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THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION
WITH THE LOW-COST AIR OPERATORS
Carles Casas Esplugas
Paulo Fonseca Teixeira
Andrés López-Pita
Adrina Bachiller Saña
9th International Conference on Competition and Ownership in Land Passenger Transport.
Lisboa 5 – 9 September 2005
CENIT
Center for Innovation in Transport
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
2CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Contents of the presentation• APPARITION OF LOW COST AIR CARRIERS IN
EUROPE– The liberalisation of European Skies– Expansion and effects of low cost air carriers
• AIR AND RAIL COMPETITION IN EUROPE– The apparition of High Speed Rail in Europe– Rail competitive advantages and disadvantages– Rail success– From Competition to Complementarity
• EFFECTS OF LCC IN RAIL MARKETSHARE– Modeling Technique– Implementation and validation of the model– Application of the model
• CONCLUSIONS– Considerations on the model– Final considerations
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
3CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Liberalisation of European Skies
• Airlines industry in Europe traditionally characterized by national or “flag” companies
– Unique operator in corresponding internal markets – Political agreements for the international flights
• The lack of competition had an end with the liberalisation process of the European skies during the nineties.
• Different companies have evolved fast to concentration and alliances while reorganizing their services in hubs.
• Passengers have taken benefit of the liberalisation process.
– A boost in frequencies – Multiplication of available destinations
APPARITION OF LCC IN EUROPE
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
4CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Liberalisation of European Skies
The airline sector has been deeply affected by the liberalisation process. Three aspects can be highlighted:APPARITION OF
LCC IN EUROPE
• Progressive privatizations of national air
companies and the search of partners and
alliances.
• Growth of regional companies, in several
cases with bases in secondary hubs and allies
of the big airlines
• The apparition of low cost air companies
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
5CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Expansion and effects of low cost air carriers• Low Cost companies have boosted in Europe • Increase of destinations served and of the availability of low fares• Low Cost companies have margin to grow and that, they will last
in the European market.
APPARITION OF LCC IN EUROPE
Potential Marketshare
of 25%
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
6CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
The apparition of High Speed Rail in Europe
• The apparition of High Speed Rail (HSR) services in Europe with the inauguration of the Paris-Sud-Est line in 1981 was a break point for Air-Rail marketshare.
• Before the arrival of high speed services, railways were constantly losing marketsare in benefit of roads (mostly for freight traffic) and air.
• Rail was the only mode that had not done a technological jump on the second half of the XX cent.
• Railways have emerged as a suitable and sustainable alternative in order to satisfy transport demand.
• The support of rail mode has therefore become one of the main axes of European transport policy
AIR AND RAIL COMPETITION
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
7CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Rail competitive advantages and disadvantagesFare level was one of the key factors for HSR success, but not the only one, frequency and quality among others also had a significant role besides of the indispensable competitive travel time.
Traveler demands according to travel reason
0 2 4 6 8 10 12
Speed
Frequency
Spatial comfort
Accessibility
Vibratory Comfort
Reliability
Punctuality
Information and Organization
Baggage Handling
On Board Service
Fare Level
Safety
Holidays Business Private trip
Traveler demands according to travel reason
0 2 4 6 8 10 12
Speed
Frequency
Spatial comfort
Accessibility
Vibratory Comfort
Reliability
Punctuality
Information and Organization
Baggage Handling
On Board Service
Fare Level
Safety
Holidays Business Private trip
Traveler demands according to travel reason
0 2 4 6 8 10 12
Speed
Frequency
Spatial comfort
Accessibility
Vibratory Comfort
Reliability
Punctuality
Information and Organization
Baggage Handling
On Board Service
Fare Level
Safety
Holidays Business Private trip
Traveler demands according to travel reason
0 2 4 6 8 10 12
Speed
Frequency
Spatial comfort
Accessibility
Vibratory Comfort
Reliability
Punctuality
Information and Organization
Baggage Handling
On Board Service
Fare Level
Safety
Holidays Business Private trip
AIR AND RAIL COMPETITION
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
8CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Rail competitive advantages and disadvantagesAmong the advantages of railways services, can be highlighted the following aspects that influence the modal election:
– Safety
– Punctuality
– Comfort
– Environmental aspects
– City centre to city centre
Among the disadvantages can be highlighted:
– Investment Costs
– Weak flexibility
AIR AND RAIL COMPETITION
ParameterTransport mode
Rail Plane Road
Energy (epl/pas/km)CO2 (kg/pas/km)NO (g/pas/km)SO2(g/pas/km)
0,0260,0450,0380,036
0,0780,1860,6460,097
0,0590,1400,1730,082
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
9CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Rail success
AIR AND RAIL COMPETITION
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
10CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
From competition to complementarity• Despite the apparition of HSR, passengers air traffic in Europe didn’t stop growing
• Congestion and saturation problems in the European airspace were increasing.
• Idea of complementarity between high-speed railway and airplane started to take shape in the late 80’s and early 90’s.
