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This volume examines the role that airports play in economic development and land values, the regulation and economic efficiency of airports, airport pricing and competition, and the role played by airports in influencing airline operations and networks.
Introduction to Air Transport Economics: From Theory to Applications uniquely merges the institutional and technical aspects of the aviation industry with their theoretical economic underpinnings. In one comprehensive textbook it applies economic theory to all aspects of the aviation industry, bringing together the numerous and informative articles and institutional developments that have characterized the field of airline economics in the last two decades as well as adding a number of areas original to an aviation text. Its integrative approach offers a fresh point of view that will find favor with many students of aviation. The book offers a self-contained theory and applications-oriented text for any individual intent on entering the aviation industry as a practicing professional in the management area. It will be of greatest relevance to undergraduate and graduate students interested in obtaining a more complete understanding of the economics of the aviation industry. It will also appeal to many professionals who seek an accessible and practical explanation of the underlying economic forces that shape the industry. The second edition has been extensively updated throughout. It features new coverage of macroeconomics for managers, expanded analysis of modern revenue management and pricing decisions, and also reflects the many significant developments that have occurred since the original’s publication. Instructors will find this modernized edition easier to use in class, and suitable to a wider variety of undergraduate or graduate course structures, while industry practitioners and all readers will find it more intuitively organized and more user friendly.
This book provides a comprehensive guide to the economics of airports for all managers, regulators and educators within the aviation industry. Written by three renowned experts but made accessible and relevant for all those working within the industry, or aspiring to do so, it is the perfect entry point for learning about the underlying economics of airports as a crucial component of the air transport system. It explains the cost structures of airports and then relates these to how airports determine their charges. It explains how charges at different airports vary, whether this is due to different types of traffic, different input prices, ways of producing outputs or different levels of efficiency. Most airports are publicly owned or regulated, and there has been a trend towards privatisation. The book explains how airports have been regulated and assesses how well the regulatory structures have performed; it discusses the trend towards light-handed regulation and the reliance on competition where this exists. The book examines the problems of limited capacity at airports and how these are resolved through slots and charging systems, and the long-term solution of investment in airports—why it is controversial, and how it can be achieved effectively. It also considers the environmental impacts of airports and the issues these pose for managers, from the well-known problems of airport noise to the growing recognition of the impacts of air transport on climate change, and the roles airports play in mitigating these consequences. Written for airport and airline managers, regulators and students, this book will suit Bachelor’s and Master’s programmes on air transport management.
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 accessible, up-to-date, comprehensive, and in-depth textbook introduces students and practitioners to the principles and practice of airport marketing as well as the major changes and future marketing challenges facing the airport sector. It applies principles of marketing within the airport industry, and examines airport marketing and its environment, how to define and measure the market for airport services, airport strategic marketing planning and individual elements of the airport marketing mix (product, price, distribution and promotion). The book integrates key elements of marketing theory with airport marketing in practice. Each chapter contains extensive industry examples for different types of airports from around the world to build on the theoretical base of the subject and show real-life applications. This new second edition has been updated to include: New and expanded content on branding and the passenger experience, marketing partnerships, engagement marketing and customer relationship management. Three brand new chapters on digital marketing, marketing for a more sustainable future, and crisis communications and marketing, in light of the Covid-19 pandemic. New, global case studies and examples throughout. This comprehensive textbook written by two airport marketing experts will be essential reading for air transport students and future managers.
The Principles and Practice of International Aviation Law provides an introduction to, and demystification of, the private and public dimensions of international aviation law. Unlike other global sectors, the air transport industry is not governed by a discrete area of the law, but by disparate transnational regulatory instruments. Everything from the routes that an international air carrier can serve to the acquisition of its fleet and its liability to passengers and shippers for incidents arising from its operations can be the object of bilateral and multilateral treaties that represent diverse and often contradictory interests. Beneath this are hundreds of domestic regulatory regimes that also apply national and international rules in disparate ways. The result is an agglomeration of legal cultures that can leave even experienced lawyers and academics perplexed. By combining classical doctrinal analysis with insights from newer disciplines such as international relations and economics, the book maps international aviation law's complex terrain for new and veteran observers alike.