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In recent decades full-service airlines have targeted price-sensitive passengers, traditionally targeted by low-cost airlines, by promoting their economy class options. This paper aims to guide both types of airlines in promoting their economyclass options by utilizing factors influencing passenger preferences and loyalty. This paper identifies the relationship between the factors influencing economy-class passengers' airline preferences and passenger loyalty. It also shows the moderating the role of the airline business models, i.e., full-service and low-cost, in this relationship. The data was collected at airports from 418 passengers who had just traveled or would soon travel. The results indicate that schedule convenience influences the airline choice of economy-class passengers the most. Furthermore, passenger loyalty is significantly influenced by in-flight experience, schedule convenience, and punctuality, but not by affordability, assurance, and booking experience. Additionally, the type of airline business model moderates the influence of affordability on passenger loyalty. Full-service and low-cost airlines targeting price-sensitive passengers with economy class options are recommended to ensure schedule convenience and punctuality. [ABSTRACT FROM AUTHOR]

Pakistan International Airlines (PIA), established in 1955, after witnessing the days of glory has declined to the highest loss-making enterprise in Pakistan. Its global footprint and reputation are at a loss with every passing day. PIA faces challenges not only on international fronts but also with local airlines on various routes to the Middle East. The current state of affairs cannot be attributed to one factor but rather a multitude of factors primarily from operational mismanagement and lack of accountability to the adverse impact of policies. This paper highlights the commercial aviation environment and trends, factors of success to present times of downfall, emphasizing the contributing factors. This paper also focuses on strategies and efforts that can be made to ensure the resolution of present PIA issues and reconstruct the breakages that made the successful airline go to the verge of doom. The qualitative paper in nature is primarily based on unstructured interviews of different management tiers of PIA, Pakistan Civil Aviation Authority (PCAA), Aviation Division, professionals from the aviation industry and union representatives. [ABSTRACT FROM AUTHOR]

The aviation sector, essential for global trade, tourism, and cultural interaction, has evolved from a luxury to a vital economic component, generating billions annually. However, the Covid-19 pandemic has drastically reduced air travel demand and revenue, leading many airlines into financial distress, insolvency, and potential bankruptcy. This study examines the legal and policy frameworks addressing aviation insolvency, historical and contemporary causes of financial distress, and the impact on airline employees, clients, and suppliers. It evaluates government bailout programs and the role of aviation leasing companies and financiers in the bankruptcy process. Additionally, the study analyzes cross-border bankruptcy issues and their effects on global coordination. Besides discussing alternative funding and investment models for the industry’s recovery, the paper offers insights and recommendations for policymakers, to ensure the aviation sector’s long-term viability and resilience postpandemic. [ABSTRACT FROM AUTHOR]

Airline efficiency growth is considered one of the key factors for aviation sustainability in Africa and for creating a successful relationship between aviation activities and economic development in the continent. This paper proposes estimating the efficiency of African airlines in the period 2010–2019 using a state-of-the-art stochastic frontier model disentangling persistent efficiency, transient efficiency, and unobserved heterogeneity. We also examine the impact on both persistent and transient efficiency of (i) ownership structure, (ii) political stability, (iii) airline geographical location, (iv) airline domicile country's economic freedom, and (v) airline participation in a global alliance. We find evidence of relatively low efficiency and decreasing returns to scale, implying that it is important to achieve better utilization of inputs. Our findings also suggest that protectionism seems still an important driver of efficiency in a context characterized by a lack of liberalization. However, enhanced economic freedom is found to be more relevant in improving the efficiencies of African airlines, suggesting that policy interventions aimed at speeding up the liberalization process may help to remove the conditions that make air carriers operate inefficiently. [ABSTRACT FROM AUTHOR]

