Fiscal Aspects of Aviation Management / Edition 3

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Although introductions to courses in finance exist for a variety of fields, Robert W. Kaps provides the first text to address the subject from an aviation viewpoint. Relying on his vast experience—twenty-plus years in the airline industry and more than thirty years in aviation—Kaps seeks not only to prepare students for careers in the aviation field but also to evoke in these students an excitement about the business. Specifically, he shows students how airlines, airports, and aviation are financed. Each chapter contains examples and illustrations and ends with suggested readings and references.


Following his discussion of financial management and accounting procedures, Kaps turns to financial management and sources of financial information. Here he discusses types of business organizations, corporate goals, business ethics, maximizing share price, and sources of financial information.


Kaps also covers debt markets, financial statements, air transport sector revenue generation, and air transport operating cost management, including cost administration and labor costs, fuel, and landing fees and rentals. He describes in depth air transport yield management systems and airport financing, including revenues, ownership, operations, revenue generation, funding, allocation of Air Improvement Program funds, bonds, and passenger facility charges.


Kaps concludes with a discussion of the preparation of a business plan, which includes advice about starting and running a business. He also provides two typical business plan outlines. While the elements of fiscal management in aviation follow generally accepted accounting principles, many nuances are germane only to the airline industry. Kaps provides a basic understanding of the principles that are applicable throughout the airline industry.

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Editorial Reviews

From the Publisher
Fiscal Aspects of Aviation Management is an outstanding contribution to the field. There is a total vacuum in the area of fiscal management; this book goes a long way to filling that vacuum.”—Henry R. Lehrer, University of Nebraska Aviation Institute at Omaha
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Product Details

  • ISBN-13: 9780809322503
  • Publisher: Southern Illinois University Press
  • Publication date: 11/28/2000
  • Series: Southern Illinois University Press Series
  • Edition description: 1st Edition
  • Edition number: 3
  • Pages: 336
  • Sales rank: 896,403
  • Product dimensions: 6.00 (w) x 9.13 (h) x 1.00 (d)

Meet the Author

Robert W. Kaps is an associate professor in the Department of Aviation Management and Flight at Southern Illinois University Carbondale. He is the author of Air Transport Labor Relations (also available from Southern Illinois University Press.)

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Table of Contents

Preface ix
1. Financial Management and Accounting Procedures 1
The Need for Accounting Information in Business 4
Types of Accountants 8
The Accounting Equation 12
Some Simple Examples 18
The Accounting Cycle 22
Suggested Readings and References 24
2. Financial Management and Sources of Financial Information 25
Overview of Financial Management 25
Types of Business Organizations 30
Corporate Goals 37
Business Ethics 39
Agency Relationships 41
Maximizing Share Price 46
Business Activity and Organization 48
Sources of Financial Information 54
Suggested Readings and References 57
3. General Business Cycles 59
The Nature and Significance of Economic Fluctuations 59
The Federal Reserve and the Money Supply 66
Summary of General Business and Economic Cycles 69
Oligopolistic Characteristics of the Air Transport Sector 69
Cyclical Variations in the Air Transport Sector 74
Forecasting the Business Cycle 76
Other Measures of Economic Health 82
Suggested Readings and References 86
4. The Equity Markets 88
Common Stock 89
How and Why New Issues of Stock Are Sold 94
Preferred Stock 98
Mutual Funds 104
Review 105
Suggested Readings and References 114
5. Debt Markets 115
Bonds 115
Reading and Interpreting the Wall Street Journal 122
Banks 124
Long-Term Loans 126
Short-Term Loans 127
The Cost of Bank Loans 129
Leasing 130
Methods and Requirements for Raising Business Capital 134
Summary 144
Suggested Readings and References 145
6. Financial Statements 146
Annual Report Layout 146
The Balance Sheet 147
Asset Sheet 148
Liabilities 152
Capital Stock (Owner's Equity) 155
Reading the Balance Sheet 155
Balance Sheet Ratio Analysis 160
Capitalization Ratios 163
The Income Statement 163
Reading the Income Statement 166
Analyzing the Income Statement 167
Statement of Consolidated Cash Flows 172
Reading a Statement of Cash Flow 174
Footnotes and Auditors' Reports 176
Suggested Readings and References 182
7. Air Transport Sector Revenue Generation 183
Regulated Revenue Generation (1938-1978) 183
Deregulated Revenue Generation (1978-1988) 184
Global Revenue Generation (1988-Present) 189
Suggested Readings and References 200
8. Air Transport Operating Cost Management 202
Cost Management (1938-1978) 202
Labor Costs 205
Commissions 208
Fuel 212
Landing Fees and Rentals 216
Suggested Readings and References 219
9. Air Transport Yield Management Systems 220
Yield Management Definition 220
Yield Management Factors 221
Suggested Readings and References 231
10. Airport Financing 233
Airport Revenues 233
Airport Ownership 237
Airport Usage Categories and the Scope of Airport Finance 241
Financing Airport Operations 242
Revenue Generation 243
Airport Funding 245
Allocation of AIP Funds 251
Passenger Facility Charges 252
Bonds 255
Airport Privatization 260
Conclusions 262
Suggested Readings and References 263
11. Preparation of a Business Plan 265
Starting and Running a Business 265
Typical Business Plan Outline 267
Business Plan Outline II 268
Suggested Readings and References 280
Glossary 285
Index 309
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Customer Reviews

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  • Anonymous

    Posted April 3, 2002

    An excellent book by an excellent teacher

    I had the great priviledge of being a student of Dr. Kaps at Southern Illinois University. He is an outstanding teacher that makes learning fun and exciting. We used the original pre-publication version of 'Fiscal Aspects of Aviation Management.' It was a valuable learning tool and I'm sure the current version is even better. I highly recommend this book.

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