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Working conditions in European low-cost carriers - impact on firm value and wage inequality
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Resumo(s)
The group part of the airline industry report investigates which airlines are positioned to
operate in a sustainable post-Covid market environment. The results show that low-cost
carriers are likely to emerge as the leading business model in the future.
The individual part deals with working conditions in European low-cost carriers (LCC).
Overall, a negative relationship between working conditions and firm value was found, while
effects for business models separately were unclear. LCC can better react to wage shocks in
terms of operational profitability, even though wages are lower compared to full-service
carriers. With higher wages, LCC lose their competitive advantage.
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Palavras-chave
Corporate finance Airline industry Wages Low-cost carrier Firm value Working conditions