Customers have become accustomed to a highly streamlined and personalized experience when shopping online. While tech giants such as Apple, Amazon, and Netflix are experts in using customer information and shopping context to deliver relevant offers, airlines are falling behind in this regard with their static content and one-size-fits-all retailing approach. To meet the growing expectations of their customers, the airline industry has expressed a vision for dynamic offer creation, which will allow airlines to dynamically bundle and price a set of offers that is customized to the context of the shopping request. Realizing this vision requires significant advancements in both distribution and science. On the distribution side, these advancements will come with the adoption of the New Distribution Capability. On the science side, which is the focus of this paper, little progress has been made despite years of research. In particular, airlines still lack a tractable scientific model to dynamically create and price offer sets at scale. In this paper, we present a novel approach to solve the airline dynamic offer creation problem using a Markov chain choice model. Our model displays attractive qualitative properties—the resulting offers and prices are chosen in such a way as to discourage purchases of unprofitable offers and nudge customers towards more profitable ones. Our model naturally proposes offers that are relevant to the customer, as including irrelevant offers in the offer set leads to a reduction in revenue and ancillary purchase rates. In a simulation study with two customer segments, we find that our model significantly increases ancillary revenue over a naïve, unsegmented pricing model that mimics current state-of-the-art practice. While our studies are conducted under several idealized assumptions, they demonstrate a substantial revenue potential from dynamic offer creation in both unsegmented and segmented applications. [ABSTRACT FROM AUTHOR]

The background and contents of the Special Issue (SI) of "Integration and Cooperation in International Transportation" are summarized. The aim of the SI is the attraction and presentation of high-quality papers concerning this topic. "COOPERATION" and "INTEGRATION" are two promising topics of the published 8 papers. The beneficiaries of SI include academic researchers, shipping companies, railway companies, airline companies, terminal operators, and policy-makers [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to analyze the correlation between the Twitter activity of two airline companies and their stock performance at the Istanbul Stock Exchange (BIST). Design/methodology/approach: Overall, 113,018 tweets were divided into 34,152 semantic and 78,866 share tweets. Semantic tweets are tweets mentioning company's products or services and were labeled manually and with deep learning models. Share tweets were divided into 13,618 relevant and 65,248 irrelevant tweets. Findings: A positive correlation was found between share tweets and stock performance. Semantic tweets did not display a correlation with stock performance. Relevant share tweets displayed as a strong correlation as all share tweets for one company. Also, the manual labeling of 8,000 tweets led to the discovery of many insights related to service provision in the airway industry, management of digital support channels, management of reputation on social media and using Twitter as a customer support platform. Practical implications: Relevant share tweets comprise only 20% of all share tweets for one company and show the same level of correlation with stock performance. This means that the efficiency of business intelligence solutions created to monitor Twitter activity can be improved five times by saving computational power, network bandwidth and data storage. Originality/value: Previous research has analyzed all Twitter activity taken together. By dividing tweets into semantic and share tweets, this paper illustrates that it is, in fact, share tweets that are correlated with stock performance and not semantic tweets. [ABSTRACT FROM AUTHOR]

This paper analyzes the case law of the Court of Justice of the European Union (CJEU) on Article 17(1) of the 1999 Montreal Convention (MC99) regarding the liability of international air carriers for death or bodily injury to passengers. The interpretational principles and methods applied by the CJEU are examined, accounting also for the particularities of the EU legal order. Furthermore, the results reached by the CJEU are compared with the case law of other jurisdictions, mainly the US, and doctrinal writings. Nonetheless, this paper does not explore the pertinent issues from a de lege ferenda perspective. The paper concludes that the judgments of the CJEU on Art. 17(1) MC99 have interpreted the notions of “passenger,” “accident,” and “bodily injury” broadly, in a passenger-friendly way. Although the interpretation of ‘passenger’ does not differ from the established case law in other jurisdictions, some aspects of the interpretation of “accident” and the interpretation of “bodily injury” significantly depart from the view currently prevailing among courts internationally. The CJEU has yet to rule on the scope of the exclusivity of the MC99, under Art. 29 thereof, regarding personal injury of passengers. However, the expansive interpretations of “accident” and “bodily injury” by the CJEU limit the practical effect of Article 29 compared to other jurisdictions. Given the regulatory influence that the EU exercises worldwide, the CJEU judgments might guide courts also outside the EU. Although this would bolster passenger protection, it would exacerbate the already fragmented application of the MC99 internationally. [ABSTRACT FROM AUTHOR]

In the varying opinions on the legal groundwork and impact of aviation obligations, this paper review analyses the airline's responsibility and its part in ensuring the security of the passengers when they board the aircraft. In nations without any aviation regulations, the issue gets worse. In these situations, the obligation for instances of air terrorism is established with relevance to principles of general obligation. This is inconsistent, given the nature of air travel and the accidents that occur in this context. Why, if at all, is the air carrier responsible for the harm that terrorist attacks bring to the passengers? The article is to urge global legislators to relieve the airline of its responsibilities. [ABSTRACT FROM AUTHOR]

