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The regulation of modern civil aviation can be traced back to the later years of the Second World War. An intense debate about the future regulatory regime resulted in a compromise which to this day essentially dictates the structure of the global airline industry. Further progress towards normalising' the industry appears to be slowing down, and perhaps even going into reverse. Without an understanding of the development of regulation, it is not possible to understand fully the industry's current problems and how they might be resolved. Many books have been written about the development of international air transport, covering deregulation, privatisation, the emergence of new business models among other things, but few if any have taken a broad view of the trends which have determined the industry's current structure. The Regulation of Air Transport charts the development of aviation from the end of the Second World War to the present day, following the key trends and disruptive forces. It provides an overview of what has determined the industry's current structure, the problems still facing the industry and the ways in which it could develop in the future. This wide-ranging study is important reading for both professionals and academics within the aviation field, as well as anyone interested in the broader development of economic regulation.

"In recent years the airline industry has experienced severe volatility in earnings, with airlines recording periods of substantial profits that are closely followed by periods of financial distress. This trend has continued into the new millennium, with numerous examples of airlines across the globe entering bankruptcy protection or liquidating. The text provides an introduction to both the basics of finance and the particular intricacies of airline finance where there can be significant fluctuations in both revenues and costs. This new edition also includes: capital budgetingmanagement of current assetsfinancial risk analysisfuel hedgingaircraft leasingThis textbook contains chapters that cover unique aspects of the aviation financial decision-making process. These include a rigorous and structured presentation of the buy versus lease decision that is prevalent in the industry, a valuation process for aviation assets, the recent trend toward privatization and the difficulty inherent in the valuation of a publicly-owned or semi-publicly owned asset.The Foundations of Airline Finance, now in its second edition, is an introductory text that can be used either as a general financial text or in a specialized class that deals with aviation finance in particular. "--