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 Contents vii
10.3 Air freight pricing 216
10.4 Revenue management 221

11 Airline costs 229

11.1 All-cargo airline costs 229
11.2 Freighter aircraft costs by aircraft type 242
11.3 ACMI/wet lease aircraft operating costs 245
11.4 Problems of joint production on passenger services 247

12 Air cargo financial performance 250

12.1 Cargo airline profitability 250
12.2 Nippon Cargo Airlines case study 253
12.3 Federal Express case study 263
12.4 Network carrier cargo subsidiaries 268

13 Air cargo and the environment 273

13.1 Background 273
13.2 Aircraft noise 273
13.3 Air transport’s existing contribution to global CO2 emissions 281
13.4 Emissions taxes and charges 288
13.5 Emissions trading schemes and air cargo 289
13.6 Global market-based measure: ICAO’s CORSIA 294
13.7 Non-CO2 effects of aviation 296
13.8 Air cargo and food miles 297
13.9 Conclusions 297

14 Air cargo forecasting 301

14.1 Air cargo forecasting approaches 302
14.2 Airline forecasts 307
14.3 Airport forecasts 308
14.4 Air traffic management forecasts 309
14.5 ICAO forecasts 311
14.6 Other industry forecasts 313
14.7 Aircraft manufacturer forecasts 313
14.8 Forecasting cyclical air cargo developments 320
14.9 Outlook 321

Definitions 325

Index 335
Figures

1.1 Passenger versus freight traffic trends, scheduled international

services, 2005–2016 2
1.2 Growth rates for international freight versus mail traffic,
2005–2016 3
1.3 Distribution of world international freight tonne-km traffic by
trade lane, 2016 6
1.4 Global cargo traffic (FTKs) versus world trade and GDP
(2005 to 2016) 12
1.5 US inventory to sales ratio vs international air freight traffic
(2006 to 2016) 12
1.6 Total international air freight tonne-kms traffic variation by
month, 2010 to 2016 17
1.7 Hong Kong International Airport freight tonnes variation by
month, 2014 18
2.1 World trade by commodity (air and surface transportation) 27
2.2 Seasonality of telecommunication equipment shipments
(2014–2016) 29
2.3 Air cargo imports of cut flowers into the EU (metric tonnes,
2002–2016) 31
2.4 Seasonality of cut flowers (2014–2016) 32
2.5 Air trade by commodity, 2015: Europe to/from Asia 36
2.6 Air trade by commodity, 2015: North America to/from Asia 38
2.7 Air trade by commodity, 2015: North America to/from Latin
America 40
2.8 Air trade by commodity, 2015: North America to/from Europe 41
2.9 US air share of trade value (excluding North America),
1965 to 2017 48
2.10 Cumulative mode shift weight from air to ocean 2000–2013,
by year 49
3.1 US screening programme 57
3.2 Freedoms of the air (air traffic rights) 72
4.1 The air cargo value chain 83
4.2 Types of cargo airlines with examples for each category 84
 Figures ix
4.3 Scheduled international air cargo and share of freighters
1992–2016 91
5.1 Operators in air cargo/parcels market 110
5.2 Geographic presence vs service levels 111
5.3 Global freight forwarding market size, 2010–2016 121
7.1 Freighter aircraft conversions, 1997 to 2016 154
7.2 Payload-range trade-off 159
7.3 Temperature impact on load factor Nairobi-Amsterdam
in January 163
8.1 Example of an air waybill 172
8.2 Unit load devices (ULDs) – examples 180
9.1 Forecasts of share of e-commerce in global retail sales,
2015 to 2021 197
9.2 Example of multinational offshoring of production 198
9.3 Total distribution cost model 201
10.1 World airline passenger versus cargo yields and oil price,
index 1990 = 100 211
10.2 Cathay Pacific cargo and passenger yields vs kerosene price,
1997–2007 212
10.3 Cathay Pacific cargo and passenger yields vs kerosene price,
2007–2016 213
10.4 Lufthansa cargo revenues per RTK, and €/US$ exchange rate,
1999 to 2016 213
10.5 British Airways fuel surcharge versus jet kerosene price
(Sep 2002 to May 2010) 218
10.6 Spot market rates by product and advance booking 224
10.7 Overbooking cost optimisation 226
11.1 All-cargo airline unit costs versus average sector distance, 2014 230
11.2 Operator unit cost versus RTK size, 2014 231
11.3 Trends in spot crude and jet kerosene prices, 1989 to 2016 237
12.1 World airline profitability, 2006–2016 251
12.2 US all-cargo airline profitability, 2006 vs 2016 252
12.3 Return on invested capital by value chain participant 254
12.4 Nippon Cargo Airlines traffic and load factor trends, 1990 to 2016 257
12.5 Nippon Cargo Airlines margin developments, 1991–2016 261
12.6 Nippon Cargo Airlines yield and unit cost developments,
1988–2016 262
12.7 Federal Express international traffic and load factor trends,
1992 to 2016 265
12.8 Federal Express margin developments, 1988–2014 268
13.1 ICAO noise standard development 274
13.2 Global emissions share by main sectors in 2014 282
13.3 Change in global emissions share by main sectors between
1990 and 2014 283
13.4 Trend in market price of EUAs, 2009 to 2017 291
x Figures
13.5 Impact of benchmarking on B737-400 flight with hypothetical
average at 1,850km sector length 292
14.1 ICAO methodology for forecasting air freight 312
14.2 Airbus Global Market Forecast methodology for freighter
demand 314
14.3 Forces and constraints for air cargo growth 315
14.4 Boeing World Air Cargo Forecasts vs actual FTK
development 1970–2035 319
14.5 Correlation between global FTK growth and statistical indicators 322
Tables

