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Survey on Revenue Management Models for Airlines  

Yoon Moon-Gil (한국항공대학교 경영학과)
Lee Hwi-Young (인하공업전문대학 항공경영과)
Publication Information
Journal of the Korean Operations Research and Management Science Society / v.30, no.2, 2005 , pp. 41-61 More about this Journal
Abstract
The concept of revenue management (RM) has been used widely in the air-transportation industry, and proven as a good system for managing perishable assets. While the airlines are the oldest and most sophisticated users of RM, these practices have been an enormously important innovation in other service industries such as the travel, the railway, the internet and the manufacturing industries. In this paper, reviewing several studies on RM, we introduce the fundamental concepts and the major models of RM covering seat allocation with multiple fare classes and overbooking. Future research directions also are suggested.
Keywords
Revenue Management; Yield Management; Diversion; No-show;
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