Aircraft replacement scheduling: A dynamic programming approach
AbstractThis study developed a stochastic dynamic programming model to optimize airline decisions regarding purchasing, leasing, or disposing of aircraft over time. Grey topological models with Markov-chain were employed to forecast passenger traffic and capture the randomness of the demand. The results show that severe demand fluctuations would drive the airline to lease rather than to purchase its aircrafts. This would allow greater flexibility in fleet management and allows for matching short-term variations in the demand. The results of this study provide a useful reference for airlines in their replacement decision-making procedure by taking into consideration the fluctuations in the market demand and the status of the aircraft.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Transportation Research Part E: Logistics and Transportation Review.
Volume (Year): 47 (2011)
Issue (Month): 1 (January)
Contact details of provider:
Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/600244/description#description
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Bazargan, Massoud & Hartman, Joseph, 2012. "Aircraft replacement strategy: Model and analysis," Journal of Air Transport Management, Elsevier, vol. 25(C), pages 26-29.
- Rosskopf, Michael & Lehner, Stephan & Gollnick, Volker, 2014. "Economicâ€“environmental trade-offs in long-term airline fleet planning," Journal of Air Transport Management, Elsevier, vol. 34(C), pages 109-115.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.