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Airport Economics

Airport intelligence.
Global advantage.

We bring clarity to the complex airport business through data-driven insights and strategic guidance,
empowering smarter decisions
and sustainable growth.

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Airport economics. From Data and Insight to Policy and Impact.

About

Strategic airport insight built on data, experience, and global best practices.

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About

Airport Economics Consulting Inc. delivers high-impact analytical and strategic expertise tailored to the airport industry. We assist airport operators, regulators, and aviation stakeholders in addressing complex economic, financial, regulatory, and operational challenges. Our services cover aeronautical and non-aeronautical development, economic regulation, and policy advisory. With a strong foundation in data-driven insight and international best practices, we help clients navigate evolving frameworks, optimize performance, and make informed, forward-looking decisions that drive long-term growth and resilience.

What We Do

From regulatory impact assessments to benchmarking, we deliver actionable insights—due diligence, traffic analysis, financial modeling, and performance analytics—to inform investment, strategy, and policy. We also build internal capability through targeted workshops and instructional programs that embed tools and know-how for lasting results. Workshops are led in part by our founder, Patrick Lucas, a lead instructor affiliated with programs such as the Airport Management Professional Accreditation Programme (AMPAP)—the joint Airports Council International (ACI)–International Civil Aviation Organization (ICAO) certification—independent of our firm.

Chief Economist & Founder

Patrick Lucas

Patrick Lucas is an accomplished economist with 25 years of experience in analytical, strategic, and leadership roles across industry and international organizations. As founder of Airport Economics Consulting Inc., he advises airport operators, regulators, and aviation stakeholders globally on business strategy, financial analysis, and regulation. Patrick has authored numerous industry publications and delivers specialized training for global programs. A frequent speaker and recognized thought leader, he contributes to key industry events and serves on leadership committees and advisory boards, helping shape the future of the airport business.

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    Shaping Airport Strategy Worldwide.

    Lean by design, impactful by outcomes. Patrick Lucas leads a business advisory model that scales efficiently—partnering with specialists, harnessing analytical AI tools, and embedding effortlessly within larger teams across borders and regulatory frameworks.

    Our Services
    25+
    Patrick Lucas brings over 25 years of global experience in analytical roles—guiding data-driven decisions on strategy, policy, and performance.
    1000+
    Patrick has trained over 1,000 professionals across 6 continents on statistics, economics and policy matters.
    40+
    Founder Patrick Lucas has led advisory missions, high-level events, and technical engagements across 40+ countries—supporting stakeholders through strategic counsel.
    50+
    Patrick has authored or contributed to over 50 articles, studies, and high-level presentations on airport finance, policy, and regulation.

    Services

    Precision Services for Complex Airport Challenges.

    We provide data-driven advisory services in airport economics, policy, regulation, and strategy—helping clients make informed decisions and achieve measurable results.



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    Policy Development
    & Advisory

    We support airports and industry bodies with policy papers, regulatory submissions, and stakeholder consultations—shaping strategy, charges, and economic positioning.

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    International benchmarking
    and diagnostic services

    We benchmark airport performance across global peers, KPIs, and regulatory models—delivering diagnostics that uncover strengths, gaps, and strategic opportunities.

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    Economic regulation assessments
    and airport charges modeling

    Provides financial impact analysis, regulatory model assessments, and market studies to support strategic planning, pricing decisions, and policy compliance.

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    Data collection
    and analysis

    Designs and implements reliable, policy-driven surveys with robust quality controls, ensuring accurate, comparable data through tailored tools and sampling methods.

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    Traffic and
    demographic analysis

    Forecast passenger, cargo, and aircraft movements; analyze travel flows and demographics; and support air service development through market and route opportunity analysis.

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    Due diligence and simulation
    of key financial metrics

    Delivers financial simulations, elasticity analysis, and due diligence to support planning, investment decisions, and stress-testing under various scenarios.

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    Training
    and capacity building

    Tailored training programs in airport economics aligned with global standards. Supports long-term capacity building through courses offered with ACI and ICAO.

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    Speaking Opportunities

    Regularly featured at global aviation events, conferences, and webinars to share insights on the airport business and industry outlook. Available for speaking engagements, panels, and expert commentary.

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    Testimonials

    Airport Economics Consulting is a trusted partner for analytical, regulatory, financial, and strategic advisory across the airport sector.

    “Patrick’s expertise was instrumental during a series of high-stakes engagements with airlines and regulatory stakeholders on aeronautical charges, where he drew extensively on global best practices in airport economic oversight. He provided ACSA’s Board and Executive Team with clear and strategic insights that deepened our understanding of complex regulatory frameworks. His counsel and training interventions directly shaped our roadmap for navigating economic regulation. Patrick is regarded as a leading expert in the field, and we continue to rely on his guidance."

    Thabile Mathe, Chief Strategy Officer,
    Airports Company South Africa (ACSA)

    “Airport Economics Consulting Inc. delivered a confidential airport benchmark study with remarkable precision and depth. Their rigorous quantitative analysis generated highly actionable insights we continue to reference. Equally impressive was their thoroughness and client-centred flexibility: despite the heavy computational burden, they re-ran and refined the dataset multiple times to accommodate our evolving questions.”

    Arturo Vera, Head of Corporate Strategy
    Lima Airport Partners, Peru

    “Patrick played a pivotal role in establishing the regulatory affairs function at MATARAT Holding, embedding international best practices and bringing clarity to a complex regulatory landscape. He advised project teams across the Kingdom’s airports and developed data-driven scenarios that guided senior-level decision-making. His ability to navigate regulatory challenges while building internal capacity made him an invaluable asset.”