Cross-industry clusters are essential for the economic prosperity of a region. However, studies do not address competitive clusters among the airline and tourism industries. Thus, this paper considers the case of both industries in terms of the clusters and synergies formed. This research aim is to provide an understanding of both industries' protagonists' involvement in contributing to insights into the establishment of synergies or clusters among the two industries. Cyprus is highly dependent on tourism and airlines because they facilitate connectivity. The research comprises semi-structured interviews with the leading players and organizations of the airline and tourism industries (government bodies, airports, airlines, tour operators and hotels). The results indicate that in a small geographical context, the notion of clusters involves a synergetic relationship among tourism stakeholders. The airlines' role is essential and affects all stakeholders involved in tourism. Additionally, the research provides new insights into the role of Destination Management Organisations (DMOs) in providing applicable tourism policies that can positively impact effective cooperation among industry partners. [ABSTRACT FROM AUTHOR]

Purpose - Since airlines that employ their resources effectively will achieve operating profitability, air route resource allocation is significant for airlines. This study aims to investigate an appropriate model to reallocate resources into each air route of an airline company. Design/methodology/approach - This study proposes a network centralized data envelopment analysis (DEA) models with slack-based measure (SBM). The proposed model not only takes into account the two interconnected stages but also considers the nonradial approach with transfer-in and transfer-out slacks for resource reallocating. Furthermore, the authorsmodify the objective function to an input-oriented function with SBM, and divide the model into passenger and freight parts, which makes the model more realistic for the characteristic of air routes. Findings - The empirical analysis using an airline company's internal data provides airline operators with information on how they increase or decrease input resources, which can serve as a practical guideline of resource reallocation. Specifically, the results indicate that the airline company should increase their input resources into longhaul air routes such as KOR-OCN while decreasing their input resources into short-haul air routes such as Korean-Oceania (KOR-OCN), Korean-Chinese (KOR-CHN), Korean-SoutheastAsian (KOR-SEA), Korean-Japanese (KOR-JPN). Originality/value - Although some papers evaluate air route efficiencies based on the DEA approach, a few existing papers have addressed resource allocation for air routes. This paper is the first to study the resource reallocation for air routes based on the DEA approach, contributing to the literature in expanding the scope of research on resource reallocation. [ABSTRACT FROM AUTHOR]

The aircraft dispatcher is an indispensable member of United States airline operations. The airline industry advanced from early attempts to transport mail and occasional passengers on a scheduled basis into a highly complex, tightly regulated, extremely safe means of transportation. Dispatchers have a key role that has expanded over time both in its scope and in its authority. The concept of operational control began with the desire to improve safety and enhance situational awareness for air carriers. Beginning with the earliest references to dispatchers, this paper explores the history of dispatchers from 1929 to the 1970s, operational control in the United States, and associated safety improvements. Drawing from both primary sources in the form of original aviation trade journals, aircraft accident reports, and books reviewing airline history, this paper examines how the dispatch profession has evolved and significantly enhanced aviation safety. [ABSTRACT FROM AUTHOR]

To date, there has been limited research undertaken into firm value determinants in the air transport industry, one of the most essential sectors for global business. In view of this, in this study, we review and synthesise the literature that focuses on the value of firms in this sector and discuss conceptually and empirically the determinants influencing airlines' stock values. Our main objective is to widen our understanding of the current state of research on the firm value of air transport companies. Using the systematic literature review (SLR) approach, we classify 173 papers published from 1984 to 2021. We find considerable changes in academic interest in the topic over the time period analysed, especially as a consequence of crisis-induced market crashes. In addition, we classify the main research themes relating to airlines' market value, identify gaps, and introduce potential future research avenues in this area. Among the themes identified, the adjustment in the industry-level factors such as alliances, market structure and competition were the most common source of fluctuations in airlines' stock value. However, we find shifting to sustainability initiatives and its consequence for stakeholders' value as one of the most discussed topics in this context. The trend has gained attention since early 2020 due to the emergence of the Covid-19 pandemic as companies are looking for green and sustainable ways to protect the value in crisis time. Our findings assist transportation researchers and executives in addressing major value drivers of airline firms. [ABSTRACT FROM AUTHOR]

