Aircraft replacement strategy: Model and analysis

Aircraft replacement strategy: Model and analysis

Journal: Air Transport Management

Author: Massoud Bazargan, Joseph Hartman

Published: 2012

Abstract

This study presents a model to help airlines plan their strategic fleet acquisitions and disposals. It minimizes the discounted costs of owning or leasing and operating a fleet by identifying which aircraft to buy, sell and lease over the planning horizon. The paper explains how the related cost data were compiled and analyzed. The model is applied to two US airlines with different business models and shows that aircraft leasing is generally the preferred alternative with benefits from having newer aircraft and less fleet diversity.

Keywords: Aircraft acquisition, Aircraft replacement, Aircraft purchasing, Aircraft leasing

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