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With the decline in new aircraft deliveries, ownership, and facilities has come a similar decline in general aviation operations, pilot certification, and sales at fixed base operators (FBOs). It is clear that, because of the challenges faced by the industry, FBOs must be well-managed to survive. Written from the academic and practical aviation experiences of the authors, this text provides the analytical tools that will assist the manager of the aviation service business who wishes to capitalize on these challenges and opportunities. It is intended to serve both undergraduate and graduate academic audiences, as well as to be a practical reference for the individual in industry. Also includes are links to additional trade and industry materials, many of which are available on the Internet from a host of professional organizations, to supplement the text.
Although introductions to courses in finance exist for a variety of fields, Robert W. Kaps provides the first text to address the subject from an aviation viewpoint. Relying on his vast experience--twenty-plus years in the airline industry and more than thirty years in aviation--Kaps seeks not only to prepare students for careers in the aviation field but also to evoke in these students an excitement about the business. Specifically, he shows students how airlines, airports, and aviation are financed. Each chapter contains examples and illustrations and ends with suggested readings and references. Following his discussion of financial management and accounting procedures, Kaps turns to financial management and sources of financial information. Here he discusses types of business organizations, corporate goals, business ethics, maximizing share price, and sources of financial information. Kaps also covers debt markets, financial statements, air transport sector revenue generation, and air transport operating cost management, including cost administration and labor costs, fuel, and landing fees and rentals. He describes in depth air transport yield management systems and airport financing, including revenues, ownership, operations, revenue generation, funding, allocation of Air Improvement Program funds, bonds, and passenger facility charges. Kaps concludes with a discussion of the preparation of a business plan, which includes advice about starting and running a business. He also provides two typical business plan outlines. While the elements of fiscal management in aviation follow generally accepted accounting principles, many nuances are germane only to the airline industry. Kaps provides a basic understanding of the principles that are applicable throughout the airline industry.
This volume provides an introduction to aviation management covering all major actors and processes, the fundamental structures, and the economic and regulatory background of the industry. It comprises contributions from experienced practitioners of the aviation industry and from scholars in that field.
This book provides a general introduction into aviation operations, covering all the relevant elements of this field and the interrelations between them. Numerous books have been written about aviation, but most are written by and for specialists, and assume a profound understanding of the fundamentals. This textbook provides the basics for understanding these fundamentals. It explains how the commercial aviation sector is structured and how technological, economic and political forces define its development and the prosperity of its players. Aviation operations have become an important field of expertise. Airlines, airports and aviation suppliers, the players in aviation, need expertise on how aircraft can be profitably exploited by connecting airports with the aim of adding value to society. This book covers all relevant aspects of aviation operations, including contemporary challenges, like capacity constraints and sustainability. This textbook delivers a fundamental understanding of the commercial aviation sector at a level ideal for first-year university students and can be a tool for lecturers in developing an aviation operations curriculum. It may also be of interest to people already employed within aviation, often specialists, seeking an accurate overview of all relevant fields of operations.
Business aviation is one of America's most important yet least understood industries. Most organizations (about 85%) operating business aircraft are small and medium-size enterprises. They include a wide range of organizations: state governments, universities, charitable organizations, and all types of businesses. While the organizations that rely on business aviation are varied, they all have one thing in common: the need for fast, flexible, safe, and secure access to destinations worldwide. Many small U.S. businesses rely on business aviation. They are located in markets where the airlines have reduced or eliminated service, making business aviation an important connection to the rest of the world. Business aviation fosters efficiency and productivity, and is essential in an intensely competitive global marketplace. This textbook, Practical Applications in Business Aviation Management, systematically examines business aviation and provides you with a complete understanding of one of America's most dynamic industries. In this comprehensive guide to business aviation management, authors James R. Cannon and Franklin D. Richey provide in-depth and useful information on all aspects of managing a corporate aviation program. The book begins with a brief look at the history of business aviation and its important role in the aviation industry. It then moves on to focus on the practical issues facing all corporate aviation programs, such as: -Regulatory compliance -Administrative issues -Aircraft and facility maintenance -Finances and budgeting -Aircraft selection and acquisition -Standard operating procedures -International operations -Human resource management -Training -Communication and teambuilding -Safety and security -And much more The book also includes a foreword by Ed Bolen, the President and CEO of the National Business Aviation Association. It is an essential tool for students and professionals who need comprehensive, accurate, and practical information on managing a corporate aviation program.