The number of COVID 19 infections worldwide by the end of September 2020 rose to more than 34 million cases. At the same time number of fatalities caused by the same virus exceeds one million. In the year 2020 about ten per cent drop of economic growth was experienced compared to the previous year due to COVID 19 crisis and with probably the biggest impact on tourism industry. The results of global tourist international arrivals in April, May and June 2020 with drop of 95-98 per cent are self-explanatory. Thus, stabile and continuing growth from the beginning of 21st century has been suddenly brutally interrupted returning the tourism industry on level of at least 30-40 years back, maybe even more. The consequences of COVID 19 on touristic results have been analysed in the paper. The analysis is based on four different geographical areas - global, European, Southeast European and Croatian, based on the last 20 years of tourism results. Since similar dramatic situation has also affected air transport industry, the correlation between the tourism and air carriers' results in the last two decades is also considered in this paper. Different scenarios of the future recovery of tourism industry are considered in the paper [ABSTRACT FROM AUTHOR]

Design/methodology/approach: This paper used pervious related to aviation literatures to summarise and viewpoint the current aviation environment and conduct the risks, value, and resilience of grounded aircraft-value in the post-pandemic era. Purpose: Throughout 2020 to date, this major event, known as SARS CoV-2, has had a decisive impact on global air transport. Since the outbreak began, passenger travel has declined due to infection risks and new laws and travel restrictions. Dependent Surveillance-Despite the recent recovery in demand from the airline industry, risks posed by new models remain a concern for many airlines. From the data of Broadcasting (ADS-B) is helpful for preliminary observation and judgment of the value level of a certain type of aircraft. Findings: This paper not only focuses on the aviation environment, but discusses aviation highlights such as international perspectives, domestic (i.e. Taiwan) perspectives, and several issues between industry and academic perspectives. Research limitations/implications: The next phase of research needed in this area is a closer assessment of the value of aircraft in the development of global networks, which could have important policy implications for aircraft manufacturers and the aviation industry. Originality/value: This paper provides a contemplative perspective about the aviation industry. [ABSTRACT FROM AUTHOR]

Based on the traditional TOPSIS method and 2-tuple linguistic Pythagorean fuzzy numbers (2TLPFNs), this paper builds a novel 2TLPF-TOPSIS method that combines cumulative prospect theory (CPT) to cope with the multiple attribute group decision-making (MAGDM). This new method takes into account the decision-makers' mind and the uncertainty of decision-making, and is more in line with the real decision-making environment. First, this paper briefly reviews some necessary theories related to PFS, as well as the calculation rules and comparison methods of 2TLPFNs. Then, since there is often subjective randomness when determining the weight, the entropy method is utilized to objectively determine the weight. After that, give the specific calculation steps of the new method. In order to show the effectiveness of the new method, apply it into a specific numerical example about evaluating airline business operations capability, and compare it with the other four different methods. The ranking results depict that the new method designed is effective and reasonable, and has good application value of MAGDM problems. [ABSTRACT FROM AUTHOR]

Globalisation and intense market competition have affected the business environment of the 21st century. The changes have mainly occurred at the customer level, where expectations in terms of service quality have increased, whilst customer loyalty has not reached the same level of expectation. This change has also been felt in the passenger air transport industry, with passenger airlines increasing their efforts to identify and implement new ways of improving the quality of services they provide to customers. However, air transport, be it cargo or passenger, faces considerable challenges arising from the increasingly dynamic and uncertain environment in which it operates. This paper is part of an empirical study aimed at developing a model for measuring and analysing the quality of air passenger services in order to improve the quality of customer service. This paper therefore aims to present some important aspects of the influence of quality on customer satisfaction in a major international airline. [ABSTRACT FROM AUTHOR]

Purpose: The study aims to examine the financial performance of air passenger carriers in the case of a developing country with transition economy like Bulgaria. It also examines both the main trends in the digital transformation processes of the aviation sector and the obstacles that hinder the widespread implementation of information and communication technologies in the sector. Methodology: Through regression modelling, it is identified which financial performance indicators most strongly influence the digital transformation process of air passenger carriers. Results: The results of the study show that Bulgarian aviation operators are not capable to cover their short-term liabilities and are strongly dependent on their creditors, especially in terms of exogenous shocks like COVID-19 pandemics, political crisis, ongoing military conflicts in Ukraine and uncertain business environment. The country ranks on last place according to the values of DESI index in comparison to EU average levels in terms of digital skills of transport workers, e-commerce, and deployment of ICT. Practical implications: The implications of the study could serve as basis for future research in the field of financial performance of other modes of transport or to be used for examining the air transport of countries with similar political and economic characteristics like Bulgaria. Paper type: Research paper. [ABSTRACT FROM AUTHOR]