1.1 International world cargo traffic by type of service, 1999,

2008, 2009 and 2015 4
1.2 World cargo traffic, domestic services, 1999, 2008,
2009 and 2015 5
1.3 EU air cargo tonnes carried, 2016 vs 2006 8
1.4 Freight tonne-kms by region of airline
registration/domicile, 2016 9
1.5 Air freight throughput for top 10 world airports, 2016 13
1.6 Top 10 international airports and their hub carriers (2016) 15
1.7 Traffic breakdown at Amsterdam Schiphol hub airport 15
1.8 Cargo load factors: IATA member airlines, 2016 19
1.9 Published freighter flights from Europe to Asia, January 2010 21
1.10 Integrator and cargo jet flights from East Midlands to Western
Europe, March 2017 22
2.1 EU air freight imports by commodity type 2016 28
2.2 EU air freight imports 2016 – machinery, transport
equipment, manufactured articles 28
2.3 EU air freight imports 2016 – agricultural products and
live animals 30
2.4 EU air freight imports 2016 – chemicals 33
2.5 US Civil Reserve Air Fleet (CRAF) allocations, January 46
3.1 Air services agreements and cargo provisions 1980 to 2005 66
3.2 Analysis of ASAs in APEC countries, 2005 73
4.1 Scheduled air freight by type of carrier, 2016 84
4.2 Top 10 international cargo airlines, scheduled international
FTK, 2016 86
4.3 World low cost carrier cargo acceptance policy (examples) 88
4.4 Factors impacting on cargo airlines’ location decision 93
4.5 Systemwide air freight by non-integrated all-cargo carrier, 2016 94
4.6 Top 10 US airlines by total FTKs carried, 2013 98
4.7 Top 10 European airlines by total FTKs carried, 2016 100
4.8 Top 10 Asia-Pacific airlines by total FTKs carried, 2016 102
4.9 Top 10 Middle East/Africa airlines by total FTKs carried, 2016 104
xii Tables
4.10 Top 10 South and Central American airlines by total FTKs
carried, 2016 104
5.1 International air freight by integrator 2007–2015 114
5.2 Total international express market volume in 2013 114
5.3 Deutsche Post world total revenue by division (€m) 116
5.4 DHL shareholdings in airlines, 2016 117
5.5 Global air freight tonnage by top ten forwarders, 2016 122
7.1 Top 10 most popular jet freighters (factory-built and converted) 145
7.2a Standard body: factory-built freighters 146
7.2b Standard body: converted freighters 147
7.3a Medium wide-body: factory-built freighters 148
7.3b Medium wide-body: converted freighters 148
7.4a Large wide-body: factory-built freighters 149
7.4b Large wide-body: converted freighters 150
7.5 Current and planned conversion programmes 155
7.6 Maximum available payload for lower deck cargo on
wide-body passenger aircraft 157
7.7 Payload and fuel burn comparison B747-400pax vs B747-400F:
Frankfurt-Atlanta 160
7.8 Comparison Frankfurt–Sao Paulo non-stop and with fuel stop
on Ilha do Sal 161
8.1 Hactl Super Terminal 1 at Hong Kong airport 182
8.2 DHL Express hub at Leipzig/Halle Airport 183
8.3 Major third-party cargo handling companies 2017 186
9.1 Air freight rate structure for UPS, May 2017 206
10.1 US cents yield per RTK by type of service, 2013 214
10.2 Lufthansa forecasts of yield by type of cargo (€ per kg), 2003 215
10.3 German air freight price index by destination region
(selected years; 2010 = 100) 216
10.4 Product portfolio of an all-cargo carrier – example: Cargolux 220
10.5 Charges reduced by consolidation 221
11.1 ICAO reporting form for collection of financial data, part 1 233
11.2 Fuel efficiency and cost for large wide-body freighters 238
11.3 Cargolux asset depreciation policy, 2015 239
11.4 Freighter values (US$ million), May 2015 240
11.5 Cargolux operating cost breakdown, 1999, 2008 and 2015 241
11.6 FedEx operating cost trends by cost item, 1998 to 2014 242
11.7 Operating costs for typical transpacific route, 2014 245
11.8 Atlas Air segment contributions, 2016 247
11.9 Costs assumed by lessor/charterer 248
12.1 Standalone freighter aircraft companies, FY2016 253
12.2 NCA route development, 1985 to 2000 256
12.3 Key Federal Express highlights 264
12.4 FedEx Express fleet, end May 2017 266
12.5 Federal Express fleet productivity, 2016 267
 Tables xiii
12.6 Lufthansa Cargo financial and operating data, 2006 and 2016 269
12.7 Lufthansa Cargo operating cost breakdown, 2008 and 2016 270
12.8 Singapore Airlines load factors by product and type of flight,
2015–2016 271
12.9 SIA Cargo financial and operating data, 2005/06 to 2016/17 271
13.1 Freighter flights by region of major airline base, 2002 283
13.2 Global aviation fuel used by type of flight, 2002 284
13.3 US operator jet freighter aircraft, estimated fuel consumption,
2016 285
13.4 CORSIA implementation timeline 296
14.1 BAA forecasts of air cargo tonnes with and without Terminal 5 309
14.2 FAA air cargo traffic (ton-mile) forecasts, 2016–2037 310
14.3 Boeing air cargo forecasts (RTKs), average annual change 316
14.4 Airbus air cargo forecasts (RTKs), average annual change 316
14.5 Boeing and Airbus jet freighter aircraft delivery forecasts 317
14.6 Comparison of long-term forecasts 318
Foreword

