216 research outputs found

    Value of Options in Airport Expansion - Example of AICM

    Get PDF
    http://www-sre.wu.ac.at/ersa/ersaconfs/ersa11/e110830aFinal00149.pdfInvestments decisions for airport capacity expansion are usually taken, either when demand exceeds the current capacity and the airport is working under congestion, or when current demand is expected to overcome current capacity sometime in the near future. In any case, decisions are taken taking into account forecasts of future demand. In many situations, deterministic analysis lead to a discouraging net present value (NPV) which in turn causes delays in the deciding process and eventually leads to further losses. This paper takes the Mexico City International Airport (AICM) as example, and performs an analysis of expansion investment, both in runways and terminals capacity, taking a perspective that is twofold: we take uncertainty of demand into account based on historical data of relevant parameters; we use flexibility in design by incorporating options in project, for both new runways and new terminal. Using a binomial lattice model, we calculate the value of options, perform sensitivity analysis and determine the expected statistical distribution of NPV. We obtain significant differences when compared with the deterministic perspective, and illustrate by example how real options and flexible design may dramatically improve the attractiveness of an investment decision

    Identification and proposals for improving the terminal building bottlenecks

    Get PDF
    Long queues are part of any passenger's travel experience. When arriving at an airport, one is used to waiting in long lines and waiting times, factors which directly impact on a pleasant travel experience. Such is the importance of this event, that IATA defines several Level of Service (LOS) according to the characteristics of each process, ranging from "Excellent" (free flow of passengers and top quality comfort levels) to "Unacceptable" (crossing of passenger flows, system breakdowns, and poor comfort levels), according to IATA¿s Airport Development Reference Manual 9th edition, aiming to achieve a mid-level with good LOS that meets passengers' expectations and a terminal building that is not over-dimensioned, which means that these LOS take into account not only waiting times, but space too. This project focuses on two of the most problematic processes on the airport's land-side: check-in area and security checks. Through raw data collection, the bottleneck phenomenon will be explained by making a comparison between real flight data collected from AENA's webpage and a subsequent in-person verification at Barcelona's airport, and IATA's ADRM guidelines. Then, various strategies to solve this problem will be described in order to understand the possible configurations and effects of each of them. Real airport applications will also be addressed in the project, in order to know how other airports are dealing with these issues. Also, some digitalization solutions will be taken into account. The objective of the project is not to make a statistical analysis of the demand, nor address the space requirements for these processes, but rather to check the appearance of queues due to the strategy followed by Josep Tarradellas Barcelona - El Prat airport on a given day and time of the year, and to investigate possible solutions to ease this phenomenon.Objectius de Desenvolupament Sostenible::9 - Indústria, Innovació i Infraestructur

    Evaluating Network Analysis and Agent Based Modeling for Investigating the Stability of Commercial Air Carrier Schedules

    Get PDF
    For a number of years, the United States Federal Government has been formulating the Next Generation Air Transportation System plans for National Airspace System improvement. These improvements attempt to address air transportation holistically, but often address individual improvements in one arena such as ground or in-flight equipment. In fact, air transportation system designers have had only limited success using traditional Operations Research and parametric modeling approaches in their analyses of innovative operations. They need a systemic methodology for modeling of safety-critical infrastructure that is comprehensive, objective, and sufficiently concrete, yet simple enough to be deployed with reasonable investment. The methodology must also be amenable to quantitative analysis so issues of system safety and stability can be rigorously addressed

    The vital role of metropolitan access in commuter, regional, intercity and overnight rail passenger transportation, and its relation to technology

    Get PDF
    Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2003.Pages [179]-[202] also numbered 1-24. Vita.Includes bibliographical references.by Lexcie Lu.S.M