According to Nobel Laureate Edmund Phelps (2013, p. 123), Mises's critique of economic calculation under socialism renders him the originator of the economic analysis of property rights. This paper also suggests that implicit to Mises's impossibility theorem was also the origins of the theory of transaction costs. This raises the following question: what is the relationship, if any, between the process of economic calculation and the concept of transaction costs? Filtered through a Misesian lens, we argue that transaction costs are the costs of engaging in economic calculation. We illustrate our theoretical point utilizing the case of airline oversales auction system first proposed by Julian Simon (1968). In doing so, we reframe the problem of airline oversales from a transaction‐cost approach, one in which property rights in airline seats are initially poorly defined. By doing so, we illustrate that resources expended to discover the valuable attributes of a good (in this case airline seats), the terms of exchange between potential trading partners, as well as enforcing the terms of an exchange, all of which are transaction costs, are also, by definition, the costs of calculating the exchange value of goods. Thus, the airlines oversales auction system is illustrative of an institutional solution to the problem of economic calculation via a reduction of transaction costs. [ABSTRACT FROM AUTHOR]

When measuring the electromagnetic parameters of flexible material with an air coaxial line, the specimen is prone to bend and deform in the fixture, which results in erroneous results. In order to solve this problem, this paper proposes a new measurement method. Firstly, a rigid material is selected and loaded into the air coaxial line for two-port S parameters measurement. Then, the flexible material is attached to one end of the rigid material and loaded into the air coaxial line together for repeated two-port S parameter measurement. According to the S parameters measured and the two-port network cascading theory, the S parameters of the flexible material separately loaded in the fixture can be deduced. Finally, the electromagnetic parameters of the flexible material can be calculated by the Nicolson−Ross−Weir (NRW) method. Experimental results show that the method proposed is effective and reliable. [ABSTRACT FROM AUTHOR]

Purpose: There is the propensity of airline catering supply chains to adapt their performance measures in order to meet desired service level due to the challenges of the COVID-19 pandemic. The aim of this paper is to develop a set of metrics for airline catering organisations and explore the choices of SCOR based performance metrics during the COVID-19 pandemic. Design/methodology/approach: Case study approach involving an airline catering supply chain organisation is adopted in this research. The SCOR framework is applied in the context of the case study supply chain to develop a performance metrics model for the chain. The performance metrics model is analysed and validated by a set of experts in the case study organisation. The experts are formed into a focus group. The performance metrics were prioritised using MoSCoW method based on the experience of the focus group participants on COVID-19 challenges. Findings: A hierarchical performance measure framework is proposed, and a set of 55 metrics from the SCOR framework is identified and validated for airline catering supply chains. MoSCoW based prioritisation of the metrics by the focus group participants results in 7 Level-1 SCOR metrics and 13 Levels 2 & 3 SCOR metrics been considered as necessary to better mitigate COVID-19 pandemic challenges. Research limitations/implications: This research is based on a single case study and a small number of participants, which limits the generalisability of the results. Practical implications: With the development of performance metrics and the prioritisation presented in this paper, airline catering organisations can monitor their catering logistics performance and use techniques such as MoSCoW to decide performance measures priorities in situations such as the COVID-19 pandemic. Originality/value: The work contributes to measuring performance in the airline catering supply chain and the need for considering adapting performance metrics using techniques such as MoSCoW, during challenging periods as in the COVID-19 pandemic. [ABSTRACT FROM AUTHOR]

Based on the case study of the Hamburg aviation cluster (HAv), this paper touches upon the nature of cluster processes in digital transformation (Industry 4.0). The discussion is carried out with reference to the concept of hubbing, while highlighting the difference between classic internationalization. The aim of the paper is to unearth the nature of the cluster's external expansion in the digitally reshaped era by investigating the case of an advanced aviation cluster officially branded as an Industry 4.0 cluster. [ABSTRACT FROM AUTHOR]

