Citation
Scheduling Multiple Types of Time-Shared Aircraft: Models and Methods for Practice. In proceedings of the 2nd Multidisciplinary International Conference on Scheduling : Theory and Applications (MISTA 2005), 18 -21 July 2005, New York, USA, pages 19-38, 2005.
Paper
Abstract
Fractional aircraft ownership programs, where individuals or corporations own a fraction of an aircraft, have revolutionized the corporate aviation industry. Fractional management companies (FMCs) manage all aspects of aircraft operations enabling the owners to enjoy the benefits of private aviation without the associated responsibilities. We describe here the development of a decision support system for a leading FMC that considers multiple aircraft types as well as incorporates crew constraints. We developed several mathematical models and heuristics, and analyzed the models through a computational study using real data as well as randomly generated data. Our results indicate that the models are quite effective in finding optimal or near optimal solutions. The first phase of the implementation of one of these models at the FMC has led to a significant improvement in effective utilization of the aircraft (from 62% to over 70%), reduction of costs due to reduced empty moves, and hence increased profits. The second phase incorporating some of the other models is in progress, in large part due to the value created through the use of the phase 1 model.
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Bibtex
@INPROCEEDINGS{2005-019-038-P, author = {I. Karaesmen and P. Keskinocak and S. Tayur and Wei Yang},
title = {Scheduling Multiple Types of Time-Shared Aircraft: Models and Methods for Practice},
booktitle = {In proceedings of the 2nd Multidisciplinary International Conference on Scheduling : Theory and Applications (MISTA 2005), 18 -21 July 2005, New York, USA},
year = {2005},
editor = {G. Kendall and L. Lei and M. Pinedo},
pages = {19--38},
note = {Paper},
abstract = {Fractional aircraft ownership programs, where individuals or corporations own a fraction of an aircraft, have revolutionized the corporate aviation industry. Fractional management companies (FMCs) manage all aspects of aircraft operations enabling the owners to enjoy the benefits of private aviation without the associated responsibilities. We describe here the development of a decision support system for a leading FMC that considers multiple aircraft types as well as incorporates crew constraints. We developed several mathematical models and heuristics, and analyzed the models through a computational study using real data as well as randomly generated data. Our results indicate that the models are quite effective in finding optimal or near optimal solutions. The first phase of the implementation of one of these models at the FMC has led to a significant improvement in effective utilization of the aircraft (from 62% to over 70%), reduction of costs due to reduced empty moves, and hence increased profits. The second phase incorporating some of the other models is in progress, in large part due to the value created through the use of the phase 1 model.},
owner = {Faizah Hamdan},
timestamp = {2012.05.21},
webpdf = {2005-019-038-P.pdf} }