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At least 37 records · Page 2

The Role of Capital Productivity in British Airways' Financial Recovery

British Airways (BA) was privatized in 1987, but its financial recovery occurred a number of years earlier, This recovery was sustained throughout the early 1990s economic recession, a period when few major airlines were operating profitably. This paper examines the role of productivity developments at British Airways from the early 1980s through 1996. The emphasis is on capital productivity and investment, but changes in capital intensity and labour productivity are also evaluated. Various measures are considered for both capital and labour productivity: outputs are measured in available tonne-kms (ATKs) and revenue tonne-kms (RTKs), with the former preferred over the latter two measures, after adjustment for work performed by BA for others. Capital inputs are measured in equivalent lease costs adjusted to constant prices with a different treatment of flight and ground equipment or assets. Labour inputs are derived from total payroll costs deflated by a UK wage price index. The airline made considerable capital investments over the period and at the same time went through two major processes of labour restructuring. This resulted in a gradual increase in capital intensity, relative high labour productivity growth, but poor capital productivity performance, However, capital investment played an important role in the airline's sustained labour and total factor productivity over the whole period.

Morrell, Peter↗

Confidence in Airline Performance in Difficult Market Conditions: An Analysis of JetBlue's Financial Market Results

This paper examines the stock market s reaction to JetBlue s Initial Public Offering (1PO) and subsequent price movements of the stock. In particular, w e examine whether the euphoria surrounding JetBlue s IPO carried over to other firms in the sector by testing whether the shares of JetBlue s competitors showed a significant price reaction to JetBlue s IPO. JetBlue's IPO took place just a few months following September 11, 2001. These events resulted in dramatic changes in the airline industry and had significant implications on the economic gains of airlines. We examine JetBlue s accounting and stock performance and compare it to the relative performance of Southwest Airlines (SWA), a representative of the loa-cost carrier group. In addition, we compare both JetBlue's and SWA's financial condition and the relative performance of their stock to two mainline U S. carriers, Continental and Northwest. representatives of the conventional-cost carrier group. We analyze whether there are any performance differences among the low-cost carriers and between low-cost carriers and conventional-cost carriers. In particular, we examine whether low-cost carriers were able to sustain the economic impacts of 9/11 better than the conventional-cost carriers.

Flouris, Triant↗

Financial Comparisons across Different Business Models in the Canadian Airline Industry

This paper examines the accounting and stock price performance of two Canadian airlines, WestJet and Air Canada, over a five year period, taking into account the aftermath of the systemic shock to the airline industry produced by the September 11, 2001 (9-11), terrorist attacks and subsequent events such as the 2002 SARS outbreak, the wars in Afghanistan and Iraq, and the accompanying rise in jet fuel prices. Our study focuses on the viability of low-cost versus conventional-cost business models in Canada under the current business environment and the ability of airlines to withstand and effectively respond to catastrophic industry events. Furthermore, we link the effectiveness of the airlines responses to these events to specific elements of their respective business models. We test our hypothesis through a case study. We focus on WestJet as a typical low-cost airline and compare its accounting and stock performance to Air Canada, a legacy carrier and rival in several business sectors. We find WestJet to be much less affected by catastrophic industry events. By decomposing each airline s return volatility, we observe that WestJet s systematic and unsystematic risk increased only slightly during the industry's post-9-11 turmoil when compared to Air Canada. In addition, we find that both WestJet s accounting and stock performance have been highly superior to those of Air Canada. We argue that WestJet s business model provides the firm with significantly more financial and operational flexibility than its legacy rival, Air Canada. WestJet's lower operating costs, high consumer trust, product offering, corporate structure, workforce and work practices, as well as operational procedures are all factors that appear to contribute to its relative success.

Flouris, Triant↗

Examining the Trends in Financial Support Given to Science Teams for Data Analysis in Mission Proposals

