Economic Regulation of Urban and Regional Airports (CAPÍTULO)

Abstract 

This article overviews the state of private participation and economic regulation of 118 airports in 6 major countries in Latin America. It was found that concession contracts, regional companies, system of airports and revenue-sharing clauses with the government are common features among airports. Under the body of rules needed to enforce regulation, regulatory agencies exhibit low levels of governance and weak economic regulation. Rate of return regulation is more common than price cap regulation as the type of economic regulation at airports under study. Alternatives to existing type of regulations and their pros and cons are discussed.