The Research Of The Diversified Financing Model Of Large International Airport

Large international airport is the node and base of the aviation transportation network, concentrating a great deal of people stream, material stream, capital stream and information stream. The airport is becoming an important power of the reginal economy, so how to raise money for airport development is the key problem to study.Privatization is the leading direction of airport development. Efficiency and benefit of airport management can be achieved by transferring airport ownership and operation right.The paper put forward a diversified financing model(DFM) of large international airport, on the base of summing-up and analysis of overseas and domestic airport financing model. Firstly, public goods attribute, natural monopoly attribute, base industry attribute of airport is analyzed. By the operationable and partitionable, the airport projects are classified into 4 types: I type project, II type project, III type project, IV type project. By ownership and operation right transferring or not, financing models are classified into 12 types. Then by combination of non-operational and operational project, non-partitionable and partitionable projects, the financing models are matched to the project combination and the diversified financing model comes into being. The financing models of some typical project combination are discussed. And the diversified financing forms the diversified investment body and investment work-division framework. Finaly, marketization operating mechanism of DFM is put forward, namely selecting investor and forming winning bid by advertised bidding on market. Winning bid forming model(WBFM) is advanced and it explains the mechanism of winning bid forming in theory. The Winning bid is formed under a series of mechanism, and it is the compositive reflection of various of factors. Marketization operation makes risk allocate between the public and the private effectively.