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The aviation industry has always been regulated nationally and internationally for safety, defense, security, market competition, and consumer protection. The privatization process was implemented to improve productivity and optimize cost, with maximizing profits as the primary objective. Privatizing aviation has always been discouraged by sectors in air transport that make marginal transport (Puentes & Lewis, 2022). There are massive continuous changes in technology that can easily influence privatization. Air transport policies regulate whatever has to be done before privatization is implemented. The public will be free of the financial risk and burden because it is the private sector to handle all the operations once, thus reducing the public debt arising from the operating cost.
It improves customer service and quality, since the public no longer controls the monopoly; price competition can be regulated or reduced since good customer care and quality service that customers will vouch for. The private sectors have the potential to bring expertise with advanced technology that will entail better customer care and commercial discipline. It will minimize operational costs and increase commercial revenue. There will be an increase in profit margin because when consumers are satisfied with the quality of service or product, they will be frequent users (Lara, 2022). Their objectives can have insufficient consideration and investment, thus making them unable to maintain social justice and control environmental impacts.
Various purposes must be clearly defined before the agreement is sealed because the aviation infrastructure is critical to the economy. The economy’s scale and scope are vital in generating efficiency to have premium service and better customer care. Privatizing the aviation industries reduces operational costs, customer satisfaction is the top priority, controlled monopoly, and increased commercial revenue. Any applicable model tabled by an investor who would like to privatize a particular airline must be supported with a consistent and transparent framework that is regulated before they become operational.
References
Lara, V. (2022). The benefits of Defense industry privatization: Markets, technology and U.S. military supremacy since World War II. Comparative Strategy, 41(2), 162–188. Web.
Puentes, R., & Lewis, P. (2022). Airport privatization in the United States. Handbook on Public Private Partnerships in Transportation, 1, 69–84. Web.
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