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Two Approaches to Airport Financial Management - Term Paper Example

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This term paper “Two Approaches to Airport Financial Management“ concerns the operational activities and financial management practices in the airport industry. The author itemizes various types of revenue sources available at the airports as well as variant kinds of expenses underwent by them…
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Two Approaches to Airport Financial Management
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Download file to see previous pages Airports are a type of facility which is offered to the passengers to get connected from ground to air transportation. Aircraft like helicopters and airplanes land and take off in airports. Storage facilities for aircraft are also available at airports. Buildings like terminal buildings and hangars and runways for landing and takeoff of aircraft are all present in the airports. Airports can be divided into different divisions based on the various types of operational activities performed by each of the divisions. Some of those divisions are a) Airport development and planning division, b) Airport operations division, and c) Airport financial division. Some of the primary objectives of each of these airport divisions are to ensure the safety of the passengers, increase its operational efficiency, and performing the cargo and aircraft operations effectively. Airport financial management is one of the important aspects of managing the operating expenses and revenue balances of airports. The revenues that are generated from operating the airports are generally utilized in the process of covering up its operating expenses. This study entails about the financial management practices followed by the airports. All the different types of sources of revenues for the airports along with the different kinds of expenses incurred by them have also been identified in this study.
Airlines-airport relationship is critical to the success of any kind of airport business. It is so because the airports need the revenues generated through different types of payments made to them by the airlines and the airlines, in turn, need to depend on the airports to utilize the facilities available to them at the airports which are required by them. Legal agreements generally specify the methods through which responsibilities and risks related to running an airport are shared and thus creating a relationship between the airlines and airport operators. These types of contracts are generally termed as "airport use agreements". ...Download file to see next pagesRead More
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