This groundbreaking book offers a critical and wide-ranging assessment of the global air transport liberalization process over the past 40 years. This compilation of world experts on air transport economics, policy, and regulation is timely and significant, considering that air transport is currently facing a series of new challenges due to technological changes, the emergence of new markets, and increased security concerns. The book initially explores liberalization within various geographical markets such as the United States, Australia, Ireland, the European Union, China, India, Latin America, and Africa. It expands upon this by addressing the main concerns that were initially leveled against air transport liberalization, including those involving safety, social services, market concentration, and the domination of hub airports as well as market instability. This analysis of air transport and its regulation will be of interest to aviation professionals, regulators, researchers, and students who are taking courses in air transport, economic regulation, and contemporary transport history.