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Algorithmic optimization of the calculation with the consideration of the interconnection of the basic economic parameters of the flight route of the model air carrier

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Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
The load factor is the determining factor for airlines in economic terms and the prediction of the future development of the flight route. The combination of load factor and break-even point provides the airline with a comprehensive picture of the business of the flight route and the optimization of pricing for the flight route. The purpose of the article is to propose and adapt the development of air transport prices on a given line using maximally recalculated values and maximize profit. The optimized calculation algorithm then facilitates the understanding of the individual steps of the load factor calculation and the monitoring of price development by means of the chi-square mathematical method by which we observed the interconnection of the ticket price and the load factor. To describe the problem, we chose the Bratislava – Larnaca route.
Słowa kluczowe
Wydawca
Rocznik
Tom
Strony
34--39
Opis fizyczny
Bibliogr. 26 poz., rys., tab.
Twórcy
  • Technical University of Kosice Faculty of Aeronautics Department of Air Transport Management Rampova 7, 041 21 Kosice, Slovak Republic
  • Technical University of Kosice Faculty of Aeronautics Department of Air Transport Management Rampova 7, 041 21 Kosice, Slovak Republic
  • Technical University of Kosice Faculty of Aeronautics Department of Air Transport Management Rampova 7, 041 21 Kosice, Slovak Republic
  • Technical University of Kosice Faculty of Aeronautics Department of Air Transport Management Rampova 7, 041 21 Kosice, Slovak Republic
autor
  • Technical University of Kosice Faculty of Aeronautics Department of Air Transport Management Rampova 7, 041 21 Kosice, Slovak Republic
Bibliografia
  • [1] B. H. Baltagi, J. M. Griffin, D. P. Rich, „Airline Deregulation: The Cost Pieces of the Puzzle, “International Economic Review, Vol. 36, No. 1 (Feb., 1995), pp. 245-258 DOI: 10.2307/2527435.
  • [2] P. Belobaba, L. R. Weatherford, „Comparing Decision Rules that Incorporate Customer Diversion in Perishable Asset Revenue Management Situations,“ Decision Sciences Journal, Vol. 27, Issue2, 1996, pp. 343-363, DOI https://doi.org/10.1111/j.1540-5915.1996.tb00856.x.
  • [3] S. Borenstein, „Airline Mergers, Airport Dominance, and Market Power,“ American Economic Review, 1990, vol. 80, issue 2, pp. 400-404.
  • [4] W. G Brunger, „The impact of the Internet on airline fares: The ‘Internet Price Effect’,“ Journal of Revenue and Pricing Management, Vol. 9, Issue 1-2, 2010, pp. 66-93, DOI https://doi.org/10.1057/rpm.2009.35.
  • [5] R. Doganis, „Flying Off Course IV: Airline Economics and Marketing“, 4th edition, 2010, Taylor&Francis e-library.
  • [6] Ľ. Fedorco, J. Hospodka, „Airline pricing strategies in european airline market,“ Perner´s Contacts, Vol. VIII, No 2, 2013.
  • [7] T. Fiig, K. Isler, C. Hopperstad, P. Belobaba, „Optimization of mixed fare structures: Theory and applications,” Journal of Revenue and Pricing Management, Vol. 9, Issue 1-2, 2010, pp. 152-170, DOI https://doi.org/10.1057/rpm.2009.18.
  • [8] D. R. Graham, D. P. Kaplan, D. S. Sibley, „Efficiency and Competition in the Airline Industry,“ The Bell Journal of Economics, Vol. 14, No. 1 (Spring, 1983), pp. 118-138 DOI: 10.2307/3003541.
  • [9] Z. Guo et al., „Research on dynamic pricing model of electronic airplane ticket in electronic commerce,“ Control and Decision Conference – CCDC 2009, Chinese, 2009.
  • [10] P. Hanák, et al., “The analysis of the price trend of low-cost carriers in Slovakia,” Transport means 2018. Part I, 2018, pp. 347-350.
