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This paper aims to study the competitive effects of a type of strategic alliance that has received much more attention from airlines: the codeshare agreement. The intention is to evaluate the price effects caused by the implementation of codeshare when established between incumbent carriers facing the entrance of a new competitor Low Cost Carrier, a subject not yet addressed in the literature. For this, we developed an econometric model using fixed-effects estimator for application in a case study evidenced in the early 2000s, known as "Codeshare Varig-TAM". The model analyses the effects on the price of the air tickets due to the entrance of a newcomer Low Cost Carrier. The results indicate reductions on the average price in all cases. In conditions where the codeshare was not implemented, the price reduction was 12.4%. On the other hand, when the codeshare already established, the reduction was only 8.3%. These findings allow us to conclude that the codeshare can be a strategic tool for dominant airlines to mitigate the action of price reduction (and impacts on profitability) when competing directly against Low Cost Carriers.

Efeitos em preço do compartilhamento de voos de companhias aéreas como reação à presença de um competidor de baixo custo