AndrewBentleyMOD5.docx - Running head COASTLINE AIRLINES Module 5.3 \u2013 Forecasting in Airline Strategic Planning and Management Coastline Airlines

AndrewBentleyMOD5.docx - Running head COASTLINE AIRLINES...

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Running head: COASTLINE AIRLINES1Module 5.3 – Forecasting in Airline Strategic Planning and ManagementCoastline AirlinesAndrew BentleyEmbry-Riddle Aeronautical UniversityCoastline AirlinesCoastline Airlines is a startup airline, focused on providing exceptional service and low-cost flights within the region. The mission statement of Coastline Airlines is “To provide exceptional service by using simple procedures, ensuring a stress-free travel experience for all”. Coastline will operate as a hybrid air carrier, using both low-cost airline and full-service carrier qualities. These qualities will put the airline a step above low-cost airlines, competing for customers from low-cost airlines and full-service airlines. As long as Coastline is efficient in their operations, the airline will continue to grow.Forecasting in Airline Strategic Planning and ManagementForecasting is one of the most important elements in creating an effective airline. Coastline Airlines will have four core components in forecasting. These components will include demand forecasting, competition forecasting, economic forecasting, and revenue forecasting. These components will allow Coastline to make informed decisions, promoting
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COASTLINE AIRLINES2continued growth. Let’s take a look at how these components affect Coastline Airline’s management decisions.
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