Although the first movement of cargo (air mail) was accomplished in the very
early part of the 20th century and commercial lifts have been in existence since
then, it was the great Berlin Airlift in 1948 that established air as a viable major
mode of cargo transportation. Since then there has been a developing focus on
moving goods by air. From bulk loaded airplanes to the development of
containerised movement, both in air and ocean, the way cargo is transported
changed over time.
Air cargo, in its early stages, was a very expensive mode of transportation
and generally only very urgent shipments were effected by air. Thanks to the
United States’ Airline Deregulation Act of 1978, competitive factors continued
to play and movement by air for cargo started becoming more and more
affordable. Since global trade was more directional in the pre-globalisation era,
empty legs made the rates more competitive in the hopes of catalysing new
business from other modes of transportation. The sea/air movement from the
Far East to Europe was a direct result of this.
With the start of the globalisation of trade and manufacturing in particular,
where raw materials were moved into lower cost production facilities in China
and other Far Eastern countries, commenced an emphasis on developing the
science of supply chain operations and management. Suddenly logisticians
were looking at the overall cost efficiency of the integral cost of the entire
supply chain operation instead of individual cost elements. This highlighted
the fact that when time, cost of capital and return on investment were
concerned, the higher cost of air cargo actually added better cost efficiency to
the end product. It was further boosted by the evolution in inventory manage-
ment and the passing of cost of inventory to the vendor. In an extremely
globalised world and a competitive global market, speed to market and first
mover advantage coupled with the efficiency of supply chain management
became the thin line between profit and loss. Evolution in technology and the
resultant shorter life cycles of products led to inventory not being produced
until it was required: components and end products had to either be moved to
production lines or to consumers in the shortest possible time. This was great
news for the movement of trade and goods by air and the sea/air movements
also became part of the just-in-time logistics.
 Foreword xv
IATA’s campaign “air cargo makes it happen” continues to ring so true
today. Despite the fact that dynamics of air cargo have dramatically changed in
the last decade, they continue to evolve at a frenetic pace. . .. e-commerce has
opened up a whole new channel of retailing which has truly changed customer
behaviour. Today, online buying is as common as going to the neighbourhood
grocer was in the early part of the 20th century. e-tailers like amazon.com and
Alibaba have further changed the rules of engagement by promising deliveries
to consumers within hours of their buying. Those who control efficient last
mile deliveries have become the winners with air cargo now becoming a part
of their middle mile operation. The efficiency of the first and last mile depends
largely on the middle mile operation, be it by air, land or sea. Since time has
become firmly integrated with the other three dimensions, it benefits from the
fluidity of demand and supply.
Changing dynamics means that everything that goes into the handling of air
cargo must evolve in order to be able to maximise the efficiency of the
process. Everything from ground handling equipment to aircraft has to
evolve. Today’s warehouses and processes are significantly different from
what they used to be a couple of decades ago. No matter how these evolve,
the basic concepts remain the same. Some parts of the handling are belt and
braces and will remain as such despite automation, e.g. offloading from a
transport vehicle, building/offloading of pallets and containers etc. Bringing
efficiency into these processes will depend on how information is moved
about. Information technology will be core to all aspects of logistics. Embra-
cing virtual and augmented reality will be vital to bringing further efficiencies
in the handling process. Digitisation will be key to success.
On the aviation side, today’s traditional freighters will transition from
manned to unmanned air vehicles (UAV). This will require massive changes
in the way airports operate, especially from the civil aviation/air traffic control
(ATC) aspects. The initial large UAV will operate just like traditional airplanes
with industry standard pallets and containers (ULD). Hence, standard ground
service equipment will suffice to handle them. The main changes will be in the
flight operations area.
As technology and processes evolve in the future, though certain principles
will remain the same, the new processes and the basic fabric will evolve to
embrace the changes that the disruptions of tomorrow will bring about.
Aircraft and airlines operate within the strictest of regulatory environments.
Every aspect of ground handling has an air safety element. Large portions of
the total air cargo movements happen on wide-body combination aircraft
which carry passengers on the upper deck and baggage and cargo in the belly
of the aircraft. Freighters tend to plough the high density trade routes.
In a combination operation, revenue from cargo contributes to the business
alongside passengers, whereas in a pure freighter operation, cargo is the only
source of income and this creates its own challenges in the market pricing.
Combination operations tend to be less sensitive to directionality of traffic than
freighters. The newly developing air cargo market place will further ease the
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xvi Foreword
procurement of air cargo transportation services making it all happen with a
few clicks on a website. It will be just like buying a cell phone online.
It is great to see that this book addresses the various complexities of air cargo
transportation and gives insights into every aspect of it. It is therefore truly a
must-study for those who want to make a career in purchasing, transportation
and logistics. The laymen will discover some of the stuff that happens behind
the scenes when they click ‘buy’ while purchasing their cell phone or
whatever they are buying online from their favourite e-tailer’s site.

