Abstract
The aim of this research is to investigate the operational efficiency and potential output increase scenarios of 21 small and medium sized airports (SMA) located in 10 different European countries. A key feature of the proposed Data Envelopment Analysis (DEA) models is the consideration of two novel inputs related to the number of airlines and scheduled routes operating at each airport, in addition to the more common capital non-discretionary inputs (runways, boarding gates and apron). These novel inputs are a way of considering the effects of the air transport market on airports' performance and growth prospects. In particular, a model to estimate the growth in passenger numbers, aircraft movements and cargo that can be achieved by an airport through increasing its number of airlines and routes, and assuming an efficient operation, is presented. Also, a multi-objective DEA model is proposed to explore the possible trade-offs in the output Pareto efficient frontier of a given airport. In addition, a second stage fractional regression model specific for explaining DEA efficiency scores is conducted and the results suggest that ownership structure and hub airport status are significant factors for explaining variations in the operational efficiency of European SMA.
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