This course is a “Core course” that is part of the Graduate Certificate in Aviation. This course in Advanced Aviation Economics is specifically created for aviation industry professionals to further develop their analytical and critical thinking skills to apply fundamental concepts of economics to the global airline industry, with a particular emphasis on the Asia-Pacific Region.
Who Should Attend?
- Airline and airport professionals
- Aircraft management professionals
- Aviation banking & finance professionals
- Students interested in Aviation Management
Starting From: Sep 3, 2022
Fee: S$750/- (Singapore dollar)
1. Payment by Credit Card: The fees can be paid online directly to Embry-Riddle Aeronautical University by using a Visa or Master card. The payment portal address is https://bit.ly/2EY8HWU (The fee would be paid in Singapore$ as stated on the portal), Refer www.xe.com to convert the stated Singapore (SGD) to any other currency.
2. Payment in Pak Rupees – Bank Deposit/Transfer Online.
Aviation Institute of Management is the regional organizing and facilitating entity for Embry-Riddle Aeronautical University. Aviation Institute of Management is an Educational Partner of Embry-Riddle Aeronautical University: https://asia.erau.edu/pro-ed.
Please deposit directly to the Aviation Institute of Management account at the stated bank below:
Aviation Institute of Management (Pvt) Ltd
Bank AL Habib
IBAN: PK41 BAHL 1058 0981 0133 9450
Upon completion of this course, students should understand the nature of air transportation demand and airline supply, the economic foundation for airline pricing and the complex methodology for managing passenger and freight fares, airline costs and methods of control, and fleet management. Economic theory will be applied to current and future predicted challenges in aviation within the context of Asia. Upon successful completion of this course, participants will be able to:
- Describe the role of economic analysis and its application within strategic and tactical management of the global airline industry.
- Assess the potential for regional air transportation growth given the nature of air travel demand including the application of factors that drive demand.
- Describe airline cost structure, the nature of fixed, variable, and controllable costs, and methods of control employed by network and low-fare carriers, and demonstrate the application of airline costs to fleet selection.
- Explain the major segments of passenger and cargo demand classify by price elasticity of demand.
- Contrast the various product and route structure alternatives, including the costs and benefits of each, and means for achieving product differentiation, and describe and give examples of various passenger and cargo business models.
- Compare and contrast competing airline products and assess the potential for meeting targeted customer segments and profitability.
- Describe the economic market types and contrast the pricing and output decisions of firms.
- Explain the theory of price discrimination and its application to revenue management in the airline and other industries.
- Discuss the regulatory history of international air transportation and the evolution toward liberalization and competitive markets, and assess the effects of liberalization on air transport growth, product development, and pricing.
- Compare and contrast the economics of the global air cargo market with passenger service.