Ram C. Menen FRAeS, FCILT

Retired aviation and air cargo executive,
former divisional senior vice-president cargo, Emirates,
past chairman, president and CEO, The International
Air Cargo Association (TIACA),
founding team member of Emirates and TIACA.
Preface

The first air cargo or air mail flight is a highly contentious issue. Mail is said to
have been first carried from Albany to New York in May 1910 and cargo first
carried from Dayton to Columbus, Ohio, in November of the same year. The
first flight by a hot air balloon carrying cargo (a cockerel, a sheep and a duck)
was much earlier. The third distinct type of traffic, air express, owes its rapid
development to the ending of the Railway Express Agency in 1975, a couple
of years after the founding of Federal Express. The Airline Deregulation Act of
1978 further removed any obstacles to the growth of air express operators such
as FedEx and UPS, at least within the US.
Air cargo is closely linked to international trade whose expansion has been
fostered by the removal of physical restrictions and the growth of commercial
opportunities through improved communications and international contacts. It
has benefited from freer transfers of funds, stability of exchange rates and easier
access to credit. Above all the reduction and removal of duties has also
encouraged the growth in trade, as has the outsourcing of manufacturing to
lower cost firms in other countries. However, the globalisation that this
implies was severely challenged following the banking crisis of 2008 and its
aftermath. Its impact on the global economy was more pronounced as a result
of the complex web of international outsourcing and subcontracting that had
been constructed. At the same time the vital availability of trade finance was
curtailed and trade and thus air cargo turned down sharply. Banks were forced
to cut lending and credit in the inter-bank markets almost dried up. Trade
credit was affected in addition to the sharp reduction in demand that was also
fuelled by a cutback in consumer debt. Recovery was slow and there has been
some evidence of switching supply to firms that are situated closer to home.
Air cargo also plays a key role in humanitarian aid. Air lift is provided by
both military and civil aircraft often through hostile airspace and to below
standard airports. Probably the most famous example of this was the Berlin
Airlift after the Second World War. In 1948, Berlin was jointly controlled by
the Allies and Russians, although the Russians held the area surrounding the
city and thus land access. This access was closed and hence an airlift remained
the only option to get increasingly urgent supplies of food, coal and other
supplies to what had become West Berlin. Over 330 days to 12th May 1949 a
xviii Preface
total of 2.26m tonnes of cargo were airlifted into Berlin, an average of 6,800
tonnes a day, 80% by the US and 20% by the UK. Almost three-quarters of
the payload was coal, vital in heating the city especially over the winter period.
The aircraft used were initially mostly C-47s with 3.5 tonnes of payload, but
these were gradually replaced with C-54s and Avro Yorks with 10 tonnes. An
assortment of other aircraft was also pressed into service. The peak day
involved a total of almost 13,000 tonnes supplied by 1,383 flights, an average
of 9.4 tonnes per flight. Only three runways were available and techniques had
to be developed for efficient loading, unloading and air traffic control. Main-
tenance had to be adapted to schedules that gave high utilisation with often
ageing planes. More recent examples of international aid have been in response
to the devastation caused by earthquakes or floods: here surface transport is
either too slow or impossible and air transport is the only means to supply food
and clothing to the homeless.
In spite of the importance of air cargo in international trade, aid and relief
operations, it has remained the poor cousin to the more glamorous passenger
side of the business. This has been reflected in the dearth of air cargo books,
with the topic usually dealt with as one chapter in books on air transport. It
also receives little attention in books on logistics and the supply chain. The
first edition of this book gave the industry its own comprehensive analysis of
air cargo. The second updates the first, as well as incorporating the key
