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Authors: Polkowska, Małgorzata
Issue Date: 2006
Publisher: Wydział Prawa i Administracji UAM
Citation: Ruch Prawniczy, Ekonomiczny i Socjologiczny 68, 2006, z. 3, s. 117-136.
Abstract: The current trends in the economy today, including those in the airline industry, indicate internationalization of markets which effects a number of very important fields. Trans-border capital flows have coincided with an increasing number of multinational airline companies which are now forming venture capital and introduce mixed managements consisting of nationals of different countries. Currently there are many companies which do not draw any clear line dividing their liability. The airline industry is also following these trends and will be soon losing its national character. The forecast of the changes is slow liberalisation of the air transport in Europe and the opening competition among the air carriers in other regions of the world, such as Australia or New Zealand. For the air carriers, one way of globalization and ensuring a competitive edge in the competition in the new global reality are the strategic alliances. After 11 September 2001 airline fleet have become to cost more and air carriers have become deficient. Consequently, new capital for modernisation must be found. However, there are cases where local investors do not want to guarantee a capital flow. Even in the countries in which the government owns the air carriers, the costs are sometimes too high to bear. Successful privatisation of national airlines must be preceded by creation of conditions which investors will find attractive enough to invest. Every restriction for the new investors, also as regards their nationality, reduces the possibility of attracting capital both from those investors and also from local financial markets. These markets at the same time cannot provide a sufficient amount of the capital which is necessary for proper completion of large multinational projects. It seems, however, that the objections against the liberalization concerning the foreign investments expressed by governments will soon, even i f slowly, disappear.
ISSN: 0035-9629
Appears in Collections:Ruch Prawniczy, Ekonomiczny i Socjologiczny, 2006, nr 3

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