MONTE CARLO SIMULATION FOR DETERMINING NUMBER OF OPTIMUM AIRCRAFT ON FRACTIONAL AIRCRAFT OWNERSHIP
Flight hour demand increases significantly each year. It causes the aviation company think to develop new air transportation services, for example Fractional Aircraft <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /...
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| Format: | Final Project |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/15087 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Flight hour demand increases significantly each year. It causes the aviation company think to develop new air transportation services, for example Fractional Aircraft <br />
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Ownership (FAO). Fractional Aircraft Ownership is a concept of aircraft ownership that divide utilization of aircraft based on bought share. Differ from scheduled flight, on FAO each owner or passenger has right to determine destination and departure time based on agreed contract with FAO management company. Because the characteristic of this daily demand is stochastic, cost will be stochastic. Besides that, <br />
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FAO management company must consider all costs to determine number of available aircraft. In this final thesis, it will be explained how Monte Carlo simulation can simulate stochastic cost so that we can use that result to determine number of aircraft that maximize profit of FAO management company. |
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