economic regulation of air transport

Economic regulation of air transport involves government rules that shape how airlines operate and compete. This includes setting safety standards, regulating airline fares and routes, and ensuring fair competition. The goal is to promote safety, affordability, and service quality, while preventing market abuses like price-fixing or monopolies. Regulations also manage passenger rights, such as compensation for delays or cancellations. Essentially, economic regulation balances the interests of airlines, passengers, and the broader economy, creating a framework that encourages efficient, safe, and equitable air transportation.