Abstract
Abstract Aviation is an industry where continual risk assessing is paramount. Furthermore, the continued enhancement on technology and procedures makes it one of the safest mode of transportation. Although primarily analysis of hazards is against safety and security it, the current economic situation together with fierce competition between airports, airlines and other aviation stakeholders make necessary to develop new ways of assessing risks. It is clear that a single unforeseen event can result in the total collapse of airports and airlines and because of the severe impact appropriate control measures should be implemented and continuously monitored. The necessity to enhance the current risk assessments to include monetary values as an additional variable is discussed in this paper through a business case study. In the paper we consider an airport closure after fatal aircraft accident as the worst case scenario.
Published Version
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