RICHARDSON, C., BUDD, L.C.S. and PITFIELD, D.E., 2014. Analysing the financial performance of US hub airports in relation to lease agreement types. Journal of Airport Management, 8 (1), pp. 42 - 56.
This paper performs a cluster analysis to examine the financial implications of the
different types of airline lease agreements used by U.S. hub airports. Four key 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 subcategorisation
of airport performance indicators.