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The book provides a comprehensive overview of current practices and future directions in airline revenue management. It explains state-of-the-art revenue management approaches and outlines how these will be augmented and enhanced through modern data science and machine learning methods in the future. Several practical examples and applications will make the reader familiar with the relevance of the corresponding ideas and concepts for an airline commercial organization. The book is ideal for both students in the field of airline and tourism management as well as for practitioners and industry experts seeking to refresh their knowledge about current and future revenue management approaches, as well as to get an introductory understanding of data science and machine learning methods. Each chapter closes with a checkpoint, allowing the reader to deepen the understanding of the contents covered.This textbook has been recommended and developed for university courses in Germany, Austria and Switzerland.
Accurate forecasts are crucial to a revenue management system. Poor estimates of demand lead to inadequate inventory controls and sub-optimal revenue performance. Forecasting for airline revenue management systems is inherently difficult. Competitive actions, seasonal factors, the economic environment, and constant fare changes are a few of the hurdles that must be overcome. In addition, the fact that most of the historical demand data is censored further complicates the problem. This dissertation examines the challenge of forecasting for an airline revenue management system in the presence of censored demand data. This dissertation analyzed the improvement in forecast accuracy that results from estimating demand by unconstraining the censored data. Little research has been done on unconstraining censored data for revenue management systems. Airlines tend to either ignore the problem or use very simple ad hoc methods to deal with it. A literature review explores the current methods for unconstraining censored data. Also, practices borrowed from areas outside of revenue management are adapted to this application. For example, the Expectation-Maximization (EM) and other imputation methods were investigated. These methods are evaluated and tested using simulation and actual airline data. An extension to the EM algorithm that results in a 41% improvement in forecast accuracy is presented.
Revenue management (RM) has emerged as one of the most important new business practices in recent times. This book is the first comprehensive reference book to be published in the field of RM. It unifies the field, drawing from industry sources as well as relevant research from disparate disciplines, as well as documenting industry practices and implementation details. Successful hardcover version published in April 2004.
This book chronicles airline revenue management from its early origins to the last frontier. Since its inception revenue management has now become an integral part of the airline business process for competitive advantage. The field has progressed from inventory control of the base fare, to managing bundles of base fare and air ancillaries, to the precise inventory control at the individual seat level. The author provides an end-to-end view of pricing and revenue management in the airline industry covering airline pricing, advances in revenue management, availability, and air shopping, offer management and product distribution, agency revenue management, impact of revenue management across airline planning and operations, and emerging technologies is travel. The target audience of this book is practitioners who want to understand the basics and have an end-to-end view of revenue management.
Extensively revised and updated edition of the bestselling textbook, provides an overview of recent global airline industry evolution and future challenges Examines the perspectives of the many stakeholders in the global airline industry, including airlines, airports, air traffic services, governments, labor unions, in addition to passengers Describes how these different players have contributed to the evolution of competition in the global airline industry, and the implications for its future evolution Includes many facets of the airline industry not covered elsewhere in any single book, for example, safety and security, labor relations and environmental impacts of aviation Highlights recent developments such as changing airline business models, growth of emerging airlines, plans for modernizing air traffic management, and opportunities offered by new information technologies for ticket distribution Provides detailed data on airline performance and economics updated through 2013
260 2 Crew Legalities and Crew Pairing Repair 264 3 Model and Mathematical Formulation 266 4 Solution Methodology 271 5 Computational Experiences 277 6 Conclusion 285 REFERENCES 286 10 THE USE OF OPTIMIZATION TO PERFORM AIR TRAFFIC FLOW MANAGEMENT Kenneth Lindsay, E. Andrew Boyd, George Booth, and Charles Harvey 287 1 Introduction 288 2 The Traffic Flow Management (TFM) Problem 289 3 Recent TFM Optimization Models 292 4 The Time Assignment Model (TAM) 302 5 Summary and Conclusions 307 REFERENCES 309 11 THE PROCESSES OF AIRLINE SYSTEM OPERATIONS CONTROL Seth C. Grandeau, Michael D. Clarke, and Dennis F.X. Mathaisel 312 1 Introduction 313 2 The Four Phases of Airline Schedule Development 315 The Airline Operations Control Center (OCC) 3 320 4 Analysis of Operational Problems 331 5 Areas For Improvement 352 6 Case Study: PT Garuda Indonesia Airlines 357 REFERENCES 368 12 THE COMPLEX CONFIGURATION MODEL Bruce W. Patty and Jim Diamond 370 1 Introduction 370 Problem Description 2 371 Problem Formulation 3 375 4 Model Implementation 379 ix Contents 383 5 Summary REFERENCES 383 13 INTEGRATED AIRLINE SCHEDULE PLANNING Cynthia Barnhart, Fang Lu, and Rajesh Shenoi 384 1 Introduction 385 2 Fleet Assignment and Crew Pairing Problems: Existing M- els and Algorithms 388 3 An Integrated Approximate Fleet Assignment and Crew Pa- ing Model 393 4 An Advanced Integrated Solution Approach 395 5 Case Study 396 6 Conclusions and Future Research Directions 399 REFERENCES 401 14 AIRLINE SCHEDULE PERTURBATION PROBLEM: LANDING AND TAKEOFF WITH
A concise resource to the best practices and problem-solving ideas for understanding the airline network planning and scheduling process Airline Network Planning and Scheduling offers a comprehensive resource that is filled with the industry's best practices that can help to inform decision-modeling and the problem-solving process. Written by two industry experts, the book is designed to be an accessible guide that contains information for addressing complex challenges, problems, and approaches that arise on the job. The chapters begin by addressing the complex topics at a broad, conceptual level before moving on to more detailed modeling in later chapters. This approach follows the standard airline planning process and reflects the duties of the day-to-day job of network/schedule planners. To help gain a practical understanding of the information presented, each chapter includes exercises and data based on real-world case studies. In addition, throughout the book there are graphs and illustrations as well as, information on the most recent advances in airline network and planning research. This important resource: Takes a practical approach when detailing airline network planning and scheduling practices as opposed to a theoretical perspective Puts the focus on the complexity and main challenges as well as current practices and approaches to problem-solving and decision-making Presents the information in a logical sequence that begins with broad, conceptual topics and gradually delves into more advanced topics that address modeling Contains international standard airline planning processes, the day-to-day responsibilities of the job, and outlines the steps taken when building an airline network and schedule Includes numerous case studies, exercises, graphs, and illustrations throughout Written for professionals and academics, Airline Network Planning and Scheduling offers a resource for understanding best practices and models as well as the challenges involved with network planning and scheduling.
