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able 4 shows the results of the CR4 concentration analysis obtained by collecting the market shares of the 4 airlines with the largest market share on a country-by-country basis. Among developed countries, [taly and Israel are two countries which have the most competitive market structure. These two countries are followed by Germany, Japan, the Czech Republic, and the United Kingdom. With the deregulation in 1978, the United States has pursued liberal policies and adopted the open skies policy through agreements with countries. Thanks to these agreements, the United States expanded more easily into foreign markets. This movement in the United States has triggered other countries, and the EU countries made similar agreements. In 1992, EU created a single market in aviation formed part of the move to a single internal market. This led to increasing competition on international airline markets in some EU member states. The results support the assumption that the competition among EU member states increase. On the other hand, based on the results of the CR4 concentration analysis, the Irish airline market has high concentration value and only 4 airlines dominate a very large part of the market (94%). Table 4: CR4 Analysis Results (Developed Countries)

Table 4 able 4 shows the results of the CR4 concentration analysis obtained by collecting the market shares of the 4 airlines with the largest market share on a country-by-country basis. Among developed countries, [taly and Israel are two countries which have the most competitive market structure. These two countries are followed by Germany, Japan, the Czech Republic, and the United Kingdom. With the deregulation in 1978, the United States has pursued liberal policies and adopted the open skies policy through agreements with countries. Thanks to these agreements, the United States expanded more easily into foreign markets. This movement in the United States has triggered other countries, and the EU countries made similar agreements. In 1992, EU created a single market in aviation formed part of the move to a single internal market. This led to increasing competition on international airline markets in some EU member states. The results support the assumption that the competition among EU member states increase. On the other hand, based on the results of the CR4 concentration analysis, the Irish airline market has high concentration value and only 4 airlines dominate a very large part of the market (94%). Table 4: CR4 Analysis Results (Developed Countries)

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Table 1 shows the results of the CR4 concentration analysis obtained by collecting the market shares of the 4 airlines with the largest market share on a country-by-country basis. Accordingly, the concentratior values in Turkey and Brazil are quite high. There has been an increasing concentration in both countries over the years. In this context, it has been revealed that the Turkish and Brazilian airline markets are fat from competitive compared to other countries. Moreover, markets in these two countries present the structural characteristics of an oligopoly since the four largest airlines in the market capture almost all o market share. On the other hand, at this point, as one of the developing country, India should be mentioned, whose market structure has evolved towards a competitive structure. India has the mos competitive market structure among the mentioned countries. In fact, the value of CR4 was significantly below the value of 30, which indicates low concentration, in 2020. From a competitive market point o view, India is followed by Ukraine. Although the Ukrainian airline market with ups and downs evolved into high concentration market structure in the years between 2013 and 2015, then concentration values decreased and the market evolved into a more competitive structure. Table 1: CR4 Analysis Results (Emerging Countries) In n-firm concentration ratio, n denotes the number of players in the market. In this context, the market can be analyzed in different ways by n taking values such as 2, 4, 8, and 12. N-firm concentration ratio takes values between 0 and 100, and values more than 70 indicates a market that is far from a competitive structure. If the value reaches 100, there is only one player in the market. Accordingly, Table 1 includes the results of market concentration according to the CR4 analysis for developing countries between2011 and 2020.
Table 1 shows the results of the CR4 concentration analysis obtained by collecting the market shares of the 4 airlines with the largest market share on a country-by-country basis. Accordingly, the concentratior values in Turkey and Brazil are quite high. There has been an increasing concentration in both countries over the years. In this context, it has been revealed that the Turkish and Brazilian airline markets are fat from competitive compared to other countries. Moreover, markets in these two countries present the structural characteristics of an oligopoly since the four largest airlines in the market capture almost all o market share. On the other hand, at this point, as one of the developing country, India should be mentioned, whose market structure has evolved towards a competitive structure. India has the mos competitive market structure among the mentioned countries. In fact, the value of CR4 was significantly below the value of 30, which indicates low concentration, in 2020. From a competitive market point o view, India is followed by Ukraine. Although the Ukrainian airline market with ups and downs evolved into high concentration market structure in the years between 2013 and 2015, then concentration values decreased and the market evolved into a more competitive structure. Table 1: CR4 Analysis Results (Emerging Countries) In n-firm concentration ratio, n denotes the number of players in the market. In this context, the market can be analyzed in different ways by n taking values such as 2, 4, 8, and 12. N-firm concentration ratio takes values between 0 and 100, and values more than 70 indicates a market that is far from a competitive structure. If the value reaches 100, there is only one player in the market. Accordingly, Table 1 includes the results of market concentration according to the CR4 analysis for developing countries between2011 and 2020.
