Dubai PR Network, Online Press Release from Dubai and Middle East
 
Aviation, Airline & Aerospace(Travel & Tourism)
Filter PR by
  
IATA, Deloitte Develop Airport Ownership and Regulation Guidance Recognizing the Strategic National Importance of Airports
 

04 June 2018 Dubai, United Arab Emirates:  The International Air Transport Association (IATA) and Deloitte have published guidance materials for governments considering public-private partnerships (PPP) and other forms of privatization programs for airport infrastructure.  

“Airports provide critical infrastructure. It is important that governments considering privatization or PPP take a long-term view and focus on solutions that will maximize the economic and social benefits of connectivity. The aim of Airport Ownership and Regulation is to help governments make better-informed decisions using best-practices gleaned from decades of experience with the good, the bad and the ugly of airport privatizations,” said Alexandre de Juniac, IATA’s Director General and CEO. 

Airport Ownership and Regulation builds on industry best practice and the results of research into the effectiveness of different ownership and operating models from the perspective of a range of stakeholders. The phenomenal demand for air connectivity is outpacing the capacity of current airport infrastructure and many governments are challenged in finding the effective financing means to enable critical expansion. 

“The global growth of airports is increasingly putting airports under pressure, increasing the need for governments to explore alternative financing solutions and enhance management efficiency. The current pipeline of airport privatization being considered globally makes this Guidance Booklet timely, and we believe it will support governments to better assess private sector participation options.

There is a critical need to ensure strategic objectives are appropriately assessed and the benefits and risks understood when evaluating airport ownership and operating model options. Whatever ownership or operating model is applied, governments, investors and aviation stakeholders need to put the end-consumer central to the selection of the optimal solution”, said Dorian Reece, Global Airport Lead at Deloitte.

Airport Ownership and Regulation explores three key areas in detail: 

Assessing the options for models of privatization: Governments should take a broad view of airport ownership and operating models, matching them to the strategic management, financial and macro-economic objectives of inviting private participation in airport infrastructure provision and management. 

The spectrum of options is wide, ranging from full government ownership, to forms of corporatization, hybrid models (e.g. service/management contracts); and to those with greater private participation (e.g. equity sales, concessions and full divestiture). 

Each has its merits and there is no one-size-fits-all solution. What is critical is the rigor of the assessment process. A key element of that is ensuring that the interests and input of all stakeholders, including airlines and customers, are thoroughly evaluated before decisions are made.

Best Practices for the Process of Privatization: A competitive and transparent transaction process is a “must have” to assure public value for money. Governments must assure that bids are assessed on balanced criteria and that the key terms of any concession contract ensure improvement in efficiency, quality of service and appropriate investment in the airport for the airlines and the end-consumers. 

Regulation of Privatized Airports: The assessment of an airport’s market power and the development of the appropriate regulatory framework should take place in parallel with an assessment of potential ownership and operating models. 

Economic regulation is needed to prevent market abuse, secure efficiencies and ensure service quality. When combined with limited or weak economic regulation, all models (private or public) can lead to adverse outcomes; however, there are additional risks with airports that have private ownership. 

Best practice indicates that regulators must be centralized, appropriately funded, independent, have a clearly defined mandate; and be endorsed by governments and defined in legislation. Regular assessment of an airport’s market power is needed to ensure that the regulatory function remains fit-for-purpose.

Airport Ownership and Regulation was commissioned by IATA and researched by Deloitte. It is freely downloadable from the IATA Website.

Airport Ownership and Regulation was released on the sidelines of IATA’s 74th Annual General Meeting and World Air Transport Summit, which has gathered over 1,000 industry leaders in Sydney, Australia. IATA represents some 290 airlines comprising 82% of global traffic.


Posted by : Dubai PR Network Editorial Team
Viewed 4666 times
PR Category : Travel & Tourism
Posted on : Monday, June 4, 2018  12:54:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Etihad Airways Paris Flights to Go All -AIRBUS A380
Next Story : Solid Profits Despite Rising Costs
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
The FW18 Trend Report From Weill Paris [20496-Views]
Climax Mascara Never Fake It [13621-Views]
Discover the Secret to Younger-looking, Radiant Skin [13426-Views]
Keep your skin looking healthy and hydrated, naturally [13396-Views]
Jessica Kahawaty in Dubai to Celebrate the Launch of SUKIN, Australia's No.1 Natural Skinc... [10766-Views]
LOOTAH Perfumes brings a collection of delicate scents to fulfill the needs of the fragran... [10156-Views]
Brow Contour Pro 4-in-1 defining & highlighting brow pencil [9925-Views]
The Balmain Haute Elegance Oval mirrors the brand's soul [9479-Views]
BodyO launches officially its AiPod for a full body check-up during the Gitex Future Stars [9016-Views]
The Rado DiaMaster Petite Seconde Automatic COSC The Rado watch at the top of the precisio... [8814-Views]
Get flawless skin with Rodial's new Booster Drops [8369-Views]
The World of Aigner Wunderkammer [8028-Views]
Lexus Design Award 2019 open for entries [7948-Views]
Elegant and feminine new Mini Bubble set to make a big splash [7320-Views]
Trend Alert! Giddy up on the best platform with your new horse-inspo ensemble from kate sp... [7216-Views]
Manero Peripheral (43 Mm) Classic Watchmaking Meets State of,the Art Technology [7027-Views]
Introducing the GUESS Jeans Fall 2018 Collection' [6747-Views]
Curate your perfect Autumn Winter wardrobe, with Robinsons [6606-Views]
Dubai Shopping Festival Returns With Much-awaited Mega Raffles [6539-Views]
Corum Heritage Eleganza- Dedicated to the stylish woman [6143-Views]
Daniel Craig Brings the Diver 300m to the Surface [6124-Views]
DS Podium Chronograph 1/100 sec [6106-Views]
Mohammad Abdullah, President of Dubai Institute of Design and Innovation (DIDI) [6015-Views]
Dubai's newest social hub - Bar Baar introduces ‘Thela Baar Brunch' [5880-Views]
Joyalukkas Celebrates the Festival of Light with Irresistible Offers [5764-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories