The impact of the 2008 Economic Crisis in the efficiency of Spanish airports: A DEA Analysis

Resumen

We study DEA efficiencies of 47 Spanish airports over the period 2009-2013 under 186 input/output specifications obtained by combining 6 inputs and 5 outputs. The results are analysed using the tools of multivariate statistical analysis, in particular the Individual Differences Scaling model of Caroll and Chang (1970). This model reveals what has remained invariant over the period, what are the most salient characteristics of efficiency for individual airports, and how these characteristics have changed in importance during the crisis period. It also discloses the strengths and weaknesses of each airport in terms of efficiency. Given the large differences in size between the airports, we use the Variable Returns to Scale approach. Since it is a characteristic of economic crisis that some capacity remains idle, we use the output oriented form of DEA. The results reveal important changes in efficiency between 2009 and 2010, followed by a period of slow return to the pre-crisis situation.