changes that have occurred since then, as well as ideas and technology that
may shape the future.
Individuals and firms assume that income will continue to grow indefinitely
every year and economies will continue on their expansion path. Thus the
upswings of economic cycles are fuelled by spending and investment supported
by bank lending, whether for consumer credit or company debt. Bubbles
form, especially in popular sectors such as IT and housing. At some point
expansion can no longer be sustainable, the bubble bursts and the downturn
starts, triggered or reinforced by a world event or crisis, as well as high prices
and shortages of key inputs. As this gathers pace, investment plans are shelved,
consumers cut back spending and pay off some of their debt, and companies
start to build depleted cash reserves.
The air cargo business fits this story well, with the pattern driven more by
international trade and inventory levels than GDP alone. With increased
outsourcing of production to other countries, exports and imports become
more volatile: changes in final demand impact inventory levels which lead to a
multiplier effect on trade from decisions made by exporters and importers of
intermediate goods. This seems to affect air trade more than other modes of
transport since consumers often cut back first on the hi-tech goods that are
shipped by air. In the upward part of the cycle, airlines invest in new and
especially converted freighter aircraft, the extra capacity justified by forecasts
that often disregard the expansion plans of others. Where these are taken into
account an increased market share is assumed, but then the assumption on
yields may not be realistic. Many airlines have ordered aircraft towards the end
 Preface xix
of the upturn and delivery and final payments are timed to coincide with the
bottom of the downswing when no airline needs the capacity, causing further
financial distress and perhaps bankruptcy. Airlines invest in other airlines on
the basis that they need to position themselves in emerging markets, for
example China. Forwarders and integrators strive to become more ‘global’ by
buying the pieces of the jigsaw that they lack. These decisions, unlike aircraft,
are more likely to be justified by long-term trends, and a short duration
downswing has to be suffered to gain longer-term expansion and profitability.
This is the background to the world of air cargo which this book intends to
examine in some detail.
Most recently the global banking crisis that gathered pace in the middle of
2008 had a dramatic impact on international trade and thus air trade. While
this book looks at the evolution of the air cargo industry over a much longer
period, the recent downturn gets perhaps a disproportionate amount of space.
This is not just because it is still in most readers’ memories but because it is a
convenient time to take stock of how the various participants have reacted and
fared.
The challenge of air cargo is that it offers a premium product that competes
with surface transport on the basis of speed and reliability. However, the
average time for consignments to reach their final destination is around five
days of which only 20–25% is accounted for by the flight time. The rest is
attributed to delays in ground handling, customs inspection and collection.
Passengers are often referred to as ‘self loading freight’, and while they some-
times challenge the seat they are allocated they do not have the very different
weights, shapes and sizes of goods and documents. These can also change
shape, such as when several parcels are combined into a single pallet, and they
can have different requirements in terms of speed of delivery, security and
point of delivery. They can have very different distance characteristics ranging
from domestic to cross-border to intercontinental.
Shorter supply chains mean less need for shipping or shorter distances and
may involve only surface transport. On the other hand, e-commerce will
continue to grow and faster premium forms of transport will be needed.
Technology may play a greater role through the commercialisation of drones
which could provide shorter delivery times than are possible by road or rail.
These challenges and others will be explored in the following chapters, some-
times contrasting cargo with the passenger side of the business, sometimes
comparing it with surface transport modes.
Acknowledgements

