Flexible facility requirements for strategic planning of airport passenger terminal infrastructure

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dc.contributor.authorWaltert, Manuel
dc.contributor.authorJimenez Perez, Edgar
dc.contributor.authorPagliari, Romano
dc.date.accessioned2024-01-11T14:51:48Z
dc.date.available2024-01-11T14:51:48Z
dc.date.issued2023-11-30
dc.description.abstractFacility requirements determine how and when the capacity of airport passenger terminal facilities is adjusted over time to meet expected demand. Given high levels of uncertainty inherent in long-term airport planning, under and over provision of capacity is a recurrent risk, as conventional strategic planning methods fail to adapt dynamically to changing circumstances. This paper introduces a novel flexible capacity expansion model for airport terminals that considers simultaneously real options ‘on’ and ‘in’ systems. The model is validated for the provision of check-in facilities at Zurich Airport. Results confirm suggestions in the literature that incorporating flexibility creates planning and financial advantages over conventional alternatives. Indeed, for the case of Zurich, the financial value of the flexible alternative is approximately 5% higher than the best conventional phased plan. This also suggests that phasing developments can be carefully devised to produce satisfactory outcomes that enable ex-post application of flexibility ‘on’ systems.en_UK
dc.identifier.citationWaltert M, Jimenez Perez E, Pagliari R. (2023) Flexible facility requirements for strategic planning of airport passenger terminal infrastructure. Transportmetrica A: Transport Science, Available online 30 November 2023en_UK
dc.identifier.eissn2324-9943
dc.identifier.issn2324-9935
dc.identifier.urihttp://doi.org/10.1080/23249935.2023.2287502
dc.identifier.urihttps://dspace.lib.cranfield.ac.uk/handle/1826/20643
dc.language.isoenen_UK
dc.publisherTaylor & Francisen_UK
dc.rightsAttribution 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/*
dc.subjectFlexible airport strategic planningen_UK
dc.subjectairport passenger terminal facilityen_UK
dc.subjectfacility requirementsen_UK
dc.subjectreal optionsen_UK
dc.subjectdecision rulesen_UK
dc.titleFlexible facility requirements for strategic planning of airport passenger terminal infrastructureen_UK
dc.typeArticleen_UK
dcterms.dateAccepted2023-11-18

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