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Using data on the Japanese domestic market from 2008 to 2013, this paper investigates the market dynamics triggered by the 2010 bankruptcy protection of Japan Airlines (JAL). Our analysis suggests that JAL downsized its overall operations, leaving relatively thin routes even though there were fewer competitors and slightly higher yields in those thin markets. The airline nevertheless increased the yields and flight frequencies in the consolidated network more significantly than its rival airlines did. Following JAL's bankruptcy, Japanese carriers focused more on improving yield and frequency in general, and the competition between the duopoly airlines (JAL and All Nippon Airways (ANA)) became less effective. In comparison, low-cost carriers (LCCs) and smaller airlines continued to exert significant competitive pressure on the market despite their small market shares. These patterns are different from those observed in the US, where a huge domestic market is served by a large number of competitive airlines. Overall, our analysis suggests that the Japanese government's support of JAL's restructuring efforts was appropriate. However, there is evidence that the JAL-ANA duopoly became less effective in maintaining market competition. The Japanese government should more actively explore ways to provide a level playground to LCCs and smaller airlines so that enhanced competition can promote airline efficiency and services in the long term. • This paper investigates the market dynamics triggered by the 2010 bankruptcy protection of Japan Airlines. • JAL downsized its overall operations, but managed to increase the yields and flight frequencies in the consolidated network. • Following JAL's bankruptcy, the competition between the duopoly airlines (JAL and All Nippon Airways) became less effective. • Low-cost carriers and smaller airlines continued to exert significant competitive pressure on the market despite their small market shares. • The Japanese government should explore ways to enhance competition and promote airline efficiency and services. [ABSTRACT FROM AUTHOR]

Airfares are affected by a variety of factors, but it is less clear which factors are the key determinants and how they interact. Based on a unique transaction level data set, this paper introduces a widely used, machine learning based pricing tool to investigate the airline market segmentation and dynamic price discrimination problems. The empirical results suggest that purchasing time, city distance, market structure, market size, and seat availability are the five most important pricing factors in order. Airlines first partition their markets into an early market and a late market, and split the market further by city distance and other factors. While intertemporal price discrimination explains the majority of fare variations, there are strong indications that airlines use their market power in the late market and charge higher fares on late-arriving consumers (but not on early consumers), in response to extra seats sold. [ABSTRACT FROM AUTHOR]

Air carriers shall not readily relinquish their held flight slots. In cases where the historical flight slot pool cannot be easily altered, a pressing need arises for an allocation method that can efficiently utilize the incremental resources of these time slots. This paper presents an integer planning model to address the efficient allocation of incremental airport time slot resources. The model considers the capacity of key resource nodes and flight waveforms as constraints to maximize the total incremental slots. Moreover, it considers the adaptation of strategic and tactical optimization. After conducting a case study using Beijing Capital International Airport for verification, the proposed model effectively reduces potential operational delays by 66.27% while adding 366 to 397-time slots. Notably, the model demonstrates remarkable delay reduction capabilities and can serve as a valuable decision-support tool for the incremental allocation of time slots. [ABSTRACT FROM AUTHOR]

This paper applies a two-tier model based on fuel hedging (model 1) and the testing of the impact of commodity risk on airline capacity forecasting, which is based on a system dynamics framework (model 2). Model 1 provides a comprehensive examination of the worldwide airline industry, including an analysis of the statistical impact of oil price fluctuations on the sector and the corresponding hedging strategies employed by airlines. This study examines a sample of North American and European airlines over a 10-year timeframe to assess the degree to which these airlines have engaged in kerosene hedging for future periods and the potential impact of such hedging on their corporate value and performance. In model 2, the author integrates a capacity-forecasting model within the system dynamics framework, drawing upon the theory of capacity forecasting. The study examines the impact of commodity risk by analysing the influence of fluctuations in the jet fuel spot price on the average airfare and its subsequent effects on other interdependent capacity variables. The hypotheses presented in this study were formulated based on a comprehensive review of the relevant literature and a causal feedback loop diagram. The diagram effectively depicts the dynamic interrelationships between capacity forecasting and risk variables. Furthermore, the diagram capturing causal feedback loops was transformed into a stock-flow diagram. This diagram was then utilised to evaluate the hypotheses that were derived using a dataset that pertains to the domestic airline market in the United States. The verification of the qualitative and quantitative models demonstrates the proven impact of commodity risk on capacity forecasting. [ABSTRACT FROM AUTHOR]

