We empirically investigate the impact of the implementation of such joint ventures on both the respective airlines’ network structure and their productive efficiency. Productive efficiency, as measured by load factors, is found to be 0.5–5 percent lower for joint venture routes compared to routes operated under antitrust immunity only.
Productive efficiency, as measured by load factors, is found to be 0.5–5 percent lower for joint venture services, as compared to services operated under antitrust immunity only. Although our empirical analysis is unable to isolate significant (incremental) benefits of revenue-sharing joint ventures, far-reaching conclusions such as the termination of such joint ventures – or even the end of airline cooperation under antitrust immunity – should be handled with great care. First, our empirical results show a higher efficiency (as measured by load factors) for flights under antitrust immunity compared to simple code-sharing flights, suggesting measurable benefits of higher degrees of airline cooperation.
Collected and summarized from the source below by Minh Pham https://db.vista.gov.vn:2095/science/article/pii/S0965856418303501