Published at Saturday, April 06th, 2019 - 06:19:34 AM. Type of airline. By Adelbert Scholz.
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.
Passengers and government alike increasingly decried regulation during the mid-1970s citing the examples set by Air California PSA Southwest and other intrastate airlines as demonstrable proof that deregulation could produce mutual airline- and passenger-benefit. At least that was the theory.
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