Airline Management Finance: The Essentials is of significant benefit to airline industry practitioners seeking a focused, neatly contained and accessible resource that provides explicit financial information pertinent to their current or future role. The book explains and demystifies an airline's financing and the financial reporting of its operations to airline staff and others. It seeks to explain the role of finance and the Finance Department in a non-technical way, so staff can appreciate the value of the department and its information resources, and see finance as an active contributor to the airline's operation. It concentrates on practical matters, explaining frequently used financial and accounting terms, how financial strategy works, the uses of various types of financial reporting, as well as what financial risk is and how it can be managed through the co-operation of finance and operating staff. Staff who understand the airline's finances and financial system are more likely to make decisions which align with the airline's strategy and objectives. They will also know how to use the financial information which is available. The book establishes a good foundation of financial knowledge for all staff. This book is recommended reading for new employees in airline finance and related areas, as well as those starting to move up the supervisory ladder in an airline.
Although aviation is among the safest modes of transportation in the world today, accidents still happen. In order to further reduce accidents and improve safety, proactive approaches must be adopted by the aviation community. The International Civil Aviation Organization (ICAO) has mandated that all of its member states implement Safety Management System (SMS) programs in their aviation industries. While some countries (the United States, Australia, Canada, members of the European Union and New Zealand, for example) have been engaged in SMS for a few years, it is still non-existent in many other countries. This unique and comprehensive book has been designed as a textbook for the student of aviation safety, and as an invaluable reference tool for the SMS practitioner in any segment of aviation. It discusses the quality management underpinnings of SMS, the four components, risk management, reliability engineering, SMS implementation, and the scientific rigor that must be designed into proactive safety. The authors introduce a hypothetical airline-oriented safety scenario at the beginning of the book and conclude it at the end, engaging the reader and adding interest to the text. To enhance the practical application of the material, the book also features numerous SMS in Practice commentaries by some of the most respected names in aviation safety. In this second edition of Safety Management Systems in Aviation, the authors have extensively updated relevant sections to reflect developments since the original book of 2008. New sections include: a brief history of FAA initiatives to establish SMS, data-driven safety studies, developing a system description, SMS in a flight school, and measuring SMS effectiveness.
Combining the considerable respective expertise of Triant Flouris and Dennis Lock, this unique book highlights the ways that successful businesses are managed in the aviation industry through the identification and application of proven project management methods. Theoretical concepts are defined, clarified and shown how they can be valuable to business managers and students of the aviation business sector. Aviation Project Management builds on the successful and popular work of Dennis Lock but is considerably enhanced by applications, examples, illustrations and case examples pertaining to projects exclusively from the aviation industry. Theory in the project management field is already well evolved, so the purpose of this book is not to review that theory but rather to demonstrate how the lessons of theory can be of practical use to aviation students and business managers. It provides a practical guide to those interested in how projects are managed and the common mistakes that aviation project managers should avoid.
Air transport industry finance, with its complexity and special needs such as route rights, airport slots, aircraft leasing options and frequent flyer programmes, requires specific knowledge. While there are numerous financial management and corporate finance texts available, few of these provide explanations for the singularities of the airline industry with worked examples drawn directly from the industry itself. Revised and updated in its third edition, this internationally renowned and respected book provides the essentials to understanding all areas of airline finance. Designed to address each of the distinct areas of financial management in an air transport industry context, it also shows how these fit together, while each chapter and topic provides a detailed resource which can be also consulted separately. Supported at each stage by practical airline examples, it examines the financial trends and prospects for the airline industry as a whole, contrasting the developments for the major regions and airlines. Important techniques in financial analysis are applied to the airline industry, together with critical discussion of key issues. Thoroughly amended and updated throughout, the third edition reflects the many developments that have affected the industry since 2001. It features several important new topics, including Low Cost Carriers (LCCs), fuel hedging and US Chapter 11 provisions. The sections on financial statements and privatisation have been expanded, and a new chapter has been added on equity finance and IPOs. New case studies have been added, as well as the latest available financial data. The range and perspective is even greater than before, with significant expansion of material specific to the US and Asia. The book is a key resource for students of airline management, and a sophisticated and authoritative guide for analysts in financial institutions and consultancies, executives in airlines and related industries, and civil aviation departments.