The comprehensive aerospace index (CASI): Tracking the economic performance of the aerospace industry

In this paper, we described the Comprehensive AeroSpace Index (CASI), a financial index aimed at representing the economic performance of the aerospace industry. CASI is build upon a data set of approximately 20 years of daily close prices set, from January 1987 to June 2007, from a comprehensive sample of leading aerospace-related companies with stocks negotiated on the New York Exchange (NYSE) and on the over-the-counter (OTC) markets. We also introduced the sub-indices CASI-AERO, for aeronautical segment, and CASI-SAT, for satellite segment, and considered the relation between them. These three indices are compared to others aerospace indices and to more traditional general financial indices like DJIA, S&P500 and Nasdaq. Our results have shown that the CASI is an index that describes very well the aerospace sector behavior, since it is able to reflect the aeronautical segment comportment as well as the satellite one. Therefore, in this sense, it can be considered as a representative index of the aerospace sector. Moreover, the creation of two sub-indices, the CASI-AERO and the CASI-SAT, allows to elucidate capital movements within the aerospace sector, particularly those of speculative nature, like the dot.com bubble and crash of 1998–2001.     

Stable two-sided matching of slot allocation in airport collaborative decision making by top trading cycles mechanism

The problem of capacity shortage in some airports needs to be dealt with sustainable solutions including a more efficient use of the existing runway slots at the airports. The Collaborative Decision Making (CDM) is an important approach applied to Air Traffic Management (ATM) to achieve this efficient use of the slots allocation. Using the Matching approach for two-sided markets of Game theory, the Top Trading Cycle CDM (TTC-CDM) algorithm developed in this research is an extension of the CDM approach aggregating the Ground Delay Program (GDP) of the air sector. The paper compared the developed TTC-CDM model to the existing models such as the conventional Compression algorithm in CDM, the Trade Cycle algorithm and the Deferred Acceptance CDM (DA-CDM) model to evaluate the performance of the proposed model. Through a case study, the results show the effective application of TTC-CDM model to slot allocation in ATM and also presents the advantage of considering the preferences of airport managers beside ATC controllers and airlines in the decision processing.