With this book, the authors intend to link relevant academic research with
day-to-day practice in the air cargo industry. This would not be possible
without the input of professionals at airlines and other participants in the global
supply chain. The authors wish to thank all those who answered questions and
provided insights into their respective business areas to ensure that the present
book achieves the required relevance for both an academic and industry
audience.
First and foremost the authors wish to thank to Ram Menen for writing the
foreword to this book. Ram developed Emirates SkyCargo from its inception
into the number one cargo carrier worldwide; now, having retired from his
position at Emirates, he actively follows and promotes the newest trends in the
industry.
Another word of thanks should go to Tom Crabtree from the Boeing
Company for his permission to use data from the Boeing World Air Cargo
Forecasts and for giving insight into a manufacturer’s perspective of the air
cargo industry.
A book like this would be nothing without data. Therefore, the authors
wish to thank Marco Bloemen from Seabury Consulting for his permission to
use data from the Seabury Trade database for underlying analyses of commod-
ity flows and modal choices.
Furthermore, the authors would like to thank Ali Malik from the IATA for
his permission to use data from the IATA World Air Transport Statistics
(WATS), a highly useful dataset for benchmarking the operations and perfor-
mance of airlines.
Abbreviations

ACMI Aircraft, crew, maintenance and insurance

ACC3 Air cargo or mail carrier operating into the (European) Union
from a third country airport
AEA Association of European Airlines
AOC Air Operator’s Certificate
APEC Asia-Pacific Economic Cooperation
AWB Air waybill
ASA Air services agreement
ATA Air Transport Association of America (now Airlines for
America)
ATK Available tonne-kilometres
CLI Composite leading indicators (OECD)
CCS Cargo Community System
CEO Chief executive officer
CTK Cargo tonne-kilometres
Cargo-IMP Cargo interchange message procedures
CASS Cargo Accounts Settlement System (IATA)
CMV Current market value
CSC Cargo services conference
CPA Capacity purchasing agreement
e-AWB Electronic air waybill
EASA European Aviation Safety Agency
ECAC European Civil Aviation Conference
EEA European Economic Area
EDI Electronic data interchange
EZFW Estimated zero fuel weight
FAA Federal Aviation Administration
FF Freight forwarder
FFA Freight Forwarders Association
FWB Forwarder air waybill
GATS General Agreement on Trade in Services (WTO)
GCA Guaranteed capacity agreement
GDP Gross domestic product
xxii Abbreviations
GHA Ground handling agent
GSA General sales agent
HAWB House air waybill
IATA International Air Transport Association
ICAO International Civil Aviation Organization
IPCC Inter-Governmental Panel on Climate Change
IRR Internal rate of return
JAR Joint Airworthiness Requirements (EASA)
KPI Key performance indicator
LTL Less than truck load
MALIAT Multilateral Agreement on International Air Transport
MAWB Master air waybill
MTAW Maximum taxi weight
MTOW Maximum take-off weight
MZFW Maximum zero fuel weight
NPV Net present value
OAG Official Airline Guide
OECD Organisation for Economic Co-operation and Development
PAX Passenger
RCS Ready for carriage shipment
RFID Radio frequency identification
RFS Road feeder service
RM Revenue management
RTK Revenue tonne-kilometres (also RTKM)
SLA Service level agreement
SSC Security surcharge on air freight rates
T or t Metric tonne
TACT The Air Cargo Tariff (IATA)
TIACA The International Air Cargo Association
TDC Total distribution cost
TEU Twenty-foot equivalent unit
TSA Transportation Security Administration
UAV Unmanned aerial vehicle, also referred to as drone
ULD Unit load device, usually either a pallet or container
UNCTAD United Nations Conference on Trade and Development
VAN Value added network
WACC Weighted average cost of capital
WATS World Air Transport Statistics (IATA)
WCO World Customs Organization
WFP World Food Programme
WTO World Trade Organization (formerly GATT)
ZFW Zero fuel weight

Sources: IATA, AEA and ICAO

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 Medicine - Study Cards
Fall 2021 - Program

