A method to the madness
Which method allows two companies to exchange aircraft time on an hour-for-hour basis?
Interchange
__________ comes from the realization that the job being performed is essential and adds value
motivation
The decreasing value of a capital asset is recognized over its life as a fixed
expense and is called?
Depreciation
Pilot/Crew Salaries, Insurance, hangar rentals, and depreciation are all what type of costs?
Fixed
LOS (for this course)
Level of service
What low-risk option is best for companies with under 150 annual flight hours?
Charter
What category of cost includes the initial aircraft purchase price?
Capital cost
Forms of transportation (e.g., airlines, railroads, buses, ferry boats) that operate according to set, predetermined schedules.
Scheduled Transportation
The personality, values, and practices of a company, influenced by its leadership, which determines its approach to business, including decisions regarding air transportation.
Corporate Culture
ICAO
International Civil Aviation Authority
A concept where an individual or company purchases a share (e.g., 1/16th, 1/8th) of a business aircraft, granting a certain number of flight hours per year, with a provider managing all operations.
Fractional Ownership
What category of operating cost includes fuel, oil, and landing fees?
Variable Costs
The pioneering fractional ownership program introduced by Executive Jets Aviation in 1986
NetJets
Which U.S. organization is the primary advocate for business aviation?
NBAA
SMS
Safety Management Systems
A company-owned or leased aircraft operation managed and staffed by full-time professional pilots and support personnel directly employed by the company.
In-House Flight Department
Which resource is generally the hardest for executives to control effectively?
Time
A detailed examination of airline travel records to determine popular origins and destinations, trip frequencies, personnel levels traveling, and costs per trip.
City-Pair Analysis
What are the 3 categories of civil aviation under ICAO?
1. Commercial Air Transport
2. General Aviation
3. Aerial Work
BA
Business Aviation
Lending aircraft (with crew) to a second party for operating costs; not considered commercial in the U.S., avoiding charter regulations; tax and liability considerations.
Time Share
The transportation of passengers and cargo by aircraft from one point to another in a manner and at a time designated by the person exercising operational control, emphasizing flexibility over fixed schedules.
On-Demand Air Transportation
Three Aspects Examined in this process include:
1. Historical view of airline and on-demand travel (past 12 months).
2. Planned and expected travel needs for the near future.
3. Solutions for these needs.
Air Transportation Analysis
Whose 1927 transatlantic flight significantly boosted confidence in civil aviation?
Charles Lindbergh
CFBAA
Central Florida Business Aviation Association