Benchmarking of Aeronautical Charges at Latin American Airports

278 Pages·2011·4.38 MB·English

by  World Bank Group

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Tomás Serebrisky
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Airport Economics in Latin America
and the Caribbean

Airport Economics in Latin
America and the Caribbean
Benchmarking, Regulation, and Pricing
Tomás Serebrisky
© 2012 International Bank for Reconstruction and Development / International Development
Association or
The World Bank
1818 H Street NW
Washington DC 20433
Telephone: [phone]
Internet: www.worldbank.org
1 2 3 4 14 13 12 11
This volume is a product of the staff of The World Bank with external contributions. The
findings, interpretations, and conclusions expressed in this volume do not necessarily reflect
the views of The World Bank, its Board of Executive Directors, or the governments they
represent.
The World Bank does not guarantee the accuracy of the data included in this work. The
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do not imply any judgment on the part of The World Bank concerning the legal status of
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All other queries on rights and licenses, including subsidiary rights, should be addressed to
the Office of the Publisher, The World Bank, 1818 H Street NW, Washington, DC 20433,
USA; fax: [phone]; e-mail: [email protected].
ISBN (paper): 978-0-8213-8977-5
ISBN (electronic): 978-0-8213-8933-1
DOI:10.1596/978-0-8213-8977-5
Library of Congress Cataloging-in-Publication Data has been applied for.
Cover photo provided by the author (courtesy of ADC&HAS).
Cover design by Debra Naylor.
Contents
Preface xiii
Acknowledgments xvii
About the Author xix
Abbreviations and Acronyms xxi
Overview 1
The Air Transport Sector 2
Investment in the LAC Airport Sector 4
Summary of This Report 6
Conclusions 16
Note 19
References 20
Chapter 1 Recent Evolution of the Air Transport Sector 21
Latin America and the Caribbean Overview 26
Notes 34
References 34
Chapter 2 Investment in the Airport Sector 35
Private Project Financing in the Airport
Sector Worldwide 42
v
vi Contents
Private Investments in the Airport Sector in
Developing Countries 44
Private Investment in the Airport Sector in
Latin America and the Caribbean 49
Conclusions 52
Notes 53
References 54
Chapter 3 Efficiency Estimation 55
Partial Performance Indicators in LAC Airports:
Cross-Comparison for 2005 60
Partial Performance Indicators: Time Series 84
Measuring Technical Efficiency of Airports
in LAC Countries 111
Conclusion 130
Notes 132
References 135
Chapter 4 Institutional Design and Governance of
Airport Regulators in Latin America 137
Literature Review 139
Methodology and Data Sources 141
Regulatory Governance 143
Economic Regulation 157
Conclusions 161
References 163
Chapter 5 Benchmarking of Aeronautical Charges at
Latin American Airports 165
Overview 165
Methodology 167
Conclusion 195
Notes 197
References 198
Appendix A Survey of Airport Performance for Operators 199
Appendix B Governance of Airport Regulators Survey 209
Appendix C Technical Efficiency Calculation 237
Contents vii
Appendix D Data Sources 245
Air Transport Research Society (ATRS) 245
Airports Council International (ACI) 246
Private Participation in Infrastructure
Database (PPI) 246
Dealogic ProjectWare Database 247
Asociación Latinoamericana de Transporte
Aéreo (ALTA) 248
Airport Charges 249
Figures
1 Air Transport Sector Demand and World GDP,
1980–2008 2
2 Domestic and International Passenger Share, 2008 3
3 Partial Performance Indicator: Passengers
per Employee, 2005 8
4 Evolution of Turnaround Costs for an Airbus A320,
1995–2009 15
5 Structure of Turnaround Costs for an Airbus A320 17
1.1 Growth Rates in the Air Transport Sector and Global
GDP, 1980–2008 22
1.2 Passenger Traffic Growth, by Region, 2007 and 2008 23
1.3 Domestic and International Passenger Share, 2008 24
1.4 Volume of Cargo Moved, by Region, 2008 25
1.5 Aircraft Movements, by Region, 2008 26
1.6 GDP Growth and Passenger Growth in LAC,
1995–2008 27
2.1 Project Financing in the Airport Sector by Number
of Projects, Total Project Amount, and Region,
1996–2008 43
2.2 Share of Project Financing in the Airport Sector,
by Region, 1996–2008 44
2.3 Private Investment Commitments to Infrastructure
Projects in Developing Countries, by Sector, 1990–2008 47
2.4 Investment Commitments to Transport Projects with
Private Participation in Developing Countries,
by Subsector, 1990–2008 48
2.5 Total Investment Commitments to Airport Projects
with Private Participation in Developing Countries,
by Region, 1991–2008 49
viii Contents
2.6 Investment Commitments to Airport Projects
with Private Participation in Developing Countries,
by Type of Project, 1991–2007 50
2.7 Investment Commitments to Transport Projects with
Private Participation in Latin America and the Caribbean,
by Subsector, 1990–2008 51
2.8 Investment Commitments to Airport Projects with
Private Participation in Latin America and the
Caribbean Countries, by Type of Investment,
1993–2008 52
3.1 Passengers per Aircraft Movement, 2005 63
3.2 Cargo per Aircraft Movement, 2005 65
3.3 Passengers per Employee, 2005 67
3.4 Aircraft Movements per Runway, 2005 68
3.5 Labor Costs as a Share of Operating Costs, 2005 70
3.6 Labor Cost per Passenger, 2005 71
3.7 Operating Costs per Passenger, 2005 73
3.8 Operating Costs per Aircraft Movement, 2005 75
3.9 Total Revenue per Passenger, 2005 76
3.10 Aeronautical Revenue Share, 2005 78
3.11 Aeronautical Revenue per Aircraft Movement, 2005 79
3.12 Passengers per Boarding Bridge, 2005 81
3.13 Passengers per Square Meter of Terminal Area, 2005 82
3.14 Evolution of the U.S. Dollar–Euro Exchange Rate,
1999–2009 89
3.15 Passengers per Employee 91
3.16 Labor Costs per Passenger 95
3.17 Operating Costs per Passenger 98
3.18 Total Revenue per Passenger 102
3.19 Total Revenue per Employee 105
3.20 Passengers per Boarding Bridge 108
3.21 DEA-CRS and DEA-VRS Frontiers 113
3.22 Malmquist Index of Total Factor Productivity Change 125
4.1 Decision-Making Autonomy 146
4.2 Appointment Authorities 147
4.3 Budget Composition 149
4.4 Procedure to Remove Decision Makers 150
4.5 Reasons Directors Leave Positions 151
4.6 Bureaucratic Quality 152
4.7 Bureaucratic Quality by Type 153