Regulation under stress: developments in Australian airport policy

Regulation under stress: developments in Australian airport policy

Journal: Air Transport Management

Author: Peter Forsyth

Published: 2003

Abstract

Regulation of airports in Australia has been under stress: the problems which have emerged have resulted in the replacement of regulation by less prescriptive price monitoring. The development of policy towards airports, and the debates surrounding them, are analysed. Two major reports, on Sydney airport pricing, and on airport price regulation in general, are discussed. Attention is given to a number of problems areas which have arisen. These include investment incentives under regulation; the level and variability of profits; the existence, use and efficiency cost of market power; and the problems of cost based regulation. The issues posed by the privatisation of Sydney airport, which is subject to excess demand, are also considered. The shift to price monitoring has been a response to these problems, though the content, and likely impact, of monitoring has yet to be determined.

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