Prepared by: Professor Garcia

Date: August 12, 2025

Lesson 1: Theoretical framework and methodology

Learning Objective 1: Current trends and future directions
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 1: Diagram/Chart/Graph]
Learning Objective 2: Best practices and recommendations
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Learning Objective 3: Best practices and recommendations
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Learning Objective 4: Best practices and recommendations
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 4: Diagram/Chart/Graph]
Learning Objective 5: Historical development and evolution
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Important: Comparative analysis and synthesis
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Current trends and future directions
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Research findings and conclusions
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Theoretical framework and methodology
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 9: Diagram/Chart/Graph]
Important: Best practices and recommendations
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 10: Diagram/Chart/Graph]
Results 2: Historical development and evolution
Example 10: Critical analysis and evaluation
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Key terms and definitions
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Assessment criteria and rubrics
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 13: Study tips and learning strategies
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 14: Diagram/Chart/Graph]
Remember: Comparative analysis and synthesis
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Problem-solving strategies and techniques
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Current trends and future directions
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Key Concept: Literature review and discussion
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 18: Diagram/Chart/Graph]
Key Concept: Fundamental concepts and principles
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Important: Interdisciplinary approaches
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 20: Diagram/Chart/Graph]
Background 3: Literature review and discussion
Important: Key terms and definitions
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Historical development and evolution
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Practice Problem 22: Best practices and recommendations
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Problem-solving strategies and techniques
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Key Concept: Best practices and recommendations
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Interdisciplinary approaches
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 26: Diagram/Chart/Graph]
Practice Problem 26: Literature review and discussion
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Historical development and evolution
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 28: Theoretical framework and methodology
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Key Concept: Comparative analysis and synthesis
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 30: Diagram/Chart/Graph]
Section 4: Key terms and definitions
Practice Problem 30: Assessment criteria and rubrics
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Ethical considerations and implications
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Practical applications and examples
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 33: Diagram/Chart/Graph]
Remember: Case studies and real-world applications
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Definition: Fundamental concepts and principles
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Interdisciplinary approaches
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Important: Problem-solving strategies and techniques
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 37: Ethical considerations and implications
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Remember: Study tips and learning strategies
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Example 39: Assessment criteria and rubrics
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Discussion 5: Comparative analysis and synthesis
Remember: Assessment criteria and rubrics
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Important: Problem-solving strategies and techniques
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Example 42: Comparative analysis and synthesis
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Problem-solving strategies and techniques
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Statistical analysis and interpretation
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 45: Diagram/Chart/Graph]
Example 45: Problem-solving strategies and techniques
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 46: Diagram/Chart/Graph]
Definition: Practical applications and examples
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 47: Diagram/Chart/Graph]
Example 47: Experimental procedures and results
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Key terms and definitions
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Key Concept: Key terms and definitions
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Summary 6: Research findings and conclusions
Note: Critical analysis and evaluation
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Best practices and recommendations
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Ethical considerations and implications
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 53: Interdisciplinary approaches
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Best practices and recommendations
