Contract Design, Financing Arrangements and Public Ownership—An Assessment of the US Airport Governance Model

US airports negotiate legally binding contracts with airlines and finance large investment projects with revenue bonds. Applying insights from transaction cost economics, we argue that the observed variation in contractual and financing arrangements at US airports corresponds to the parties' needs for safeguarding and coordination. The case evidence presented reveals that public owners set the framework for private investments and contracting. We suggest that airline contracts and capital market control result in comparative efficient investments and act as a check on the cost inefficiency typically linked to public ownership.

• Record URL:
  • http://www.informaworld.com/10.1080/01441640802465656
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/7802200
• Supplemental Notes:
  • Abstract reprinted with permission from Taylor and Francis
• Authors:
  • Fuhr, Johannes
  • Beckers, Thorsten
• Publication Date: 2009-7

Language

• English

Media Info

• Media Type: Print
• Features: Figures; References; Tables;
• Pagination: pp 459-478
• Serial:
  • Transport Reviews
  • Volume: 29
  • Issue Number: 4
  • Publisher: Routledge
  • ISSN: 0144-1647
  • EISSN: 1464-5327
  • Serial URL: http://www.tandfonline.com/loi/ttrv20

Subject/Index Terms

• TRT Terms: Airports; Case studies; Contracts; Economic analysis; Financing; Governments; Investments; Ownership
• Geographic Terms: United States
• Subject Areas: Administration and Management; Aviation; Finance;

Filing Info

• Accession Number: 01138170
• Record Type: Publication
• Files: TRIS
• Created Date: Aug 12 2009 12:46PM