IS THE AIRLINE INDUSTRY A NATURAL MONOPOLY 201 that mutual restraint still plays an important role in the airline sector, even after the emergence of LCCs. In the postliberalisation period, the development of direct competition between LCCs and FSCs remained somewhat limited (around 10% of the routes66). The EU and national competition authorities and courts face the same difficult challenge. Their task is particularly complex in the framework of prospective pre-merger situation because they must identify on each relevant market what is the potential part of forbearance and what is the part of rivalry. Beyond natural differences in their approach, EU antitrust law enforcement and airline economics can share the common view that a “mix of rivalry and forbearance exists for European airlines and could be part of a universal form of competition between firms”67. REFERENCES Intra-EU Mergers EU Commission Decision 12/07/2018, Ryanair/Laudamotion, Case No M.8869, OJ C366 10/10/2018, “Ryanair/Laudamotion (2018)”. EU Commission Decision 14/07/2015, IAG/Aer Lingus, Case No M.7541, OJ C314 23/09/2015, “IAG/Aer Lingus (2016)”. EU Commission Decision 09/10/2013, Aegean/Olympic II, Case No. COMP/M.6796, OJ C25 24/01/2015, “Aegean/Olympic II (2013)”. EU Commission Decision 27/02/2013, Ryanair/Aer Lingus III, Case No. COMP/M.6663, OJ C216 30/07/2013, “Ryanair/Aer Lingus III (2013)”. EU Commission Decision 27/02/2013, IAG/BMI, Case No. COMP/M.6447, OJ C161 07/06/2012, “IAG/BMI (2012)”. EU Commission Decision 26/01/2011, Olympic/Aegean Airlines, Case No. COMP/M.5830, OJ C195 03/07/2012, “Aegean/Olympic (2011)”. EU Commission Decision 14/07/2010, British Airways/Iberia, Case No. COMP/M.5747, OJ C 241 08/09/2010, “British Airways/Iberia (2010)”. EU Commission Decision 14/07/2010, British Airways/Iberia, Case No. COMP/M.5747, OJ C 241 08/09/2010, “British Airways/Iberia (2010)”. EU Commission Decision 28/08/2009, Lufthansa/Austrian, Case No. COMP/M.5440, OJ C 16 22/01/2010, “Lufthansa/Austrian (2009)”. EU Commission Decision du 22/06/2009, Lufthansa/SN Airhodling, Case No. COMP/M.5335, OJ C 312 du 06/12/2009, “Lufthansa/SN Brussels (2009)”. 66 OECD, Discussion Paper, 2015, “EUAirTransport Liberalisation Process, Impacts and Future Considerations”. 67 Ghertman & Guedri, 2012, “Rivalry and Forbearance in the European Airline Industry: Evidence of an Inverted U-Shaped Competitive Pattern”. International Management, 16(4), 23–40. https://doi. org/10.7202/1013147ar; This Study brought empirical evidence for the inverted relation between the level of multi-territory contact and the level of forbearance a measured by entries and exits into and from the territory of a competitor in the context of the European airline industry between 2002 and 2006.
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