Download or read book Impacts of Airline Mergers and Acquisitions on Returns to Shareholders written by Joseph A. Gallo (III.) and published by . This book was released on 1989 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effects of Mergers and Acquisitions on Shareholder Wealth written by Lina Cortes and published by . This book was released on 2015 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study analyzes the effect of changes in corporate control on the way shareholders benefit from the announcements of selling and buying airlines, thus contributing to the literature on mergers and acquisitions (M&As) in emerging markets. Using a methodology of event study, including GARCH and OLS models, we find evidence that some selling companies obtain abnormal returns that are statistically significant after the announcement of the M&A. However, when the merger is not strategic, the companies present statistically significant negative abnormal returns. The results are not conclusive when analyzing the effect on the value of the buying companies.
Download or read book Airline Industry written by JayEtta Z. Hecker and published by DIANE Publishing. This book was released on 2008 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: The airline industry generates operating revenues of $172 billion in 2007, amounting to over 1% of the U.S. gross domestic product. It carried more than 700 million passengers in 2007. Airline deregulation in 1978 led, at least in part, to increasingly volatile airline profitability, resulting in periods of significant losses and bankruptcies. In response, some airlines have proposed or are considering merging with or acquiring another airline. This report describes: (1) the financial condition of the U.S. passenger airline industry; (2) whether the industry is becoming more or less competitive; (3) why airlines seek to merge with or acquire other airlines; and (4) the role of fed. authorities in reviewing proposed airline mergers and acquisitions. Charts and tables.
Download or read book Airline Mergers Issues Raised by the Proposed Merger of United and Continental Airlines written by Susan Fleming and published by DIANE Publishing. This book was released on 2010-10 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: In early May 2010, United Air Lines and Continental Airlines announced plans to merge the two airlines and signed a merger agreement. The passenger airline industry has struggled financially over the last decade, and these two airlines believe a merger will strengthen them. However, as with any proposed merger of this magnitude, this one will be carefully examined by the U.S. Dept. of Justice to determine if its potential benefits for consumers outweigh the potential negative effects. This statement describes: (1) an overview of the factors that are driving mergers in the industry; (2) the role of federal authorities in reviewing merger proposals; and (3) key issues associated with the proposed merger of United and Continental. Illustrations.
Download or read book The Consequences of Airline Mergers Since Deregulation written by United States. Civil Aeronautics Board. Office of the General Counsel and published by . This book was released on 1982 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Airline Mergers and Their Effect on American Consumers written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Trade, and Consumer Protection and published by . This book was released on 2001 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Event Study of the US Airways American Airlines Merger written by Serdar Dalkir and published by . This book was released on 2019 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent merger between US Airways and American Airlines was approved by federal and state antitrust authorities, after the merging parties agreed to divest slots and gates at certain “constrained” airports to low cost carriers. By analyzing the stock-market returns of rival airlines, we find some evidence that stock market investors anticipated anticompetitive effects from this merger. The economics literature offers many reasons why such stock-market event studies should not be used to infer competitive effects from mergers. For example, abnormal returns for rivals might arise for reasons unrelated to competitive harms, such as when a merger changes expectations that one or more rivals will be “in play” (i.e., a potential future acquisition target). However, we argue that, for certain cases and conditions, event studies can inform a competition analysis, and that the US Airways - American merger might well be one such case.
Download or read book Impact of Consolidation on the Aviation Industry with a Focus on the Proposed Merger Between Delta Air Lines and Northwest Airlines written by United States. Congress. House. Committee on Transportation and Infrastructure. Subcommittee on Aviation and published by . This book was released on 2008 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Airline Mergers and Acquisitions written by United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee on Aviation and published by . This book was released on 1986 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effects of Airline Mergers on Market Power and Returns to Scale written by David Einhorn and published by . This book was released on 1989 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Returns to Shareholders of Acquiring and Acquired Companies written by Alfred E. Osborne and published by . This book was released on 1980 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effect of International Mergers and Acquisitions on Shareholder Returns of Participating U S Firms written by Asrat Tessema and published by . This book was released on 1985 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Airline Mergers written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-08-05 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: " In February 2013, American and US Airways announced plans to merge the two airlines and entered into a merger agreement. Valued at $11 billion, the merged airline would retain the American name and be headquartered in Dallas-Fort Worth. This follows the mergers of United Airlines and Continental Airlines in 2010 and the acquisition of Northwest Airlines by Delta Air Lines (Delta) in 2008. This latest merger, if not challenged by DOJ, would surpass these prior mergers in scope to create the largest passenger airline in the United States. The passenger airline industry has struggled financially over the last decade and these two airlines believe a merger will strengthen them. However, as with any merger of this magnitude, this proposal will be examined by DOJ to determine if its potential benefits for consumers outweigh the potential negative effects. This testimony focuses on (1) the role of federal authorities in reviewing merger proposals, (2) key factors motivating airline mergers in recent years, and (3) the implications of merging American and US Airways. To address these objectives, GAO drew from its previous reports on the potential effects of prior airline mergers and the financial condition of the airline industry issued from July 2008 through May 2010. GAO also analyzed DOT's airline operating and financial data, airline financial documents, and airline schedule information since 2002."
Download or read book Mergers and acquisitions written by Catherine Louise Heide and published by . This book was released on 1981 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effect of Mergers and Acquisitions on Shareholder Returns written by Agus Sugiarto and published by . This book was released on 2000 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Impacts of Airline Mergers on Passenger Welfare written by Tian Luo and published by . This book was released on 2016 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 2005, U.S. domestic airline industry has undergone a series of consolidations. The overall effects of these consolidations on air travelers are of considerable interest to researchers and policy makers alike. In this thesis, unlike any of the previous studies in literature, we provide a comprehensive assessment of the overall effects of each of the five major recent mergers on the passengers' welfare as evaluated through consumer surplus changes, starting with the US Airways - America West Airlines merger in 2005 and ending with the American Airlines - US Airways merger in 2013. We develop discrete choice models with fare, nonstop and one-stop service frequency, travel time, and other carrier and route attributes as parameters. The consumer surplus, as a function of these parameters, is calculated for each market as the measure of passengers' welfare. By using the markets not affected by the mergers as a control group, we are able to separate out the welfare effects of mergers from those of other extrinsic factors such as oil price changes, changes in economic conditions, etc. Several new insights are obtained. We find that mergers of legacy network carriers with significant proportion of overlapping markets are generally accompanied by flight reallocation and network reorganization, which in turn, contribute to an increase in passenger welfare. However, overall passenger welfare for very small communities declined after the mergers. Also, overall passenger welfare in markets with many competitors declined, consistent with the classic economic theory of consolidation-induced welfare losses. We also find that the welfare gain from mergers of legacy network carriers with significant proportion of overlapping markers progressively decreased as the number of existing major domestic carriers decreased, and that after the most recent mergers, any further potential mergers of legacy network carriers are likely to result in welfare losses.
Download or read book The Impact of Insurance Mergers and Acquisitions on Shareholder Returns written by Jeannie Effendy Kusnadi and published by . This book was released on 1998 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
