The impacts of the Asian Economic Crises on Asian Airlines: short-run responses and long-run effects |
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| Affiliation: | 1. Department of Economics, National University of Singapore, 10 Kent Ridge Cresent 119620, Singapore;2. Senior Visiting Fellow, Department of Economics, National University of Singapore, Singapore;3. UPS Foundation Professor, Faculty of Commerce and Business Administration, University of British Columbia, Vancouver, Canada;1. Technology Center of Yunnan Tobacco Industry Co., Ltd., Yunnan, China;2. Yunnan Academy of Agricultural Sciences, Institute of Biotechnology and Genetic Resources, Yunnan, China;1. Marmara University, Faculty of Business Administration, Business Informatics, Göztepe Campus, Fahrettin Kerim Gökay Caddesi, Kadıköy, İstanbul, Turkey;2. Istanbul Technical University, Department of Economics, Maçka, Istanbul, Turkey;1. Economics Programme, School of Distance Education, Universiti Sains Malaysia, Malaysia;2. Department of Accounting, College of Business Management & Accounting, Universiti Tenaga Nasional, Malaysia;1. Institut de recherche en Génie Civil et Mécanique, UMR 6183 CNRS-ECN-UN, Ecole Centrale de Nantes, 1 rue de la Noë, BP 92101, 44321 Nantes, France;2. Structural Dynamics and Vibration Laboratory, McGill University, 817 Sherbrooke West, H3A-0C3 Montréal, Québec, Canada;3. Département de génie mécanique, École Polytechnique de Montréal, H3C 3A7 Montréal, Québec, Canada |
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| Abstract: | The optimism shared by agencies such as IATA and the Air Transport Action Group on the growth in the demand for air travel has been temporarily derailed by the Asian economic crisis which appears to have dimmed the prospects for growth of many Asian carriers. Prospects for growth and expansion appeared to be excellent and were the driving force in setting the agenda for privatization, liberalization and the formation of new airlines. This paper discusses responses by Asian airlines with respect to redefining the scope of operations, capacity decisions, cost competitiveness, alliances and service decisions. It concludes with an argument that economic crisis appears to have shifted air transport policies in the direction of greater liberalization. |
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