Table 2 shows the the 8 airlines with results of the CR8 concentration analysis obtained by collecting the marke concentration analysis together with CR4, we reach similar results. Turkey and Brazil t shares of the largest market share on a country-by-country basis. Evaluating the results of CR8 have high concentration values similar to the results of CR4 concentration analysis. In Brazil, 8 airlines capture almost all the mar airlines dominate t into a more compe ket. Turkey's CR4 and CR8 concentration values are similar due the fact t titive market structure. hat only 4 he market in Turkey. On the other hand, according to the results of CR8, India evolves Table 2: CR8 Analysis Results (Emerging Countries)
Table 2 shows the the 8 airlines with results of the CR8 concentration analysis obtained by collecting the marke concentration analysis together with CR4, we reach similar results. Turkey and Brazil t shares of the largest market share on a country-by-country basis. Evaluating the results of CR8 have high concentration values similar to the results of CR4 concentration analysis. In Brazil, 8 airlines capture almost all the mar airlines dominate t into a more compe ket. Turkey's CR4 and CR8 concentration values are similar due the fact t titive market structure. hat only 4 he market in Turkey. On the other hand, according to the results of CR8, India evolves Table 2: CR8 Analysis Results (Emerging Countries)
HHI takes a value between 0-10000. As the value increases, the market structure becomes less competitive. The closer a market is to a monopoly, the higher the market's concentration. According to the results in the Table given above, the market structures of developing countries have varied. India and Ukraine have more competitive market structure compared to the other countries. In particular, India had low concentration values between 2011 and 2020. Ukraine had low concentration values except for the period from 2013 to 2015. When taking the average into account, it could be said that Bulgaria and Romania have low average concentration values compared to the other developing countries. On the Table 3: HHI Analysis Results (Emerging Countries)
HHI takes a value between 0-10000. As the value increases, the market structure becomes less competitive. The closer a market is to a monopoly, the higher the market's concentration. According to the results in the Table given above, the market structures of developing countries have varied. India and Ukraine have more competitive market structure compared to the other countries. In particular, India had low concentration values between 2011 and 2020. Ukraine had low concentration values except for the period from 2013 to 2015. When taking the average into account, it could be said that Bulgaria and Romania have low average concentration values compared to the other developing countries. On the Table 3: HHI Analysis Results (Emerging Countries)
Table 5: CR4 Analysis Results (Developed Countries) able 5 shows the results of the CR8 concentration analysis obtained by collecting the market shares of 1e 8 airlines with the largest market share on a country-by-country basis. Evaluating the results of CR8 yncentration analysis together with CR4 gives similar results. It is seen that Israel and Italy have less oncentrated markets. Japan follows these two countries in terms of its competitive market structure and 10ws features of moderately concentrated market structure. Comparison of the CR4 and CR8 values of .pan reveals that the difference between values is not much, and four airlines dominate the market. The varket structures of Australia, the Netherlands, Sweden and Switzerland, have not changed much and 1e concentration values have not fluctuated. In countries such as Denmark, the United Kingdom, Spain nd Germany, we see that the market became more concentrated from 2011 to 2020. After giving the sults of the CR4 and CR8 analyses, Table 6 gives the results of market concentration of developed yuntries based on the HHI analysis. While 10 countries out of 24 are considered as highly concentrated markets, the rest is considered as moderately concentrated markets. Concentration values of Italy and Israel belonging to moderately concentrated markets are close to values of markets which are less concentrated. After the CR4 concentration results, Table 5 provides the market concentration results of developed countries based on the CR8 analysis between 2011 and 2020.
