Developments in low cost airlines: An empirical study of how share prices are affected by certain airline characteristics
Başlık çevirisi mevcut değil.
- Tez No: 401860
- Danışmanlar: DR. MIREIA JOFRE-BONET
- Tez Türü: Yüksek Lisans
- Konular: İşletme, Sivil Havacılık, Business Administration, Civil Aviation
- Anahtar Kelimeler: Belirtilmemiş.
- Yıl: 2007
- Dil: İngilizce
- Üniversite: Cıty Unıversıty London
- Enstitü: Yurtdışı Enstitü
- Ana Bilim Dalı: Ekonomi Ana Bilim Dalı
- Bilim Dalı: Belirtilmemiş.
- Sayfa Sayısı: Belirtilmemiş.
Özet
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Özet (Çeviri)
Low-cost carriers (LCCs) and in particular, the European brand, have been changing the course of the airline history in and above the continent. The“no-frills”companies, as they are known, such as easyJet and Ryanair have made middle-destination travel by air as easy and cheap as travelling by train the same distance and have contributed to developing new strata of consumers. First considered a joke or nothing more than a fad, low-cost airlines have entered the European market and still withstand the competition forces. More than that, growing by 100% a year, these companies now represent almost 10% of the market on the continent, hoping to increase their share to 25% by 2010. More and more budget companies have been born in the recent months from Scotland in the west to Slovakia in the east. Their most important weapon is low price, starting from as low as $15-20 for a single flight. Many low cost airlines have not found it difficult to commence business at cost levels lower than those of their established competitors. With a few exceptions the latter have embarked on comprehensive cost cutting and managed to lower initial cost differentials. As a number of low cost carriers have started to enhance their products with additional frills (while traditional carriers are now offering simpler products) the competitive position of some of the low cost airlines is likely to face a challenge This paper addresses and tries to solve a regression equation that uses a number of variables that form part of the characteristics of the Low Cost Carrier model, in order that a determination may be made to establish a linkage between these variables and price fluctuations of their respective equities. Our model and methodology conclude that over the past seven years variations have been observed in the FTSE. However, we suggest that more research, on the drivers of changes in expected share prices be carried out as a further improvement of our understanding of the airline industry and respective underlying macroeconomic trends.
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