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Example 55: Statistical analysis and interpretation
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Case studies and real-world applications
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Learning outcomes and objectives
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Note: Statistical analysis and interpretation
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Practice Problem 59: Critical analysis and evaluation
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
References 7: Experimental procedures and results
Example 60: Best practices and recommendations
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Example 61: Ethical considerations and implications
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Experimental procedures and results
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 63: Historical development and evolution
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 64: Interdisciplinary approaches
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Experimental procedures and results
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 66: Comparative analysis and synthesis
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 67: Practical applications and examples
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 68: Comparative analysis and synthesis
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Ethical considerations and implications
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Part 8: Experimental procedures and results
Remember: Experimental procedures and results
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Interdisciplinary approaches
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 72: Diagram/Chart/Graph]
Important: Experimental procedures and results
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 73: Diagram/Chart/Graph]
Remember: Critical analysis and evaluation
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Learning outcomes and objectives
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 75: Fundamental concepts and principles
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Problem-solving strategies and techniques
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Ethical considerations and implications
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 78: Diagram/Chart/Graph]
Remember: Historical development and evolution
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Historical development and evolution
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Appendix 9: Practical applications and examples
Practice Problem 80: Research findings and conclusions
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 81: Diagram/Chart/Graph]
Example 81: Literature review and discussion
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 82: Diagram/Chart/Graph]
Key Concept: Experimental procedures and results
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Best practices and recommendations
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Experimental procedures and results
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Note: Key terms and definitions
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Example 86: Statistical analysis and interpretation
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Important: Learning outcomes and objectives
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Interdisciplinary approaches
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Practice Problem 89: Experimental procedures and results
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Abstract 10: Critical analysis and evaluation
Remember: Learning outcomes and objectives
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 91: Diagram/Chart/Graph]
Note: Study tips and learning strategies
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Example 92: Comparative analysis and synthesis
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Case studies and real-world applications
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 94: Diagram/Chart/Graph]
Practice Problem 94: Literature review and discussion
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Experimental procedures and results
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 96: Statistical analysis and interpretation
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 97: Best practices and recommendations
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Key Concept: Practical applications and examples
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Problem-solving strategies and techniques
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Part 11: Experimental procedures and results
Important: Literature review and discussion
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Case studies and real-world applications
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 102: Diagram/Chart/Graph]
Example 102: Ethical considerations and implications
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Theoretical framework and methodology
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Current trends and future directions
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Research findings and conclusions
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Problem-solving strategies and techniques
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 107: Diagram/Chart/Graph]
Practice Problem 107: Critical analysis and evaluation
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Remember: Critical analysis and evaluation
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 109: Diagram/Chart/Graph]
Practice Problem 109: Practical applications and examples
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Quiz 12: Literature review and discussion
Definition: Fundamental concepts and principles
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
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