This is the first comprehensive introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. Solutions to the end-of-chapter exercises are available to instructors who are using this book in their courses. For access to the solutions manual, please contact [email protected].
260 2 Crew Legalities and Crew Pairing Repair 264 3 Model and Mathematical Formulation 266 4 Solution Methodology 271 5 Computational Experiences 277 6 Conclusion 285 REFERENCES 286 10 THE USE OF OPTIMIZATION TO PERFORM AIR TRAFFIC FLOW MANAGEMENT Kenneth Lindsay, E. Andrew Boyd, George Booth, and Charles Harvey 287 1 Introduction 288 2 The Traffic Flow Management (TFM) Problem 289 3 Recent TFM Optimization Models 292 4 The Time Assignment Model (TAM) 302 5 Summary and Conclusions 307 REFERENCES 309 11 THE PROCESSES OF AIRLINE SYSTEM OPERATIONS CONTROL Seth C. Grandeau, Michael D. Clarke, and Dennis F.X. Mathaisel 312 1 Introduction 313 2 The Four Phases of Airline Schedule Development 315 The Airline Operations Control Center (OCC) 3 320 4 Analysis of Operational Problems 331 5 Areas For Improvement 352 6 Case Study: PT Garuda Indonesia Airlines 357 REFERENCES 368 12 THE COMPLEX CONFIGURATION MODEL Bruce W. Patty and Jim Diamond 370 1 Introduction 370 Problem Description 2 371 Problem Formulation 3 375 4 Model Implementation 379 ix Contents 383 5 Summary REFERENCES 383 13 INTEGRATED AIRLINE SCHEDULE PLANNING Cynthia Barnhart, Fang Lu, and Rajesh Shenoi 384 1 Introduction 385 2 Fleet Assignment and Crew Pairing Problems: Existing M- els and Algorithms 388 3 An Integrated Approximate Fleet Assignment and Crew Pa- ing Model 393 4 An Advanced Integrated Solution Approach 395 5 Case Study 396 6 Conclusions and Future Research Directions 399 REFERENCES 401 14 AIRLINE SCHEDULE PERTURBATION PROBLEM: LANDING AND TAKEOFF WITH
This book reviews Operations Research theory, applications and practice in seven major areas of airline planning and operations. In each area, a team of academic and industry experts provides an overview of the business and technical landscape, a view of current best practices, a summary of open research questions and suggestions for relevant future research. There are several common themes in current airline Operations Research efforts. First is a growing focus on the customer in terms of: 1) what they want; 2) what they are willing to pay for services; and 3) how they are impacted by planning, marketing and operational decisions. Second, as algorithms improve and computing power increases, the scope of modeling applications expands, often re-integrating processes that had been broken into smaller parts in order to solve them in the past. Finally, there is a growing awareness of the uncertainty in many airline planning and operational processes and decisions. Airlines now recognize the need to develop ‘robust’ solutions that effectively cover many possible outcomes, not just the best case, “blue sky” scenario. Individual chapters cover: Customer Modeling methodologies, including current and emerging applications. Airline Planning and Schedule Development, with a look at many remaining open research questions. Revenue Management, including a view of current business and technical landscapes, as well as suggested areas for future research. Airline Distribution -- a comprehensive overview of this newly emerging area. Crew Management Information Systems, including a review of recent algorithmic advances, as well as the development of information systems that facilitate the integration of crew management modeling with airline planning and operations. Airline Operations, with consideration of recent advances and successes in solving the airline operations problem. Air Traffic Flow Management, including the modeling environment and opportunities for both Air Traffic Flow Management and the airlines.