DETERMINATION OF OPTIMAL RATE OF RETURN AND MINIMATION OF PRIORITY STOCK CANCELLATION FLIGHT IN FRACTIONAL AIRCRAFT OWNERSHIP FLIGHT

• Main Author: Trianto Atmojo, Alvin
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/46391
• Institution: Institut Teknologi Bandung

Aviation industry is one of the industries most needed in this globalization era. For some people, especially businesses and government, the transportation services available may not be able to meet the needs of high mobility. To meet this demand, Fractional Aircraft Ownership (FAO) was formed. FAO is a flight service that uses the concept of joint ownership of aircraft by dividing the use of aircraft based on the share owned by members called FAO. FAO activities are carried out by FAO management which collects the demand requirements submitted earlier in the month. Flights are conducted privately, so fellow members cannot use the same plane or schedule. The FAO system contract period lasts for 5 years. However, there are inevitable possibilities such as reducing operational costs in meeting demand and flight delays. This results in a reduction in flight schedules. To avoid inconvenience for members, a priority share scheme is formed so that members who have dominant shares are not canceled much. In this final project an application of fuzzy linear programming will be used to determine the number of flight cancellations from existing constraints and the determination of the rate of return of various possible combinations of the number of members and shares they have.