• To synthesize, three main fields of cooperation between railway and airplane can be identified:
– Railway links to the airports– Intra-European middle and long distance journeys– Transport chain
“Each mode used where it is more efficient”
• Another concept starting to develop is the “System of airports” that seeks coordinating airports linked by HSR
AIR AND RAIL COMPETITION
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
11CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
LCC EFFECTS IN RAIL MARKETSHARE
• Sands (1993) defined High Speed Train as “twice as fast as the auto, half as expensive as air”.
• This definition is clearly no longer applicable with Low Cost Companies as players in the same market.
• Within this context of success and big investments in the rail network, Low Cost airlines are a completely new player that, due to their low fares, can affect not only the other airlines but also the success of High Speed rail.
• The influence of low cost airlines is already a fact
EFFECTS OF LCC IN RAIL
MARKETSHARE
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
12CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Modelling techniqueGeneralized
CostCgPlane
CgRail
Value of time
Plane
Rail
hiO
(Indiference Time)
h
CgRail= PRail + h · TRail
CgPlane= PPlane + h · TPlane
GeneralizedCost
CgPlane
CgRail
Value of time
Plane
Rail
hiO
(Indiference Time)
h
CgRail= PRail + h · TRail
CgPlane= PPlane + h · TPlane
GeneralizedCost
CgPlane
CgRail
CgHigh Speed
Value of Time
Plane
High Speed Rail
hiO
hhi
AV
GeneralizedCost
CgPlane
CgRail
CgHigh Speed
Value of Time
Plane
High Speed Rail
hiO
hhi
AV
GeneralizedCost
Value of timehO
NRNP
NP
NRNP
NR
NP: Traffic Plane
NR: Traffic Rail
Traffic Share
Value of TimehO
F(h) NRNP
NP
NRNP
NR
GeneralizedCost
Value of timehO
NRNP
NP
NRNP
NR
NP: Traffic Plane
NR: Traffic Rail
GeneralizedCost
Value of timehO
NRNP
NP
NRNP
NR
NP: Traffic Plane
NR: Traffic Rail
Traffic Share
Value of TimehO
F(h) NRNP
NP
NRNP
NR
Traffic Share
Value of TimehO
F(h) NRNP
NP
NRNP
NR
GeneralizedCost
CgPlane
CgRail
CgHigh Speed
Value of TimehiO
hhi
AV
Low CostCompany
GeneralizedCost
CgPlane
CgRail
CgHigh Speed
Value of TimehiO
hhi
AV
Low CostCompany
EFFECTS OF LCC IN RAIL
MARKETSHARE
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
13CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Modelling techniqueThe modelling technique chosen to evaluate the modal split has been a bimodal logit model.
Ui(i,A) = Vi(i,A)+i(i,A) i = 1,.....,m (1)
1
1
HSij
Airij
Airij
HSij
HSij
VV
VV
VHSij e
ee
ep
)()( kij
kij GCV
h
hhtwvotFGC
Where: F: is the average fare, vot: is the value of time, Wh and th weights and times of each step of the trip
EFFECTS OF LCC IN RAIL
MARKETSHARE
• Utility of the alternative i for the passenger A:
• HS marketshare:
• Measurable utility:
• Generalized Cost:
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
14CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Implementation of the model• Selected city pairs with already high speed rail services and direct air services.
• To obtain the weighted time, the trip was divided in five stages; access to the terminal, check-in, Main trip, Check out and Ride to destination.
• The value of time applied was of 37 €/hour as proposed by Hammadou & Jayet (2002) as the average value of time for air transport in France in 2002.
• The determination of the average fares for each relation is a difficult issue as there is a big variability of fare levels, even more with the day-by-day variation of the low cost air carriers.
• To establish a representative average fare, four fare levels were kept, full price for business and tourist class and economy price for tourist and economy class.
EFFECTS OF LCC IN RAIL
MARKETSHARE
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
15CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Implementation of the model
High Speed Train Plane
CorridorWeighted time
(wt)
Kept Fare
GCHS
Weighted time
(wt)
Kept Fare
GCAir
Paris-Brussels 163,75 61,675 162,65 266,25 182,15 346,34
Paris-lyon 198,75 56,318 178,88 266,25 95,2 259,39
Madrid-Sevilla 228,75 68,215 209,28 251,25 104,42 259,36
Paris-Londres 258,75 105,37 264,94 271,25 111,18 278,46
Paris-Amsterdam 328,75 91,875 294,60 271,25 104,71 271,99
Roma-Milano 363,75 49,075 273,39 261,25 74,747 235,85
Paris-Nice (2002) 413,75 96,52 351,67 281,25 135,7 309,14
Paris-Marseille 258,75 83,045 242,61 271,25 81,05 248,32
Paris-Toulouse 393,75 74,222 317,04 271,25 108,75 276,02
EFFECTS OF LCC IN RAIL
MARKETSHARE
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
16CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Implementation of the model• The expression of the measurable utility once calibrated:
)()( )·019,0( kij
kij CGV
1·019,01
HSij
Airij GCGCHS
ij ep
0
0,1
0,2
0,3
0,4
0,5
0,6
0,7
0,8
0,9
1
-250 -150 -50 50 150 250Air GC - Rail GC
Ra
il M
ark
ets
ha
re
Model Function
Real Values
EFFECTS OF LCC IN RAIL
MARKETSHARE
-0,019
R2 0,8998
• Rail marketshare:
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
17CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Validation of the model
• Roma – Bologna and Köln – Paris corridors which have not been used for the calibration and to the Paris-Amsterdam corridor with an hypothetic reduction of trip time due to a high speed rail service (new trip time: 183 minutes).
