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1 – 4 of 4President Javier Milei aims to increase competition in the domestic airline industry, where state-owned Aerolineas Argentinas (AR) retains the largest market share, although…
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DOI: 10.1108/OXAN-DB288723
ISSN: 2633-304X
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Bahareh Golkar, Siew Hoon Lim and Fecri Karanki
A major source of external funding for US airports comes from issuing municipal bonds. Credit rating agencies evaluate the bonds using multiple factors, but the judgments behind…
Abstract
Purpose
A major source of external funding for US airports comes from issuing municipal bonds. Credit rating agencies evaluate the bonds using multiple factors, but the judgments behind the ratings are not well understood. This paper examines if airport rate-setting methods affect the bond ratings of US airports.
Design/methodology/approach
Using a set of unbalanced panel data for 58 hub airports from 2010 to 2019, we examine the effect of the rate-setting methods and other airport characteristics on Fitch’s airport bond rating.
Findings
We find that compensatory airports consistently receive a very high bond rating from Fitch. The probability of getting a very high Fitch rating increases by ∼28 percentage points for a compensatory airport. Additionally, the probability of getting a very high rating is about 33 percentage points higher for a legacy hub.
Research limitations/implications
The study uses Fitch bond ratings. Future studies could examine if S&P’s and Moody’s ratings are also influenced by airport rate-setting methods and legacy hub status.
Practical implications
The results uncover the linkage between bond ratings and their determinants for US airports. This information is important for investors when assessing airport creditworthiness and for airport operators as they manage capital project financing.
Originality/value
This is the first study to evaluate the effects of rate-setting methods on airport bond rating and also the first to document a statistically significant relationship between airports’ legacy hub status and bond ratings.
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Halimin Herjanto, Regina Falcon Garza and Muslim Amin
This study aimed to investigate the lesbian, gay, bisexual, transgender and queer (LGBTQ) hotel selection criteria.
Abstract
Purpose
This study aimed to investigate the lesbian, gay, bisexual, transgender and queer (LGBTQ) hotel selection criteria.
Design/methodology/approach
A thematic analysis was performed to explore 104 LGBTQ traveler comments based on TripAdvisor's top five LGBTQ hotels in Thailand.
Findings
The results indicated that tangible and intangible hotel attributes influence the LGBTQ community's hotel selection.
Practical implications
The results emphasize the need for hoteliers to understand the diversity of the LGBTQ community's hotel selection criteria and adjust or adopt different marketing strategies to engage and attract LGBTQ travelers.
Originality/value
This study contributes to the tourism literature by showing the importance of recognizing the LGBTQ community's hotel selection criteria and providing recommendations to improve product quality and services of hotels.
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Rafael Teixeira, Jorge Junio Moreira Antunes, Peter Wanke, Henrique Luiz Correa and Yong Tan
This paper aims to measure and unveil the relationship between customer satisfaction and efficiency levels in the most relevant Brazilian airports.
Abstract
Purpose
This paper aims to measure and unveil the relationship between customer satisfaction and efficiency levels in the most relevant Brazilian airports.
Design/methodology/approach
The authors utilize a two-stage network DEA (data envelopment analysis) and AHP (analytic hierarchy process) model as the cornerstones of the study. The first stage of the network productive structure focuses on examining the infrastructure efficiency of the selected airports, while the second stage assesses their business efficiency.
Findings
Although the results indicate that infrastructure and business efficiency levels are heterogeneous and widely dispersed across airports, controlling the regression results with different contextual variables suggests that the impact of efficiency levels on customer satisfaction is mediated by a set of socio-economic and demographic (endogenous) and regulatory (exogenous) variables. Furthermore, encouraging investment in airports is necessary to achieve higher infrastructural efficiency and scale efficiency, thereby improving customer satisfaction.
Originality/value
There is a scarcity of studies examining the relationships among customer satisfaction, privatization and airport efficiency, particularly in developing countries like Brazil.
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