2nd Edition

Aviation Investment
Economic Appraisal for Airports, Air Traffic Management, Airlines and Aeronautics



  • Available for pre-order. Item will ship after December 26, 2020
ISBN 9781138036635
December 26, 2020 Forthcoming by Routledge
304 Pages

USD $160.00

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Book Description

Aviation Investment uniquely addresses investment appraisal methods across the key industries that make up the aviation sector, including the airports, air traffic management, airline and aircraft manufacturing - or aeronautic - industries. This practice-oriented book presents methods through realistic case studies. It covers both economic appraisal, or cost-benefit analysis, measuring the value of projects to society, and financial appraisal, valuing projects as cash generators.

This substantially expanded second edition covers in greater detail the treatment of environmental emissions, paying particular attention to climate change. It addresses the treatment of Market-Based Mechanisms (MBMs), including cap and trade systems like ETS and offset systems like CORSIA, and compares them to environmental taxes. It also addresses the adjustments needed to measure the foreign exchange generating value of projects, relevant in the presence of trade barriers. The new edition includes two new project types. One is airport relocations, perhaps the most complex type of airport projects, where the economic case is often more nuanced than may be apparent. The second is the re-introduction of supersonic travel.

Aviation Investment offers all aviation sub-sectors a single-source reference, bringing together the theoretical background of the economic appraisal literature and aviation investment in practice. It is written in a style that is accessible to non-academic professionals, using formulae only where strictly necessary to enable practical applications, and benefits from the substantial practical experience of the author.

Table of Contents

Chapter 1. Introduction

Chapter 2. Identifying Benefits

Chapter 3. The Basic Framework

Chapter 4. Airports

Chapter 5. Air Traffic Management

Chapter 6. Airlines

Chapter 7. Aeronautics

Chapter 8. Concluding Remarks

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Author(s)

Biography

Doramas Jorge-Calderón is a Senior Economist at the European Investment Bank (EIB), the project financing bank of the European Union, based in Luxembourg. He has been appraising investments for 15 years, many of which in the aviation sector, across Europe, Africa and Asia-Pacific. Prior to his position at the EIB he worked on economic regulation and competition policy with consultants National Economic Research Associates (NERA) in London. He holds a doctorate in transport economics from Leeds University, and has written a number of papers for academic and practitioner publications on investment appraisal, demand analysis and industrial organisation in the aviation sector.

Reviews

’There are many manuals and cookbooks for the evaluation of investments but surprisingly not one focusing on Aviation. Doramas Jorge-Calderón has made an impressive attempt to fill this gap. The book will be the natural reference guide for those evaluating aviation investments. In addition, the book will be useful for those teaching courses in applied welfare economics at universities and business schools.' Per-Olov Johansson, Stockholm School of Economics, Sweden ’This is an excellent book on aviation investment. The book is soundly and clearly written by an author with a thorough theoretical background and deep knowledge of the aviation industry. I have learned and enjoyed reading this book and highly recommend it to anyone interested in the aviation industry or in investment evaluation.’ Ginés de Rus, University of Las Palmas de Gran Canaria and University Carlos III de Madrid, Spain