Introduction: The goal of this summer internship research project was to analyze trends in financial support proposed for the science teams of planetary missions. The analysis focuses on the funding for Co-Investigators (Co-Is) to conduct research and/or data analysis needed to achieve the science objectives of the mission. The operational portion of the missions after launch (i.e., Phase E, including cruise and prime operations at the final destination) were examined since that is when the bulk of research is funded and conducted. The objectives of the project were to determine the average level of support for Co-Investigators, identify variation between mission competitions and over time, and determine the relationship between mission type and the amount of support requested. Methodology: This project was conducted using data from 90 proposals submitted to six mission competitions in the Discovery and New Frontiers programs. The level of support for Co-Is was determined by examining Work Breakdown Structure (WBS) 4 (Science Analysis) for Phase E, which was further subdivided into cruise and prime operations. This data represents a proxy rather than the actual funding Co-Is receive to perform research and data analysis because not every dollar in WBS 4 is spent on this activity. Therefore, the proxy obtained in this research represents an overestimate of the funds allocated to Co-Is for research and data analysis. Findings: Analysis shows that on average a Co-I receives approximately four full years of support spread across the entirety of Phase E for science analysis. The variation among proposed missions is less than expected given the variety of factors that are expected to drive this metric (length of mission, mission type, etc.). Additionally, the level of requested support for Co-Is has been remarkably consistent across every variable considered (by competition, over time, by mission type) over the six competitions and nearly 20 years spanned by this project. This remains true for cruise, primary operations, and all of Phase E. Conclusions: A remarkable amount of science is accomplished by the science teams of planetary missions. However, a surprisingly small amount of funding is requested to support the science analysis driving this productivity, both in terms of absolute magnitude of funding and as a portion of total mission cost. This suggests improvements are needed to refine the estimates of Co-I support and/or that Co-Is rely on other funding sources to conduct their research. Better estimates can be determined by engaging directly with Co-Is and NASA centers to obtain data as well as finding other data sources. Additionally, NASA could consider mandating improved reporting of requested funding levels in mission competitions.

E Murray↗

Financial assessment of the Space Operations Center as a Private Business Venture

The possibility of private financing and operation of the Space Operations Center (SOC) is considered as an alternative to SOC development by the government. A hypothetical revenue model for SOC services is constructed and is compared with NASA estimates of SOC development and operating costs. A present value analysis based on a 1985 to 2000 investment horizon shows a potential for substantial profit in a private SOC venture, although the possibility of large losses is not discounted. Present value estimates range from $8.6 billion down to a low minus $3.3 billion.

Simon, M.↗

Managing schedule and financial risk in a faster, better, cheaper development

The X2000 Program is a technology development program that will provide next generation avionics for missions to deep space. The goal of the X2000 Program is to develop revolutionary flight and ground systems which can be replicated by missions at a low cost, affording timely new science and mission opportunities to investigators and institutions.

risk finance schedule↗

Analyzing nonstationary financial time series via hilbert-huang transform (HHT)

An apparatus, computer program product and method of analyzing non-stationary time varying phenomena. A representation of a non-stationary time varying phenomenon is recursively sifted using Empirical Mode Decomposition (EMD) to extract intrinsic mode functions (IMFs). The representation is filtered to extract intrinsic trends by combining a number of IMFs. The intrinsic trend is inherent in the data and identifies an IMF indicating the variability of the phenomena. The trend also may be used to detrend the data.

Huang, Norden E.↗

A Contemporary Analysis of the O'Neill-Glaser Model for Space-Based Solar Power and Habitat Construction

