chapter  12
30 Pages

How the Market Values Airport Slots: Evidence from Stock Prices

WithDavid Gillen, Despina Tudor

The regulatory parameters enacted by various national authorities governing access to airports by air carriers, amidst the background of privatization and rising congestion, have changed dramatically over time. The success and failure of these regulatory policies in providing adequate access at airports has in many cases lead to a market in slots, both in the United States and in Europe, although in Europe the legal nature of these developments is controversial and in the US, Congress has removed all rules governing airport access.