module specification

CA6056 - Financial Management for Aviation (2018/19)

Module specification Module approved to run in 2018/19
Module title Financial Management for Aviation
Module level Honours (06)
Credit rating for module 15
School Guildhall School of Business and Law
Total study hours 150
 
35 hours Assessment Preparation / Delivery
70 hours Guided independent study
45 hours Scheduled learning & teaching activities
Assessment components
Type Weighting Qualifying mark Description
Coursework 60%   Case Study(Project appraisal - 2500 words)
Unseen Examination 40%   Written Exam (1.5 hrs)
Running in 2018/19
Period Campus Day Time Module Leader
Autumn semester City Friday Morning

Module summary

This module gives an overview of the strategic decision-making methods and approaches of the aviation industry; financial measures, valuation, appraisal and planning of aviation corporate finances; financial sources; financial prospects of the industry.
The continuing effects of economic deregulation and intensified competition have profound impacts on the aviation industry. Aviation financial management encompasses financial analysis, modelling and various other methods used to solve financial challenges faced by organisations in the industry.

Syllabus

• Use the concept of ‘time value of money’ to synthesise and compare alternative outcomes for the corporate decision-making process
• Evaluate various corporate strategic decision-making techniques to a variety of long-term planning scenarios
• Compare and assess the performance of the aviation industry both historically and currently
• Appraise financial statements such as balance sheets, financial ratios, etc. and evaluate how theses statements and ratios are used in evaluating the financial health of a company
• Give an appraisal of financial plans and long-term business viability
• The various sources for financial funding
• Appraise the future financial health of the industry

Balance of independent study and scheduled teaching activity

The formal delivery of the teaching and learning will be around three-hour weekly workshops involving lecture/seminar periods, and include lectures, guest speakers, case study discussions, panel discussions and debates, film and DVDs, as well as scenario-based activities and simulations.

Within the module, there is significant opportunity to participate in proactive learning activities via the use of Weblearn facilities, which promote inter-active discussions between both peers and lecturers and enables learners to share resources and access links to external journal articles, websites and other sources.

Discussion and debate are actively encouraged both within the classroom context and via Weblearn. Students participating in this degree come from a variety of backgrounds and often have a wealth of industry experience upon which to draw. It is useful to access this via proactive and inter-active classroom management. Students are responsible for preparing for forthcoming lectures to ensure that they fully understand the concepts discussed and can participate constructively in debates and discussions.

Tutors will provide an indication of forthcoming lecture content at the end of each preceding lecture. The student should then research articles and appropriate readings around these themes to contribute fully to discussions and inter-active Question and Answer sessions within the lecture.

Opportunities for reflective learning will be available throughout the module as students will consider their approach to tasks and discussions whilst simultaneously reflect upon informal feedback from lecturers on ideas and concepts spoken in class, and on assessments.

Learning outcomes

At the end of this module, Students will be able to:
• LO1 Analyse and evaluate aviation financial proposals using the ‘time value of money’
• LO2 Applies a systematic understanding to financial statements using ratios and also evaluate the various sources of aviation finance

Assessment strategy

Assessment of this module will take the form of a financial appraisal case study that looks into time value of money and four different appraisal methods.
Aviation financial managers have to make decisions on a variety of issues including the type of aircraft to buy, catering suppliers and so forth. The case study will equip students with the necessary skills to make competent decisions.

An examination complements the case study to evaluate student understanding and application of the key concepts in aviation finance without reference to sources.

Bibliography

Core Textbooks:

Morrell, S. (2009) Airline Finance, Ashgate Publishing, Aldershot
Graham, A. (2008) Managing Airports an International Perspective, Butterworth Heinemann, Oxford
Vasigh,B. (2010)  Foundations of Airline Finance, Ashgate Publishing, Aldershot
Graham, A. (2008) Managing Airports an International Perspective, Butterworth Heinemann, Oxford

Websites:
www.journals.elsevier.com/journal-of-air-transport-management
www.aviationfinance.aer
www.sciencedirect.com/journal/journal-of-air...management/articles
www.henrystewartpublications.com/jam
ww.icaew.com/library/subject-gateways/accounting/accounting-by.../aviation
IATA.org

Specific Aviation Journals:

There are a range of e journals of management generally and the aviation industry to access via the online library facilities for this module, e.g. The Journal of Air Transport Management , Aviation Management and Education, Airline Business, Airport Business, Flight International.