Table 5: CR4 Analysis Results (Developed Countries) able 5 shows the results of the CR8 concentration analysis obtained by collecting the market shares of 1e 8 airlines with the largest market share on a country-by-country basis. Evaluating the results of CR8 yncentration analysis together with CR4 gives similar results. It is seen that Israel and Italy have less oncentrated markets. Japan follows these two countries in terms of its competitive market structure and 10ws features of moderately concentrated market structure. Comparison of the CR4 and CR8 values of .pan reveals that the difference between values is not much, and four airlines dominate the market. The varket structures of Australia, the Netherlands, Sweden and Switzerland, have not changed much and 1e concentration values have not fluctuated. In countries such as Denmark, the United Kingdom, Spain nd Germany, we see that the market became more concentrated from 2011 to 2020. After giving the sults of the CR4 and CR8 analyses, Table 6 gives the results of market concentration of developed yuntries based on the HHI analysis. While 10 countries out of 24 are considered as highly concentrated markets, the rest is considered as moderately concentrated markets. Concentration values of Italy and Israel belonging to moderately concentrated markets are close to values of markets which are less concentrated. After the CR4 concentration results, Table 5 provides the market concentration results of developed countries based on the CR8 analysis between 2011 and 2020.
According to the results in table 6, Italy is one of the leading competitive markets in developed countries. Italy's HHI value indicates a low concentration market. Italy is followed by Israel, and these two countries are considered as competitive markets similar to two previous analysis. According to some HH analysis classifications, Czech Republic, Portugal, Japan, Slovenia, the United Kingdom and the United States are considered as low concentrated markets. Based on N firm concentration ratio, Some of these countries are classified as moderately and high concentrated markets. On the other hand, due to the fac that the difference between the market shares of the airlines operating in these countries is not very large, different results are obtained in the HHI analysis. Moreover, HHI values of Austria, Switzerland and Ireland are over 4000. These countries are classified as high concentrated markets in all classifications. These countries are followed by Australia, the Netherlands and Finland. Along with these countries Canada and France may also be considered as high concentrated markets. Markets in the United Kingdom, Belgium, Spain and Germany are becoming increasingly concentrated. On the other hand, markets in Italy and Israel evolve into low concentrated and competitive markets. XN Havayolu Endiistrisinde Pazar Yapisi ve Rekabet: Gelismekte Olan ve Gelismis Ekonomilerden Kanuitlar Market Structure and Competition in the Airline Industry: Evidence from Emerging and Developed Economi Havayolu Endiistrisinde Pazar Yapisi ve Rekabet: Gelismekte Olan ve Gelismis Ekonomilerden Kanitlar
According to the results in table 6, Italy is one of the leading competitive markets in developed countries. Italy's HHI value indicates a low concentration market. Italy is followed by Israel, and these two countries are considered as competitive markets similar to two previous analysis. According to some HH analysis classifications, Czech Republic, Portugal, Japan, Slovenia, the United Kingdom and the United States are considered as low concentrated markets. Based on N firm concentration ratio, Some of these countries are classified as moderately and high concentrated markets. On the other hand, due to the fac that the difference between the market shares of the airlines operating in these countries is not very large, different results are obtained in the HHI analysis. Moreover, HHI values of Austria, Switzerland and Ireland are over 4000. These countries are classified as high concentrated markets in all classifications. These countries are followed by Australia, the Netherlands and Finland. Along with these countries Canada and France may also be considered as high concentrated markets. Markets in the United Kingdom, Belgium, Spain and Germany are becoming increasingly concentrated. On the other hand, markets in Italy and Israel evolve into low concentrated and competitive markets. XN Havayolu Endiistrisinde Pazar Yapisi ve Rekabet: Gelismekte Olan ve Gelismis Ekonomilerden Kanuitlar Market Structure and Competition in the Airline Industry: Evidence from Emerging and Developed Economi Havayolu Endiistrisinde Pazar Yapisi ve Rekabet: Gelismekte Olan ve Gelismis Ekonomilerden Kanitlar
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