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A hierarchical cluster analysis of the financial performance of US hub airports in relation to lease agreement types

Author

Listed:
  • Richardson, Charles
  • Budd, Lucy
  • Pitfield, David E.

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.

Suggested Citation

  • Richardson, Charles & Budd, Lucy & Pitfield, David E., 2014. "A hierarchical cluster analysis of the financial performance of US hub airports in relation to lease agreement types," Journal of Airport Management, Henry Stewart Publications, vol. 8(1), pages 42-56, January.
    • Handle: RePEc:aza:jam000:y:2014:v:8:i:1:p:42-56
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    Citations

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    Cited by:

    1. Chiambaretto, Paul & Combe, Emmanuel, 2023. "Business model hybridization but heterogeneous economic performance: Insights from low-cost and legacy carriers in Europe," Transport Policy, Elsevier, vol. 136(C), pages 83-97.

    More about this item

    Keywords

    airline lease agreements; US hub airports; financial performance; cluster analysis;
    All these keywords.

    JEL classification:

    • R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics
    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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