Most international airlines hedge fuel costs, but the theoretical justification behind this action is weak. The paper explores the nature and extent of airline fuel hedging and asks why airlines hedge. The availability of hedging instruments is first discussed, with the most liquid markets in...

This thesis is submitted in partial fulfilment of the requirements for the degree of Master of Science. The thesis sets out the results of a structured programme of research or design, development or management studies demonstrating the candidate's own ability to conduct original investigations,...

Access to efficient and affordable air transport services is indispensable to economic communities made up of dispersed islands. It is often claimed that the contribution of the sector would be greatly debilitated however without the presence of national or regional flag carriers. A...

Access to efficient and affordable air transport services is indispensable to economic communities made up of dispersed islands. It is often claimed that the contribution of the sector would be greatly debilitated however without the presence of national or regional flag carriers. A...

This paper explores the state of practice regarding aircraft financial evaluation. Traditional measures of aircraft economic viability, including Direct Operating Cost (DOC) comparison, ignore both the non-cash elements of costs, and the time value of money. Practitioners adopting more advanced...

This research sets out to determine whether there is a best way to performaircraft investment analysis. The question of best practice is found to belinked to corporate ownership: world airline shareholding patterns areidentified and linked to investment analysis practices, and to airline...