    Airport privatisation and performance

    Get PDF
    This study assesses the financial performance of a representative sample of 35 European commercial airports for the period 1990 to 1999 inclusive, comparing those subject to partial or full privatisation with those in public ownership. It is hypothesized that privatised airports operate more efficiently than others and that they are an attractive investment as compared to alternative capital projects. Partial factor productivity (PFP), total factor productivity (TFP) indicators and financial ratio analysis (FRA) outcomes are compared, in order to investigate differences which may be attributable to the degree of privatisation. The main results of PFP and FRA indicators are tested by an independent and a paired-samples t-test for differences between airports in public, mixed public-private and fully private ownership. Changes in performance after a change in ownership structure are reviewed. The analysis of sample data reveals economically meaningful and statistically significant differences between publicly owned and privatised airports. The latter group is not a homogeneous one but shows decisive structural differences between partially and fully privatised companies. The major differences lie in operating efficiency, asset utilization and capital structure, which vary substantially with the respective ownership status. Whereas privatised airports are more cost efficient, publicly owned airports generate comparatively higher ratios of unit revenues and work load units to total assets. Their asset turnover is higher but the capital expenditure to total revenue ratio is lower. The increased operating efficiency of partially and fully privatised airports does not, however, translate into higher returns on equity in general. Only partially privatised sample airports may be considered an attractive investment. Regarding capital structure and financing of productive assets, publicly owned airports assume more debt relatively to their respective shareholders' funds, which results in considerably higher gearing and financial leverage, compensating for the comparatively low return rate on assets. Based on the findings of this research, key success factors and value drivers of the airports' business model are identified and consequences for airport management are deduced. Major contributions to the knowledge on the subject result from an application of financial ratio analysis to the sector, including the analysis of capital structures, the usage of performance indicators and financial ratios before and after privatisation and from conducting a DEA analysis strictly based on financial variables.EThOS - Electronic Theses Online ServiceGBUnited Kingdo

    Journal of Air Transportation, Volume 11, No. 2

    Get PDF
    The following topics were covered: How Do Airlines Perceive That Strategic Alliances Affect Their Individual Branding?; Airline Choice for Domestic Flights in Sao Paulo Metropolitan Area: An Application of the Conditional Logit Model; Consequences of Feeder Delays for the Success of A380 Operations; Inside the Mechanics of Network Development: How Competition and Strategy Reorganize European Air Traffic; The Opportunities and Threats of Turning Airports into Hubs; Another Approach to Enhance Airline Safety: Using System Safety Tools; A Simulation Based Approach for Contingency Planning for Aircraft Turnaround Activities in Airline Hubs; and The Council on Aviation Accreditation: Part One- Historical Foundation

    Airline key change drivers and business environmental analysis in the Southeast Asia : strategic planning perspectives

    Get PDF
    This thesis is involved with exploration of key changes drivers and market phenomena in the Southeast Asia and the development of new conceptual frameworks for business environmental analysis of airlines. The research is constructed under the phenomenology paradigm which adopts a coherentism approach and mainly takes airline industry’s publications, statistics, and executives as units of analysis. Hermeneutic phenomenology, a single-embedded case study, concurrent triangulation mixed method, and grounded theory are all used as methodologies. Methods using document reviews, interviews, and questionnaires are applied to surface the key changes drivers, market phenomena and the perceptions of the importance of changes factors. The collected data are analysed by content analysis, thematic analysis, cognitive mapping analysis, constant comparative analysis and descriptive analysis to classify, generalise and develop into proper forms. The research reveals that ‘market’, ‘competition/strategy’, ‘regulation/policy’, ‘infrastructure/resource’, ‘cooperation’, ‘distribution’, ‘technology, and ‘broad’ factors are discovered as key change drivers. Their different importance levels are measured by occurrences, density, centrality, and tail occurrences as root causes of changes. The characteristics of their interrelationships are based on directional and influential dimensions. There are 16 emerged changes/market phenomena and 11 generalised conceptual frameworks and 3 newly developed frameworks for analysing the airline business environment. The quantitative findings from content analysis are evaluated by inter-coder analysis which achieves kappa coefficient = 0.87 indicating high reliability of the analysis. The qualitative findings are qualified through ten criteria assessment of research quality. The deliverables provide both theoretical and methodological contributions. The research limitations are found in some sources of collected data and findings which are caused by scarce data availability and three types of biases. The recommendations for future research into financial performance, changes’ leading indicators and comparative in-depth study in other ASEAN countries and regions are made.EThOS - Electronic Theses Online ServiceGBUnited Kingdo

