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In recent years the airline industry has experienced severe volatility in earnings, with airlines recording periods of substantial profits that are closely followed by periods of financial distress. This trend has continued into the new millennium, with numerous examples of airlines across the globe entering bankruptcy protection or liquidating. The text provides an introduction to both the basics of finance and the particular intricacies of airline finance where there can be significant fluctuations in both revenues and costs. This new edition also includes: capital budgeting management of current assets financial risk analysis fuel hedging aircraft leasing This textbook contains chapters that cover unique aspects of the aviation financial decision-making process. These include a rigorous and structured presentation of the buy versus lease decision that is prevalent in the industry, a valuation process for aviation assets, the recent trend toward privatization and the difficulty inherent in the valuation of a publicly-owned or semi-publicly owned asset. The Foundations of Airline Finance, now in its second edition, is an introductory text that can be used either as a general financial text or in a specialized class that deals with aviation finance in particular.
A Practical Guide to Airline Customer Service is a textbook written for airline executives and undergraduate students who are preparing for a career in the airline service industry. Those working in similar functions and fields can also benefit from this book. This book primarily focuses on the importance of customer service in the airline industry. This includes basic airline operations and essential communication skills, and how airline service agents interact with passengers at every contact point of the travel process. A Practical Guide to Airline Customer Service is a must-read for those who seek a rewarding career in the airline industry.
"Sit back, relax, and enjoy the flight," our pilots still intone. But who are they kidding? Former FAA chief counsel and senior aviation policy official Mark Gerchick unravels the unseen forces and little-known facts that have reshaped our air travel experience since September 11, 2001. With wry humor and unique insight, Gerchick takes us past the jargon, technicalities, and all-is-well platitudes to expose the new normal of air travel: from the packed planes and myriad hassles of everyday flying to the alchemy of air fares, the airlines’ endless nickel-and-diming, and the elusive hope of escape from steerage. We find out what pilots do in the cockpit, what’s really worth worrying about when it comes to airline safety, and why we get sick on planes. Meanwhile, Gerchick ponders the jarring disconnect between our quaint expectations of "service with a smile" and the grim reality of cramped seats, no-free-lunch, and "watch-yer-knees." With sympathy for both fliers and airlines, Gerchick shows how the new "business-all-business" airline industry has finally learned to make money, even in the face of crushing fuel costs, and get millions of travelers where they’re going every day safely and quickly. From his singular vantage point as former aviation regulator and policymaker, Gerchick gives us a straightforward insider’s view of how hard it is for government to improve the traveler’s lot by explaining the vagaries of consumer protection rules as well as the political realities and the economic forces at work. While Gerchick offers reasons to hope for a better future in air travel, he presents an unvarnished look at what we can expect—good and bad—when we take to the skies. Some of it will reassure you, some will make you cringe, but all will open your eyes to what it means to fly today.
2011 Updated Reprint. Updated Annually. US Air Transportation Handbook: Regulations and Business Opportunities