    Diogenis Papiomytis, GM of Strategy & Business Plan
    Matarat Holding, Saudi Arabia
    Sub-contracted engagement for ACI Asia-Pacific & Middle East

    “When it comes to Airport Economics, you need to look no further than Patrick Lucas. I have worked with Patrick for a few years now, and he is a thorough professional as well as an excellent educator. His depth of knowledge and ability to connect with clients for consulting and participants during training is exceptional. Delighted to have him as our lead for the Airport Economics courses at AMPAP’.

    Gurjit Gill, Director - Global ACI-ICAO Airport Management
    Professional Accreditation Program
    Airports Council International (ACI) World, Canada

    "I have had the privilege of working with Mr. Patrick Lucas in the past and I know first-hand the depth of expertise and dedication he brings to the industry. We are thrilled to welcome Airport Economics Consulting Inc. to the ACI-LAC network and look forward to the invaluable contributions they will bring to our members and the wider airport community."

    Dr. Rafael Echevarne, Director General of ACI-LAC

    Partners

    Clarity. Strategy. Impact.

    Organization & Affiliation

    Airport Economics Consulting Inc. is a member of Airports Council International (ACI) Latin America-Caribbean (ACI-LAC) and ACI Asia-Pacific & Middle East (ACI APAC & MID). Participation is through the World Business Partners (WBPs) Program.

    Program Purpose

    Serves as a strategic bridge between private-sector expertise and the airport community. Connects airports with partners who bring knowledge, solutions, and collaboration opportunities.

    Role of WBPs

    Act as solution providers. Serve as economic and innovation partners. Contribute to the long-term competitiveness and sustainability of the airport industry.
    Global Airport Development (GAD World)
    GAD (Global Airport Development) World is a unique event dedicated to sustainable airport business growth and infrastructure development through best practice financing, management and strategy. Patrick Lucas is member of the GAD Advisory Board—a group of experts that advises on strategy and content for the suite of GAD events.
    World Association of Public-Private Partnerships (WAPPP)
    A global non-governmental organization that helps members achieve their professional goals and promotes best practices in PPP to align with United Nations Sustainable Development Goals (SDGs). Patrick Lucas sits on the Leadership Committee of WAPPP’s Airport Chapter.
    Airports Council International Latin America-Caribbean (ACI-LAC)
    Trusted by global partners who value clarity, expertise, and strategic insight in navigating the complexities of airport economics and policy.
    Airports Council International Asia-Pacific & Middle East (ACI APAC & MID)
    Trusted by global partners who value clarity, expertise, and strategic insight in navigating the complexities of airport economics and policy.
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    Insights

    Airport World articles
    Airport World (2024) – Right for size? Small scale airport Public-Private Partnership projects
    Airport World (2023) – Small airports and the bottom line
    Airport World (2022) – Non-aeronautical revenues: Diversify and grow
    Airport World (2021) – Industry outlook – past, present and future
    Airport World (2020) – Tough times
    ACI World articles and insights:
    ACI at ICAO's A41: Modernizing Airport Policy Frameworks for the Benefit of the Travelling Public | ACI World Insights

    Airport Charges: Challenging the Conventional Wisdom | ACI World Insights

    Beyond the Rhetoric: Some Hard Facts on Airport Charges and the Industry | ACI World Insights

    The bare bones – The economics of airport infrastructure amidst the pandemic | ACI World Insights

    The high-wire balancing act — Global air transport demand in 2018 and 2019 | ACI World Insights

    Beggar-thy-neighbour policies sends international air freight traffic into the doldrums | ACI World Insights

    Mid-sized airports have their day in the sun | ACI World Insights

    Measuring airport financial performance | ACI World Insights

    Measuring airport financial performance | ACI World Insights

    The bigger get bigger while smaller airports suffer greatest loss | ACI World Insights

    Airport markets and seasonal variations | ACI World Insights

    Airport size, economies of scale, and the development cycle | ACI World Insights

    The airport business in an era of demographic change and technological disruption | ACI World Insights

    Selected interviews and webinars
    CNN (2022) – This US airport has reclaimed its title as the world’s busiest
    CNN (2021) – After more than two decades, there’s a new world’s busiest airport

    DFWC webinar: Aviation recovery between 2023-25, as travel restrictions still hurting industry

    The Moodie Davitt Report: Airport traffic recovery in Europe and Americas could take until 2025

    World Association of PPP Units & Professionals podcast (MAR 2022) – Industry Outlook

    GAD Americas 2022 (Puerto Rico) – In Conversation with Patrick Lucas, VP Economics - ACI World

    ACI World (Feb 2022) – COVID 19 Economic Impact Analysis and the Path to Recovery

    ACI World (Nov 2021) – COVID 19 Economic Impact Analysis and the Path to Recovery

    ACI World (Apr 2020) – COVID 19 Economic Impact Analysis and the Path to Recovery

    ACI World (2022) – Debunking the myths: Airport charges, competition and economic regulation

    Selected Publications
    Airport Economics Report (sample from 2014)

    World Airport Traffic Report (sample from 2019)

    Contact Us

    Let’s work together.

    Whether you're an airport operator, regulator, investor, or aviation stakeholder, we're here to support your goals with expert insight and strategic guidance.

    Let's work together