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Aircraft Leasing With Contracts, Qiong Zuo
Aircraft Leasing With Contracts, Qiong Zuo
Dissertations and Theses Collection (Open Access)
We study a problem of rental rate pricing and rental contract designing in aircraft leasing industry. In a framework of Stackelberg game, the system is composed of an airline company (carrier) and an aircraft leasing company (lessor). Acting as the leader, the lessor announces daily rental rates and/or provides long-term contracts on a finite horizon with multiple periods. For each period, the carrier determines the aircraft leasing number to adjust the flight capacity, and applies a dynamic pricing policy for air-tickets based on a seasonally stochastic demand and some economic factor, such as oil price. We find the optimal policies …