    Model za ocenu konkurencije na tržištu vazdušnog saobraćaja : aviokompanije i alijanse

    Get PDF
    The thesis deals with several aspects of competition in long-haul market that is characterized by the presence of full-service network carriers that are typically members of large alliance groups and low-cost carrier that operates independently from any cooperation agreement. The thesis focuses on transatlantic market as one of the most lucrative airline market in the world characterized by the great number of full-service network carriers and recent influx of few low-cost carriers. In order to properly investigate the impact of low-cost carrier on full-service network carriers on competitive routes, three models were developed in the thesis. The first model presents the original econometric model designed to examine the impact of low-cost carrier on full-service network carrier’s price and number of passengers in the predefined set of long-haul city-pair markets. As airlines aim to obtain as larger portion of the market as possible, the second model in the thesis was developed to predict the airline market share on the routes characterized by the presence of low-cost carrier, as one of the competitor in long-haul city-pair markets. The model is based on the application of fuzzy logic. Taking into account the key factors that determine airline market share (price and frequency of service), the proposed market share model can provide satisfactory results without taking into consideration passengers’ perceptions towards different aspects of airline service. Measuring the airline efficiency becomes an inevitable step in assessing the airline competitive advantage. The fuzzy-based DEA CCR model is developed including the set of input and output variables carefully derived to reflect the current market outlook. The results show that major airlines which operate within alliances are generally more competitive than other mid-sized carriers, primarily due to the benefits derived from the economy of density.Doktorska disertacija razmatra nekoliko aspekata konkurencije na tržištu dugolinijskog saobraćaja na kome su prisutne kako tradicionalne aviokompanije, koje su uglavnom i članice neke od vodećih alijansi, tako i niskotarifne aviokompanije, koje posluju nezavisno od bilo kakvog korporativnog udruživanja. Fokus disertacije je na severnoatlantskom tržištu koje se ubraja u najatraktivnija tržišta na svetu na kome je tradicionalno prisutan veliki broj tradicionalnih aviokompanija, ali od skoro, i neznatan broj niskotarifnih aviokompanija. U doktorskoj disertaciji su razvijena tri modela sa ciljem da se detaljno utvrdi uticaj koji niskotarifni prevozilac ima na svoje konkurente, tradicionalne prevozioce, na dugolinijskim rutama. Prvi model predstavlja originalno razvijeni ekonometrijski model koji za cilj ima utvrđivanje uticaja niskotarifnog prevozioca na cene karata i broj prevezenih putnika tradicionalnog prevozioca na unapred definisanom skupu dugolinijskih ruta koje povezuju određene parove gradova. S obzirom na to da je jedan od osnovih ciljeva svake aviokompanije da ostvari što veći udeo na tržištu, u doktorskoj disertaciji je razvijen robusni model za predikciju učešća na tržištu aviokompanija koje obavljaju saobraćaj na dugolinijskim linijama na kojima postoji konkurencija od strane niskotarifnog prevozioca. Model je baziran na primeni fazi logike. Uzimajući u obzir ključne faktore koji određuju udeo na tržištu posmatrane aviokompanije, predloženi model daje zadovoljavajuće rezultate bez potrebe uzimanja u obzir preferencije putnika prema određenim aspektima usluge. Merenje efikasnosti aviokompanija predstavlja neizostavni stepenik u oceni konkurentske prednosti posmatrane aviokompanije. Fazi DEA CCR model razvijen u ovoj disertaciji je baziran na pažljivo izabranom skupu ulaznih i izlaznih promenljivih kako bi što bolje opisalo trenutno stanje na evropskom tržištu. Rezultati ukazuju da su velike tradicionalne aviokompanije, koje ujedno predstvaljaju i stožere alijansi, konkurentnije od manjihtradicionalnih aviokomapanija, pre svega zbog benefita ostvarenih kroz efekat ekonomije obima

    Designing flexibility into airport passenger buildings : the benefits of multifunctional space and facilities

    Get PDF
    Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2000.Includes bibliographical references (leaves 113-120).by Steven C. Belin.S.M
    corecore