A scenario aggregation based approach for determining a robust airline fleet composition

Ovidiu Listes and Rommert Dekker

No EI 2002-17, Econometric Institute Research Papers from Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute

Abstract: Strategic airline fleet planning is one of the major issues addressed through newly initiated decision support systems, designed to assist airlines and aircraft manufacturers in assessing the benefits of the emerging concept of dynamic capacity allocation. We present background research connected with such a system, which aims to explicitly account for the stochastic nature of passenger demand in supporting decisions related to the fleet composition problem. We address this problem through a scenario aggregation based approach and present results on representative case studies based on realistic data. Our investigations establish clear benefits of a stochastic approach as compared with deterministic formulations, as well as its implementation feasibility using state-of-the-art optimization software.

Keywords: Airline fleet composition; Dynamic capacity allocation; Fleet assignment; Scenario aggregation; Stochastic programming (search for similar items in EconPapers)
Date: 2002-05-13
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Citations: View citations in EconPapers (5)

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