In 1975 Gerard O Neill published in the journal Science a model for the construction of solar power satellites. He found that the solar power satellites suggested by Peter Glaser would be too massive to launch economically from Earth, but could be financially viable if the workforce was permanently located in free space habitats and if lunar and asteroid materials were used for construction. All new worldwide electrical generating capacity could be then achieved by solar power satellites. The project would financially break even in about 20 years after which it would generate substantial income selling power below fossil fuel prices. Two NASA / Stanford University led studies at Ames Research center during the summers of 1974 and 1976 found the concept technically sound and developed a detailed financial parametric model. Although the project was not undertaken when suggested in the 1970s, several contemporary issues make pursuing the O Neill -- Glaser concept more compelling today. First, our analysis suggests that if in the first ten years of construction that small habitats (compared to the large vista habitats envisioned by O Neill) supporting approximately 300 people were utilized, development costs of the program and the time for financial break even could be substantially improved. Second, the contemporary consensus is developing that carbon free energy is required to mitigate global climate change. It is estimated that 300 GW of new carbon free energy would be necessary per year to stabilize global atmospheric carbon. This is about 4 times greater energy demand than was considered by the O Neill Glaser model. Our analysis suggests that after the initial investments in lunar mining and space manufacturing and transportation, that the profit margin for producing space solar power is very high (even when selling power below fossil fuel prices). We have investigated the financial scaling of ground launched versus space derived space solar power satellites. We find that for the carbon mitigation case even modernized ground launched space solar power satellites are not financially viable. For space derived solar power satellites, however, the increased demand makes them break even substantially sooner and yield much higher profit. Third, current awareness is increasing about the dangers of humanity remaining a single planet species. Our technological power has been increasing relative to the size of the planet Earth. Since the middle of the 20th century our technological power has grown large relative to our planet's size. This presents a very real potential for human self-extinction. We argue that the potential for human self-extinction is increasing with time in proportion to the exponential growth of our technological power making self-extinction likely within this century if humanity remains a single planet species. The O Neill model of multiple independent free space habitats, it is argued, can protect humanity from extinction in the same way that portfolio diversification protects ones assets from total loss. We show that about 1 million people for the electricity only case, and about 1 billion people for the carbon mitigation case, can be provided with permanent space habitats and transportation from Earth in 30 years and can be funded by the space derived solar power satellite program. 1.2 Scope of this Chapter The goal of this chapter is to illustrate the power and importance of the O'Neill-Glaser concept in the context of human survival and maintaining a healthy planet Earth. We argue that at this point in human history our technological power is too dangerous to our selves and our home planet for us not to expand into space. We show by the models presented in the chapter that the imminent dangers of global warming and human self-extinction mandate that humanity move aggressively into the solar system in this generation. We show that the production of solar power satellites using space resources and with a work foe living in space provides a viable financial model to mitigate CO2 preventing the worst global warming scenarios, and safeguards humanity against self-extinction by providing hundreds of habitats and a billion people living in space within about 35 years. To accomplish this goal we need only consider the classic O'Neill-Glaser model which was parameterized for 1970's technological projections. Only habitat size optimization for the first ten years of production is added. This is a conservative approach since the innovations of the last 30 years will make the financial projections more favorable. However, the classic O'Neill-Glaser model represented a broad technological consensus. The model is well documented in the references and our calculations can be easily reproduced In this chapter the economics of the O Neill - Glaser model is compared with models that rely exclusively on Earth launched materials. Although many studies of Earth launched Solar Power Satellites have been made, we found that the NASA "Fresh Look Study" was the most comprehensive and well documented. It also provided one of the most optimistic Earth launch financial projections. We thus chose it for comparison purposes.

Curreri, Peter A.↗

National Aeronautics and Space Administration Fiscal Year 2001 Accountability Report

The National Aeronautics and Space Administration (NASA) is an independent Agency established to plan and manage the future of the Nation's civil aeronautics and space program. This Accountability Report covers Federal Fiscal Year (FY) 2001 (October 1, 2000, through September 30, 2001), with discussion of some subsequent events. The Report contains an overview addressing the Agency's critical programs and financial performance and includes highlights of performance organized by goals and objectives of the Enterprises and Crosscutting Processes. The Report also summarizes NASA's stewardship over budget and financial resources, including audited financial statements and footnotes. The financial statements reflect an overall position of offices and activities, including assets and liabilities, as well as results of operations, pursuant to requirements of Federal law (31 U.S.C. 3515(b)). The auditor's opinions on NASA's financial statements, reports on internal controls, and compliance with laws and regulations are included in this report.

Source record↗

National Aeronautics and Space Administration FY 2001 Accountability Report

The National Aeronautics and Space Administration (NASA) is an independent Agency established to plan and manage the future of the Nation's civil aeronautics and space program. This Accountability Report covers Federal Fiscal Year (FY) 2001 (October 1, 2000, through September 30, 2001), with discussion of some subsequent events The Report contains an overview addressing the Agency's critical programs and financial performance and includes highlights of performance organized by goals and objectives of the Enterprises and Crosscutting Processes. The Report also summarizes NASA's stewardship over budget and financial resources, including audited financial statements and footnotes. The financial statements reflect an overall position of offices and activities, including assets and liabilities, as well as results of operations, pursuant to requirements of Federal law (31 U.S.C. 3515(b)). The auditor's opinions on NASA's financial statements, reports on internal controls, and compliance with laws and regulations are included in this Report.

