Optimization, Types of Control, and Overbooking

Curt Cramer () and Andreas Thams ()
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Andreas Thams: University of Applied Sciences Worms

Chapter 4 in Airline Revenue Management, 2021, pp 39-52 from Springer

Abstract: Abstract As illustrated in Fig. 2.1 , the optimization step takes place, after the forecasting has been done. It uses the corresponding results from forecasting to maximize the expected revenue of a flight. Throughout this chapter, we will discuss the most relevant concepts of optimization in revenue management. This will finally allow us to understand the process flow of a standard revenue management system, as outlined in Chap. 2 , Sect. 2.1 , in all details. Furthermore, we will give a comprehensive introduction to overbooking approaches and their practical relevance. The chapter starts with an introduction, on how capacity is generally allocated and controlled in airline revenue management.

Date: 2021
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DOI: 10.1007/978-3-658-33721-6_4

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