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| Author: | Liu, C. |
| Title: | Entry behaviour and financial distress: an empirical analysis of the US domestic airline industry |
| Journal: | Journal of Transport Economics and Policy
2009 : MAY, VOL. 43:2, p. 237-256 |
| Index terms: | market entry airlines airports company growth competitiveness |
| Language: | eng |
| Abstract: | This paper tests the empirical relationship between a firm's financial conditions and its likelihood of entering new markets in the US airline industry. The analysis is conducted using airline data from the top 500 airport-pairs during 1993-2003. The results indicate that a legacy carrier is less likely to enter new airport-pairs when its leverage increases. On the other hand, little evidence is found of such relationship for a low-cost carrier. |
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