From the start, the airline industry has remarkably connected countries all over the world through rapid long-distance transportation, helping people overcome geographic barriers. Consequently, this has ushered in substantial economic growth, both nationally and internationally. The airline industry produces vast amounts of data, capturing a diverse set of information about their operations, including data related to passengers, freight, flights, and much more. Analyzing air travel data can advance the understanding of airline market dynamics, allowing companies to provide customized, efficient, and safe transportation services. Due to big data challenges in such a complex environment, the benefits of drawing insights from the air travel data in the airline industry have not yet been fully explored. This article aims to survey various components and corresponding proposed data analysis methodologies that have been identified as essential to the inner workings of the airline industry. We introduce existing data sources commonly used in the papers surveyed and summarize their availability. Finally, we discuss several potential research directions to better harness airline data in the future.We anticipate this study to be used as a comprehensive reference for both members of the airline industry and academic scholars with an interest in airline research. [ABSTRACT FROM AUTHOR]

Disruption is a serious and common problem for the airline industry. High utilisation of aircraft and airport resources mean that disruptive events can have large knock-on effects for the rest of the schedule. The airline must rearrange their schedule to reduce the impact. The focus in this paper is on the Aircraft Recovery Problem. The complexity and uncertainty involved in the industry makes this a difficult problem to solve. Many deterministic modelling approaches have been proposed, but these struggle to handle the inherent variability in the problem. This paper proposes a multi-fidelity modelling framework, enabling uncertain elements of the environment to be included within the decision making process. We combine a deterministic integer program to find initial solutions and a novel simulation optimisation procedure to improve these solutions. This allows the solutions to be evaluated whilst accounting for the uncertainty of the problem. The empirical evaluation suggests that the combination consistently finds good rescheduling options. [ABSTRACT FROM AUTHOR]

The COVID-19 outbreak dealt a severe blow to the global economy, especially to the airline industry, due to worldwide lockdown measures implemented by the authorities. This paper aims to investigate the impact of the COVID-19 pandemic on the airline stock performance of seven markets in Asia and three other markets in Australia, Germany and the United States. The data is collected from 42 airline firms from 2019 to 2020. The research outcomes indicate that: (a) COVID-19 only temporarily impacts stock returns; (b) Market values plunge immediately after the first confirmed case, and it still shows no evidence of returning to the price levels before the outbreak; (c) COVID-19 has a significant impact on stock volatility; (d) Most stocks do not illustrate any higher exposure to systematic risks. [ABSTRACT FROM AUTHOR]

Vertical navigation is crucial for safe aircraft separation and has been traditionally based on the pressure altitude provided by barometric altimeters. New aviation operations require robust determination of geodetic altitude and are expected to primarily rely on a global navigation satellite system (GNSS). Because deviations between pressure and geodetic altitudes can reach hundreds of meters, an altitude harmonization is needed to use barometers in combination with GNSS. In this paper, we first present a methodology to compute an accurate geodetic altitude from barometer and external weather data. Secondly, we derive error and threat models of this geodetic altitude. Finally, we employ these models within a GNSS integrity monitoring algorithm augmented with the derived altitude. We assess our methodologies against flight test measurements and availability simulations of localizer performance with vertical guidance operations. These analyses illustrate the potential benefits of employing barometers as augmentation or stand-alone systems for geodetic altitude navigation. [ABSTRACT FROM AUTHOR]

The significance of this study is derived from instability situations faced by various markets, particularly in the transport and logistics sectors, and the necessity to ascertain methods for their future advancement. The aim of this paper is to determine transformative modifications in the fundamental principles of strategic management for companies engaged in transport and logistics markets. In the course of the research, various methods were employed, including generalization, system analysis, abstract-logical method, systemic approach, analysis and synthesis method, graphical method, induction, deduction, comparison and systematization method, expert analysis, and selective observations. As a result, the authors identified the prerequisites for the transformation of unique and oversized air carriers into 3PL (Third-Party Logistics) operators, which are divided into the following blocks: needs, threats and risks, and product uniqueness. [ABSTRACT FROM AUTHOR]

This paper proposes a solution to a certain macroeconomic model. A multi-alternative problem of aviation transportation optimal organisation in conditions of uncertainty of the subjective preference functions is considered. Conditional optimisation of the objective functional containing the entropy of the individuals' operational effectiveness functions preferences is carried out in the framework of the simplest macroeconomic problem. The principle of the Solow and Cobb–Douglas models, likewise for economic growth, is modified with the Subjective Entropy Maximum Principle. The advantages of the described optimisation approach are demonstrated in generalised terms of the operational effectiveness functions for aviation transportation organisation. [ABSTRACT FROM AUTHOR]