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| Tekijä: | Guzhva, V.S. Pagiavlas, N. |
| Otsikko: | US Commercial airline performance after September 11, 2001: decomposing the effect of the terrorist attack from macroeconomic influences |
| Lehti: | Journal of Air Transport Management
2004 : SEP, VOL. 10:5, p. 327-332 |
| Asiasana: | Airlines Performance measurement Terrorism Macroeconomics USA |
| Kieli: | eng |
| Tiivistelmä: | The U.S. airlinesÂ’ revenue passenger miles (hereafter as: p-m./p-ms.) series are examined to objectively assess the effect of the September 11th terrorist attack on the performance of the industry. A Vector Autoregression model (VAR) with revenue p-m. and real gross domestic product (GDP) series is utilized. The estimated effect of the attack supports the federal government's appropriation of USD 5 billion cash compensation to the airlines. Analysis at the individual air carrier level confirms that not all the U.S. major and regional airlines were affected in the same manner. United, Northwest, US Airways, and Delta account for more than 63 percent of the aggregate decline in the U.S. airline industry performance. Three airline carriers: JetBlue, Aloha and Atlantic Southeast were able to significantly improve their performance immediately after the attack. |
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