This paper examines mergers that lead to an almost immediate replacement of the target firm’s business model in favor of that of the acquiring firm. We examine the post-merger behavior of the two leading European dedicated low-cost airlines, EasyJet and Ryanair, each acquiring another low-cost...

Purpose – The article looks at a Canadian airline, WestJet, that began as a low-cost carrier and is now adopting a more hybrid strategy. It analyses the difficulty of such a strategy and makes the comparison with Singapore Airlines (SIA) which has attempted to do the same....

In this study, we regard the oligopolistic-oligopsonistic markets within the framework of a “double auction†in which both buyers and sellers make bids. To this end, we introduce games where declarations of supply and demand functions (which need not be true) are treated as strategic...