Air Transport Economics

The course covers topics such as:

• growth drivers
• pricing
• elasticity
• revenue management
• the economics of slots.

Other subjects include how investors regard airlines, the impact of regulation on consolidation, how cost allocation works in the airline industry and whether airlines should undertake fuel and currency hedging.

Due to changing economic conditions and the dynamic characteristics of the industry, the course is very topical and interactive.

Who is it for?

The course provides an explanation of the economic factors in the industry and would benefit students wanting to enter management roles.

Timetable

Teaching usually begins at 9am and finishes at 5pm each day, with time for breaks. If there is any change to these timings, you will be informed before the start of the module.

On successful completion of this course, you will be expected to be able to:

• Critically analyse economic principles in areas such as demand and supply,
  pricing, and elasticities
• Critically analyse economic principles to problems and how they apply to different airline business models
• Analyse the current political and economic issues facing airline managers.

You will be asked to submit a reflective journal following completion of the module to illustrate your learning. You will not receive a mark for the reflective journal.

Following successful completion of the module, you will receive a certificate of participation.

This course is provided by the School of Science & Technology.

There is no prior knowledge required for this CPD module, other than a general awareness of the aviation industry practices. There is a pre-reading resource list that will help you prepare for the course.

Applicants are expected to have professional experience within the aviation industry.

English requirements

For those students whose first language is not English the following qualification is also required:

• IELTS: 6.5
• (A minimum of 6.0 in all four test components is preferable).

• Introduction to Air Transport Economics; Vasigh, Bijan; Ashgate ISBN-13: 978-0754670810
• Air Transport Management, An International Perspective, Lucy Budd and Stephon Ison, Routledge ISBN 978-1-4724-5106-4
• Driving Airlines Business Strategies through emerging technology   N.K. Taneja   Ashgate  ISBN 0-7546 1971 0 345
• Evolution of International Aviation, Rhoades, ISBN 0-7546-3785-9

It would be advantageous if students could also look at company presentations given on the investor relations websites of airlines such as easyJet, IAG, Lufthansa and Ryanair.