PERSPEKTYWY GLOBALIZACJI KOMUNIKACJI POWIETRZNEJ
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Date
2006
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Wydział Prawa i Administracji UAM
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PERSPECTIVES ON GLOBALIZATION THE AIRLINE INDUSTRY
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.
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Ruch Prawniczy, Ekonomiczny i Socjologiczny 68, 2006, z. 3, s. 117-136.