CORRIDOR Model Real
Paris-Köln 33% HS 77% HS
Roma-Bolonia 74,3% HS 74% HS
The reduction of time in the Paris Amsterdam relation gives an hypothetic marketshare for HS rail of 58,8% which is consistent with the data available of relations with the same travel time and distance
(Paris – London 62%).
EFFECTS OF LCC IN RAIL
MARKETSHARE
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
18CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Application of the model• Successive reductions of air fares (by 10%) have
been applied to each corridor keeping all the other parameters unchanged.
EFFECTS OF LCC IN RAIL
MARKETSHARE
Effect of the reduction of air fares
0%
20%
40%
60%
80%
100%
120%
0% 20% 40% 60% 80% 100%Fares Reduction
HS
Ra
il M
ark
ets
ha
reParis-Brussels
Paris-lyon
Madrid-Sevilla
Paris-Londres
Paris-Amsterdam
Roma-Milano
Paris-Nice (2002)
Paris-Toulouse
Paris-Marseille
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
19CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Application of the model• Predicted Rail marketshare – Rail travel time for
air fares reduction of 20%, 30%, 40% and 50%.
EFFECTS OF LCC IN RAIL
MARKETSHARE
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
80 130 180 230 280 330 380
Rail Travel Time (minutes)
Ra
il M
ark
ets
ha
re
Real Marketshare
Model Rail Marketshare
20%
30%
50%
10%
40%
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
20CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Considerations on the model
The logit model shows a good behavior in terms of:– Rail markeshare corresponding to a drop in travel times– Stability of rail marketshare in clearly favourable relations against
decreases in air fares– Drop of rail marketshares in relations where rail position is weak.
Nevertheless, several aspects have been excluded at this stage and should be gradually incorporated altogether with additional data:
– “Captive” travelers, case– Comfort– Frequency – Useful time at destination– ….and more….
CONCLUSIONS
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
21CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Considerations on the model• Further research should be carried out in order to define a better-suited
generalized cost.• The model provides “potential” marketshares of each mode instead as the
capacity to provide transport is not considered.• It has also been noted a high sensitivity of marketshare on rail and air fares. • As a final consideration of the logit model, it is a technique with potential to
reproduce real market behaviour but the model needs further development in order to allow a detailed analysis of the different factors influencing modal split.
• At this stage of development, the model can be useful to determine general tendencies in modal split behaviour face to alterations in the transport offer of rail and air modes.
CONCLUSIONS
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
22CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Final considerations• High Speed Rail has proved to be a big competitor of air for
short and medium distances (corresponding to short haul flights). This success has been based in an better transport offer in terms of time, frequency, comfort and quality but also in terms of fares.
• The irruption of low cost air carriers into the market forces has forced an overall reduction in air costs for the last years due to the competition between air carriers. As an airline competitor in some intra-european relations high speed rail is also affected by the entrance of these new players.
CONCLUSIONS
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
23CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Final considerations• The modelling has shown that rail is able to keep a dominant,
position in terms of modal split against air, even with considerable reduction of air fares for relations up to 2h30’ of travel time. It has also shown that, on the other hand, relations beyond this value are sensitive to a decrease in air fares.
• Rail quality offer is far from being based only in fares and travel time. Rail has a margin to compete with air that has not been exploited. As the reaction of Thalys services demonstrate, rail can compete at lower fares keeping most of its quality factors as city centre to city centre services, spatial comfort, frequency and punctuality.
CONCLUSIONS
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION WITH THE LOW-COST AIR OPERATORS
Casas Esplugas, Fonseca Teixeira, López Pita, Bachiller Saña, Lisboa 7 Sept 2005
24CENIT
APPARITION OF LCC IN EUROPE
AIR AND RAIL COMPETITION
CONCLUSIONS
EFFECTS OF LCC IN RAIL
MARKETSHARE
Final considerations• HSR can, then, compete with success with low cost
airlines as it has been doing the last years with traditional air carriers. Besides of this, the extension of new fare levels (for example with cheap non reimbursable tickets) to all the High Speed Rail services can induce an overall growth of High Speed Rail marketshare in Europe.
• It is rather difficult to consider a “Low Cost” network one of the Structural or Key aspects of the European transport policy.
• On the other hand, HSR lines have already demostrated its capacity to affect in a structural way not only transport but also economic systems
CONCLUSIONS
THREATS AND OPPORTUNITIES FOR HIGH SPEED RAIL TRANSPORT IN COMPETITION
WITH THE LOW-COST AIR OPERATORS
Carles Casas Esplugas ([email protected])
Paulo Fonseca Teixeira
Andrés López-Pita
Adrina Bachiller Saña
9th International Conference on Competition and Ownership in Land Passenger Transport.
Lisboa 5 – 9 September 2005
CENIT
Center for Innovation in Transport