Source record↗

A Three-fold Outlook of the Ultra-Efficient Engine Technology Program Office (UEET)

The Ultra-Efficient Engine Technology (UEET) Office at NASA Glenn Research Center is a part of the Aeronautics Directorate. Its vision is to develop and hand off revolutionary turbine engine propulsion technologies that will enable future generation vehicles over a wide range of flight speeds. There are seven different technology area projects of UEET. During my tenure at NASA Glenn Research Center, my assignment was to assist three different areas of UEET, simultaneously. I worked with Kathy Zona in Education Outreach, Lynn Boukalik in Knowledge Management, and Denise Busch with Financial Management. All of my tasks were related to the business side of UEET. As an intern with Education Outreach I created a word search to partner with an exhibit of a Turbine Engine developed out of the UEET office. This exhibit is a portable model that is presented to students of varying ages. The word search complies with National Standards for Education which are part of every science, engineering, and technology teachers curriculum. I also updated a Conference Planning/Workshop Excel Spreadsheet for the UEET Office. I collected and inputted facility overviews from various venues, both on and off site to determine where to hold upcoming conferences. I then documented which facilities were compliant with the Federal Emergency Management Agency's (FEMA) Hotel and Motel Fire Safety Act of 1990. The second area in which I worked was Knowledge Management. a large knowledge management system online which has extensive documentation that continually needs reviewing, updating, and archiving. Knowledge management is the ability to bring individual or team knowledge to an organizational level so that the information can be stored, shared, reviewed, archived. Livelink and a secure server are the Knowledge Management systems that UEET utilizes, Through these systems, I was able to obtain the documents needed for archiving. My assignment was to obtain intellectual property including reports, presentations, or any other documents related to the project. My next task was to document the author, date of creation, and all other properties of each document. To archive these documents I worked extensively with Microsoft Excel. different financial systems of accounting such as the SAP business accounting system. I also learned the best ways to present financial data and shadowed my mentor as she presented financial data to both UEET's project management and the Resources Analysis and Management Office (RAMO). I analyzed the June 2004 financial data of UEET and used Microsoft Excel to input the results of the data. This process made it easier to present the full cost of the project in the month of June. In addition I assisted in the End of the Year 2003 Reconciliation of Purchases of UEET.

Graham, La Quilia E.↗

Agency Agreements Process Champion Support Intern

This document will provide information on the 2018 Spring semester NIFS Intern who represented the Office of Chief Financial Officer (OCFO) as a Reimbursable Accountant at Kennedy Space Center (KSC). This intern supported the Agency Agreements Process Champions and Team Lead, Susan Kroskey, Sandy Massey and Mecca Murphy, with major initiatives to advance the KSC OCFO's vision of creating and innovating healthy financial management practices that maximize the value of resources entrusted to NASA. These initiatives include, but are not limited to: updating the Agency Guidance and NASA Procedural Guidance 9090.1 Agreements, implementing a new budget structure to be utilized across all centers, submitting a Call Request (CRQ) to enhance non-federal customer reporting, initiating a discussion to incorporate a 3-year funding program for NASA agreements, and undertaking the Office of Inspector General (OIG) Audit. In support of these initiatives, this intern identified technical methods to enhance and reduce the workload of financial processes for reimbursable and non-reimbursable agreements, prepared reports in support of accounting functions, and performed administrative work and miscellaneous technical tasks in support of the OCFO as requested. In conclusion of the internship, the intern will become knowledgeable on reimbursable accounting, reimbursable policy, types of reimbursable agreements, the agreements process, estimated pricing reports, and the roles and responsibilities of the Financial Accounting and Financial Services offices.

Process Champion↗

NASA University Program Management Information System

As basic policy, NASA believes that colleges and universities should be encouraged to participate in the nation's space and aeronautics program to the maximum extent practicable. Indeed, universities are considered as partners with government and industry in the nation's aerospace program. NASA's objective is to have them bring their scientific, engineering, and social research competence to bear on aerospace problems and on the broader social, economic, and international implications of NASA's technical and scientific programs. It is expected that, in so doing, universities will strengthen both their research and their educational capabilities to contribute more effectively to the national well-being. NASA field codes and certain Headquarters program offices provide funds for those activities in universities which contribute to the mission needs of that particular NASA element. Although NASA has no predetermined amount of money to devote to university activities, the effort funded each year is substantial. This annual report is one means of documenting the NASA-university relationship, frequently denoted, collectively, as NASA's University Program. This report is consistent with agency accounting records, as the data is obtained from NASA's Financial and Contractual Status (FACS) System, operated by the Financial Management Division and the Procurement Office. However, in accordance with interagency agreements, the orientation differs from that required for financial or procurement purposes. Any apparent discrepancies between this report and other NASA procurement or financial reports stem from the selection criteria for the data. This report was prepared by the Education Division/FE, Office of Human Resources and Education, using a management information system which was modernized during FY 1993.

Gans, Gary↗