ABSTRACT
This chapter is concerned with the major transformation that air transportation has gone through over the past 40 years, and the directions in which it continues to evolve. While many of these changes have been technical in nature, others have been institutional with significant reforms to the regulation of industrial structures and the provision of international services. While the chapter covers all three legs of the ‘air transportation stool’ – airlines, airports, and air traffic control – the main focus is on the airlines. We also move beyond traditional boundaries of economic regulation, fares and market access regulation, to offer comments on safety, environmental, and security matters.
