Published at Sunday, March 31st, 2019 - 22:33:46 PM. Type of airline. By Anselmo Schubert.
One argument is that positive externalities such as higher growth due to global mobility outweigh the microeconomic losses and justify continuing government intervention. A historically high level of government intervention in the airline industry can be seen as part of a wider political consensus on strategic forms of transport such as highways and railways both of which receive public funding in most parts of the world. Although many countries continue to operate state-owned or parastatal airlines many large airlines today are privately owned and are therefore governed by microeconomic principles to maximize shareholder profit.
Increasingly since 1978 US airlines have been reincorporated and spun off by newly created and internally led management companies and thus becoming nothing more than operating units and subsidiaries with limited financially decisive control. Among some of these holding companies and parent companies which are relatively well known are the UAL Corporation along with the AMR Corporation among a long list of airline holding companies sometime recognized worldwide. Less recognized are the private equity firms which often seize managerial financial and board of directors control of distressed airline companies by temporarily investing large sums of capital in air carriers to rescheme an airlines assets into a profitable organization or liquidating an air carrier of their profitable and worthwhile routes and business operations.
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