Is this project an undergraduate, graduate, or faculty project?
Graduate
group
What campus are you from?
Daytona Beach
Authors' Class Standing
Cheng-Chien Shih, Graduate Student Portia Ani, Graduate Student Cheng-Wei (Roy) Wu, Graduate Student Sheeba Grace Ratnakumar Rheuban, Graduate Student Rashid Samuels, Graduate Student
Lead Presenter's Name
Cheng-Chien Shih
Faculty Mentor Name
Dr. Sohel M. Imroz
Abstract
Purchasing aircraft is one of the most critical actions in the functioning of airline companies. The emergence of more interconnected global economies and the expansion of international business operations have led to a steady increase in travel demand after the COVID-19 pandemic. Each aircraft purchase includes a sizable amount of money and consideration. With a clear plan, airline businesses can buy the ideal range of aircrafts for their size and operating requirements. However, if companies buy their fleet without a solid strategy, these expensive aircrafts will become a financial burden to the firms. In this paper, we compare Boeing and Airbus's aircraft capabilities, technical support, and maintenance costs over the aircraft's service life. Subsequently, we discuss the significant elements influencing airline firms' purchasing practices. We conclude by projecting the global fleet market for the next 30 years and the factors that airlines should consider most when buying aircrafts. This paper can assist airlines and aircraft manufacturers in making effective decisions regarding their purchasing policies.
Did this research project receive funding support from the Office of Undergraduate Research.
No
Factors affecting airliners' decision of purchasing airplanes
Purchasing aircraft is one of the most critical actions in the functioning of airline companies. The emergence of more interconnected global economies and the expansion of international business operations have led to a steady increase in travel demand after the COVID-19 pandemic. Each aircraft purchase includes a sizable amount of money and consideration. With a clear plan, airline businesses can buy the ideal range of aircrafts for their size and operating requirements. However, if companies buy their fleet without a solid strategy, these expensive aircrafts will become a financial burden to the firms. In this paper, we compare Boeing and Airbus's aircraft capabilities, technical support, and maintenance costs over the aircraft's service life. Subsequently, we discuss the significant elements influencing airline firms' purchasing practices. We conclude by projecting the global fleet market for the next 30 years and the factors that airlines should consider most when buying aircrafts. This paper can assist airlines and aircraft manufacturers in making effective decisions regarding their purchasing policies.