Abstract
A model is developed for planning the acquisition and disposal of equipment in a transport fleet. It deals specifically with the composition over time of a commercial airline fleet but is generally applicable to any problem of fleet planning under conditions of technological change with budgetary constraints on interrelated projects and dealing with items which deteriorate with use. A number of previous models are examined, each of which deals separately with a different element of the problem, and by analysis of the theoretical background to some of these a realistic but still viable model is developed. The size and composition over time of a fleet is considered as a set of interrelated capital investment projects subject to demand, availability, budgetary and technological constraints. A simple numerical illustration is formulated and solved and the solution discussed.
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