• 한국항공운항학회:학술대회논문집
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• 2016.05a
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• pp.249-254
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• 2016

저비용항공사들은 전세계적인 항공수요 증가 등으로 약진을 하기도 했지만, 2000년대 초반부터 세계 항공산업은 테러위험, 유가급등, 오일머니를 등에 업은 중동 항공사들의 급성장, 그리고 2008년부터 시작된 세계경제위기로 미국과 유럽, 일본 등 메이저 항공사들은 일단 최소한의 생존가능 임계규모를 갖추고자 뼈를 깎는 구조조정을 수반한 인수합병, 대외악재에 대한 대응능력 제고, 새로운 보조수익원 개발을 통해 위기를 헤쳐나갔다. 그러나 2013년 11월 단행된 중동 항공사들(Emirates, Qatar, Etihad)의 역사상 유례없는, 한화 약 170조원 규모의 항공기 구매계약에 미국과 유럽은 물론이고 아시아 메이저 항공업계까지 다시 한번 커다란 위기감에 휩싸이게 되었다. 이러한 상황하에서도 효율적 경영의 선구적 역할을 미국의 Southwest, 유럽의 LCC Ryan Air, 아시아의 LCC Air Asia 등 LCC산업은 극심한 경기침체를 겪으면서도 해당 산업의 규모는 지속적 성장을 거듭할 전망이다. 결론적으로, 이러한 상황에서, 비록 미국과 유럽 항공사들이 대규모 구조조정을 겪고 2012년 이후부터 점차 회복기미를 보이고 있긴 하지만, 중동 항공사들의 영향력에 대응하기 위해 향후에도 추가적인 구조조정은 물론 인수/합병 등 생존을 위한 메이저 항공사들 간의 빅딜이 이어질 전망이며, 일본처럼 내수시장이 넓지 않은 한국도 중국 등 성장잠재력이 높은 국가들과의 항공자유화 등을 적극적으로 추진하여 보다 넓은 시장을 확보하지 못한다면 머지않아 수익성에 큰 타격을 입을 수밖에 없다는 결론에 도달하였다.

• The Korean Journal of Air & Space Law and Policy
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• v.32 no.2
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• pp.129-153
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• 2017

Fair Competition policy in aviation field has been discussed since open skies policy began in 1970s. This issue has been also the main topic in the ICAO's Worldwide Air Transport Conference, the Air Transport Symposium, etc. ICAO defines competition as the existent or potential rivalry between two or more operators, carriers or groups, striving for advantages in the same market based on different prices, qualities and services. In a broader sense, the definition includes more various meanings; reasonable, fair, effective, and unrestricted competitions. Nowadays, competition laws and regulations to air transportation have been applied more frequently and the issues varies from antitrust immunity, mergers and alliances, abuse of dominant positions, capacity dumping and predatory pricing, sales and marketing, to airport charges and fees, state aid and loan guarantees. Now, the competition among the airlines or nations in aviation industry is changing to cooperation level. A lot of airlines try to survive by various cooperation methods. Therefore the policy of Korean aviation industry should be developed, taking so-called "the viewpoint of national aviation industry ecosystem" into consideration and Korean government should prepare a policy of fair competition to cope with it. First, in the process of open skies policy with neighboring countries such as China, Japan and the Middle East, it is necessary to apply the fair competition act and prepare laws and regulations to implement it. Second, the standards of effective ownership and control of air transportation business should be reviewed. Third, in preparation for aviation agreements and liberalization, the Korean aviation industry needs to study and review competition and cooperation issues through the analysis of strict aviation market structure for airlines and airport operations. Fourth, it is necessary to create a fair air transportation environment for the development of air transportation and competitiveness through preemptive policies such as the approval of mergers, acquisitions, JV and the ripple effects analysis.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.31 no.3
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• pp.142-160
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• 2023

This research explores how different corporate cultures can influence the post-M&A performance of the airlines undergoing strategic M&A in Korea. The sample size of this research is 214 respondents that is strictly limited to the employees of airlines under M&A process, and CFA and SEM were employed for the statistical analysis. This research investigated that corporate cultures including group-oriented, development-oriented, and rationale-oriented will positively influence the post M&A performance of both efficiency and effectiveness through a mediation of collaboration during M&A process. In contrast, relations between grouporiented culture and interaction, interaction and effectiveness were not revealed positive influences. The findings of this research will provide valuable insights into the potential risks that can impede successful M&A within the M&A process, specially focusing on the conflicts between organizations stemming from different organizational cultures, which can have an adverse impact on M&A performance.

• The Korean Journal of Air & Space Law and Policy
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• v.26 no.1
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• pp.93-125
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• 2011

The International Civil Aviation Convention (Chicago Convention) has been a backbone of international air transport system whereby air transport between States should be based on bilateral agreements, and in particular, international airfares, which are set up through IATA(International Air Transport Association) rate-fixing machinery could be approved by the governments concerned. International airfares are fares for transporting passenger and freight and their conditions between two or more countries. However, since U.S. pursued th deregulation policy in 1978 whereby routes, capacity and fares could be freely determined by airlines, many States have been following so called open-skies agreements. In many cases, aeronautical and competent authorities have been reviewing whether airlines' commercial activities including air fares could possibly conflict with free competition rules envisaged in relevant laws and regulations. As competition among airlines gets intense, airlines often resort to cooperation with other airlines in the forms such as equity exchange, M&A, code-sharing, fares consultation and resource pooling, mainly with a view to effectively use resources available and to avoid monopoly situation resulting from excessive and destructive competition among players. Whereas bearing in mind that application of competition laws is important to secure consumers' interests by preventing airlines's malpractices such as bargaining exorbitant fares, it is also important to comprehensively consider as many factors as possible, from that unilateral measure by governments may bring about retaliatory measures by the governments affected, to that airlines' cooperative practices may rather increase consumers' benefits by lowering air fares.