Financial performance and privatisation in the airport industry: the case of Italy

In the past decades, many countries have increased the presence of various forms of private sector involvement in airport ownership and management. This paper discusses 'if' and 'under which conditions', various ownership forms - as public/private shareholders - can affect the financial performance of Italian airports. By taking into account a weighting factor, the main purpose is to provide empirical evidence on the existing relation between the level of privatisation and relative financial performance.