and
More informationEVALUATION ROADMAP. A. Purpose
TITLE OF THE EVALUATION/FC LEAD DG RESPONSIBLE UNIT TYPE OF EVALUATION EVALUATION ROADMAP Evaluation of the Regulation (EC) No 1008/2008 on common rules for the operation of air services in the Community
More informationDe luchtvaart in het EU-emissiehandelssysteem. Summary
Summary On 1 January 2012 the aviation industry was brought within the European Emissions Trading Scheme (EU ETS) and must now purchase emission allowances for some of its CO 2 emissions. At a price of
More informationSummary How possible changes to aviation security would affect businesses and passengers if the UK leaves the EU in March 2019 with no deal.
Aviation security if there s no Brexit deal Summary How possible changes to aviation security would affect businesses and passengers if the UK leaves the EU in March 2019 with no deal. Detail If the UK
More informationUBS Transport Conference September 15 th Jean-Cyril Spinetta
UBS Transport Conference September 15 th 2008 Jean-Cyril Spinetta Air France-KLM key operating data Fiscal year 2007-08 The number one airline worldwide in terms of revenues* and number one in Europe in
More informationScotia Capital Transportation & Aerospace Conference. June 5, 2007
Scotia Capital Transportation & Aerospace Conference June 5, 2007 1 2 Changing the Game Changing the Game Canada s #1 domestic, trans-border and international airline Strong brand recognition Innovative
More information2008 UK & EUROPEAN MARKETING UPDATE
2008 UK & EUROPEAN MARKETING UPDATE Presented by Julia Hendry Director of Marketing UK & Europe Annual Caribbean Tourism Summit, Washington DC 21-25 June 2008 1 2008 OFF TO A GOOD START Full programme
More informationGECAS is a preeminent aircraft asset manager & financier
GE Infrastructure Analyst Meeting November 2, 2005 GE Commercial Aviation Services Henry Hubschman President and CEO, GECAS 1 GECAS is a preeminent aircraft asset manager & financier 1,300+ owned and 300
More informationAirline Network Structures Dr. Peter Belobaba
Airline Network Structures Dr. Peter Belobaba Istanbul Technical University Air Transportation Management M.Sc. Program Network, Fleet and Schedule Strategic Planning Module 8: 11 March 2014 Lecture Outline
More information1. INTRODUCTION 2. OTAS AND THE MFN CLAUSE
HOTEL ONLINE BOOKING SECTOR: THE COMMITMENTS OF BOOKING AND THE MOST FAVORED NATION CLAUSES. A CASE CONDUCTED IN COOPERATION WITH OTHER NATIONAL COMPETITION AUTHORITIES Giulia Cipolla 1 Keywords: Italian
More informationFinancial Review. Changing the Game
Financial Review Changing the Game 1 $7,238 +8.1% Revenue (1) $ Millions $7,824 $10,095 30-Sep-05 30-Sep-06 12 Months Ended Sept. 9 months ended 30, 2006 2 8.1% revenue growth achieved with only 3.8% ASM
More informationEuropean Economic and Social Committee Public Hearing New developments in air transport Brussels, 12 April 2012 State aid and the aviation sector
European Economic and Social Committee Public Hearing New developments in air transport Brussels, 12 April 2012 State aid and the aviation sector Fabienne ILZKOVITZ European Commission, DG Competition
More informationCrisis and Strategic Alliance in Aviation Industry. A case study of Singapore Airlines and Air India. Peter Khanh An Le
Crisis and Strategic Alliance in Aviation Industry A case study of Singapore Airlines and Air India National University of Singapore 37 Abstract Early sights of recovery from the US cultivate hope for
More informationThe Strategic Commercial and Procurement Manager
Item 3 To: Procurement Sub Committee On: 8 June 2016 Report by: The Strategic Commercial and Procurement Manager Heading: Renfrewshire Council s Community Benefit Strategy 2016 1. Summary 1.1. The purpose
More informationBoeing versus Airbus: Who has the Correct View of Future Aviation Markets?
Boeing versus Airbus: Who has the Correct View of Future Aviation Markets? David Gillen YVR Professor & Director, Sauder School of Business-UBC Seminar Chartered Institute of Logistics and December 5,
More information