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A hierarchical cluster analysis of the financial performance of US hub airports in relation to lease agreement types
Journal of Airport Management,
8
(1),
42-56
(2014)
Abstract
This paper performs a cluster analysis to examine the financial implications of the different types of airline lease agreements used by US hub airports. Four key groups of financial performance indicators relating to financial profitability, including revenue generation, capital investment, commercial performance and cost-effectiveness, are analysed using 2011–12 financial data for large hub airports. The results show that, while financial performance varies according to traffic mix, airports with the same agreement types are clustered together. The paper concludes by noting that airports’ control of their financial performance varies by agreement type and the identified clusters support the sub-categorisation of airport performance indicators.
Keywords: airline lease agreements; US hub airports; financial performance; cluster analysis
The full article is available to subscribers to the journal.
Author's Biography
Lucy Budd is Senior Lecturer in Air Transport and Programme Director of the MSc in Air Transport Management in the School of Civil and Building Engineering at Loughborough University. Lucy has published widely in the area of airport and airline operations and she is co-editor (with Stephen Ison) of the new book Air Transport Management: An International Perspective (2016, Taylor and Francis).
