The new econometric analysis is comprehensive, based on over 500 regression models. Building on the previous studies, the new econometric analysis develops a set of in-depth guidelines, and guideline elasticities, that can be applied to the analysis of different air markets. Base elasticity estimates are developed for the different levels of aggregation (route, national and supra-national level). Multiplicative estimates were then developed to adjust the elasticities to reflect specific geographical markets.