Airport Economics, Finance & Ownership
European airports have undergone a major business transformation over the last two decades – from mere infrastructure provides to fully-fledged businesses, competing for business and traffic in a liberalised European market. Today, 80% of European airport operators are corporatised businesses – with an ever-growing involvement of the private sector, particularly at the major airports.
Within this context Airport Economics have become central, with questions of Finance and Ownership having a huge impact on the future of Europe’s airport infrastructure development. The challenges of financing large long-term infrastructure projects have increased substantially: while public funding has become more limited due to increased budgetary constraints at national and EU levels, access to capital markets has become more difficult in the wake of the global financial crisis.
At the same time, European airports are one of the most important economic actors in the region they serve. Their economic impact is far-reaching – airports employ a multitude of staff directly, support many on-site jobs and facilitate the development of tourism and other economic activities in the region.