  • [11] K. Isler, E. D'Souza, „GDS capabilities, OD control and dynamic pricing,” Journal of Revenue and Pricing Management, Vol. 8, Issue 2-3, 2009, pp. 255-266, DOI https://doi.org/10.1057/rpm.2008.57.
  • [12] N.A. Ismail, H. S. Jenatabadi, „Determination of Load Factors in the Airline Industry“, Fifth International Business Research Conference, Strands of Development, 2007, Dubai, United Arab Emirates.
  • [13] M. Kelemen, et al., “Pricing Policy Aspects in Competitive Fight Between Low-Cost Airlines on Kosice Airport,” Journal of KONBiN: The Journal of Air Force Institute of Technology, Vol. 49, 2019, Issue 1, pp. 331-342.
  • [14] D. J. Lloyd-Jones, „Deregulation and Its Potential Effect on Airline Operations,“ Journal of Air Law and Commerce, Vol. 41, 1975, Issue 4, [Online]. Available on: ttps://scholar.smu.edu/jalc/vol41/iss4/13.
  • [15] M. Mačej, “Lowering the costs by applying optimised Cost Index,” Transport Means, 2018. Part 3, 2018, pp. 1379- 1382.
  • [16] S. Poelt, „Practical Pricing and the Airline Industry” Revenue Management, 2011, DOI https://doi.org/10.1057/9780230294776_15.
  • [17] S. L. Puller, A. Sengupta, S. N. Wiggins, „Testing Theories of Scarcity Pricing in the Airline Industry,“ National Bureau of Economic Research, 2009 DOI: 10.3386/w15555 https://www.nber.org/papers/w15555.pdf.
  • [18] A.M. Selcuk, Z.M. Avsar, „Dynamic pricing in airline revenue management,“ Journal of mathematical analysis and applications, Vol. 478, 2019, Issue: 2, pp. 1191-1217, DOI: 10.1016/j.jmaa.2019.06.012.
  • [19] M. Sumida, H. Topaloglu, „Approximation Algorithm for Capacity Allocation Over a Single Flight Leg with Fare-Locking,“ Informs journal on computing, Vol. 31, 2019, Issue: 1, pp. 83-99, DOI: 10.1287/ijoc.2018.0816.
  • [20] S. Szabo, et al., “Optimization of the parameters of aircraft ground handling by cost function” CEFE2017, 2017 pp. 733-739.
  • [21] B. Vinod, „The complexities and challenges of the airline fare management process and alignment with revenue management,” Journal of Revenue and Pricing Management, Vol. 9, Issue 1-2, 2010, pp. 137-151, DOI https://doi.org/10.1057/rpm.2008.43.
  • [22] D. Walczak, E. A. Boyd, R. Cramer, „Revenue Management,“ Quantitative Problem Solving Methods in the Airline Industry, pp. 101-161 DOI https://doi.org/10.1007/978-1-4614-1608-1_3.
  • [23] D. Walczak, S. Brumelle „Semi-Markov information model for revenue management and dynamic pricing,” OR Spectrum, Vol. 29, Issue 1, 2007, pp. 61-83, DOI https://doi.org/10.1007/s00291-005-0026-z.
  • [24] D. Walczak, S. Mardan, R. Kallesen „Customer choice, fare adjustments and the marginal expected revenue data transformation: A note on using old yield management techniques in the brave new world of pricing,” Journal of Revenue and Pricing Management, Vol. 9, Issue 1-2, 2010, pp. 94-109 DOI https://doi.org/10.1057/rpm.2009.38.
  • [25] J.G. Wensveen, A.T. Wells, „Air Transportation: A Management Perspective“, 6th edition, 2007, Ashgate Publishing Company.
  • [26] M.D. Wittman, P.P. Belobaba, P.P., „Dynamic pricing mechanisms for the airline industry: a definitional framework,“ Journal of Revenue and Pricing Management, Vol. 18, 2019, Issue 2, pp. 100-106 DOI: https://doi.org/10.1057/s41272-018-00162-6.
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-0312bc50-9a18-48ea-b584-dea2dc84f68e
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