Using U.S. airport data from 2009 through 2016, this thesis examines the determinants of aeronautical charges of large and medium hub airports and accounts for the spatial dependence of neighboring airports in a spatial panel regression model. The major finding of this thesis are (1) U.S. airports’ aeronautical charges are spatially dependent, and neighboring airport charges are spatially and positively correlated; (2) there is evidence of airport cost recovery through non-aeronautical revenues; (3) airports sharing non-aeronautical revenues with airlines charge lower aeronautical fees than their peers that do not share revenues; (4) aeronautical charges increase with higher delays.