Airline Finance [Hardcover]

Peter S. Morrell (Author)

Book Description

Publication Date: May 21, 2007 | ISBN-10: 0754670007 | ISBN-13: 978-0754670001 | Edition: 3

Air transport industry finance, with its complexity and special needs such as route rights, airport slots, aircraft leasing options and frequent flyer programmes, requires specific knowledge. While there are numerous financial management and corporate finance texts available, few of these provide explanations for the singularities of the airline industry with worked examples drawn directly from the industry itself. Revised and updated in its third edition, this internationally renowned and respected book provides the essentials to understanding all areas of airline finance. Designed to address each of the distinct areas of financial management in an air transport industry context, it also shows how these fit together, while each chapter and topic provides a detailed resource which can be also consulted separately. Supported at each stage by practical airline examples, it examines the financial trends and prospects for the airline industry as a whole, contrasting the developments for the major regions and airlines. Important techniques in financial analysis are applied to the airline industry, together with critical discussion of key issues. Thoroughly amended and updated throughout, the third edition reflects the many developments that have affected the industry since 2001. It features several important new topics, including Low Cost Carriers (LCCs), fuel hedging and US Chapter 11 provisions. The sections on airline revenues, costs and beta values have been expanded. New case studies have been added, as well as the latest available financial data. The range and perspective is even greater than before, with significant expansion of material specific to the US and Asia. The book is a key resource for students of airline management, and a sophisticated and authoritative guide for analysts in financial institutions and consultancies, executives in airlines and related industries, and civil aviation departments.

Editorial Reviews

About the Author

Dr Peter S. Morrell is Director of Research in the Department of Air Transport, College of Aeronautics, Cranfield University, UK. He is currently European Editor of the Journal of Air Transport Management, and has a doctorate from Cranfield University and graduate degrees from the University of Cambridge, UK and Massachusetts Institute of Technology, USA. He has advised governments, airlines, airports and investment banks on aviation over the past 35 years. He has also lectured on airline economics and finance to universities and institutions around the world including Embry-Riddle Aeronautical University in the US, Instituto Aviacao Civil, Brazil, Ecole National de L'Aviation Civile (ENAC), France, the Universities of Westminster and Loughborough in the UK, Danube University, Austria, Chang Jung University, Taiwan, University of New South Wales, and is currently visiting lecturer to the Polytechnic University in Hong Kong.

Product Details

• Hardcover: 259 pages
• Publisher: Ashgate Pub Co; 3 edition (May 21, 2007)
• Language: English
• ISBN-10: 0754670007
• ISBN-13: 978-0754670001
• Product Dimensions: 9.2 x 6.4 x 1 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 2.8 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #1,976,903 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

13 of 15 people found the following review helpful:

2.0 out of 5 stars A great outline for a book yet to be written, August 23, 1998

By A Customer

This review is from: Airline Finance (Hardcover)

This book concentrates too much on accounting at the expense of economics. It also gives short shrift to some of the most important concepts in airline finance today, including EETCs (enhanced equipment trust certificates). It's not bad when it comes to discussing the difference in national accounting systems, but a better source for that is Airline Business magazine's study "Mind the GAAP". Morrell's book is pretty rudimentary when it considers things like buy vs leases analyses.

Airline finance can get reasonably involved, with all sorts of tax issues. This book barely scrapes the surface of the topic. Morrell is clearly not a practioner.

2 of 2 people found the following review helpful:

3.0 out of 5 stars A bit basic, October 12, 2010

By 

Goldfire - See all my reviews

Amazon Verified Purchase

This review is from: Airline Finance (Hardcover)

I would have expected a bit more from a book called "airline finance" - while there is a lot of breadth, the author rarely goes into detail on any one topic - like others have said, this book is more of an "outline" than a reference text. Also, the material is dated - given the recent movements in the airline industry, it would have been interesting to see a little bit more on acquisition finance, network synergies, etc. Obviously the author has no control over this...

Not sure if the books worth the money if you're looking for a detailed in depth guide but you will become familiar with industry terms and get an overall sense of how airline finance might work.

1 of 1 people found the following review helpful:

3.0 out of 5 stars Time flies too fast, September 15, 2008

By 

Santrucek Bohuslav "Bohuslav" (Prague, Czech Republic) - See all my reviews
(REAL NAME)   

This review is from: Airline Finance, 3rd edition (Paperback)

Basically the Book is good in terminology, genearal formula and methodology etc. The problems are (obviously) actual data. Major of them are coming from years 2003 - 2005. Can they be compared with those today (especially fuel) ? But different cost results completely changed the industry (just from the last week monitoring : XL, Alitalia . . . . , SAS, ... Brussels airlines). I do not wish to blame the author, just to recall everybody how fast time flies .... and how difficult is to be "in" with updated (completed) data in airline business. Solution can be online, elearning etc. Is Amazon thinking about such solution ? With kind regards Bohuslav