Airline Finance

"Airline Finance, 5^th edition, provides down-to-earth practical examples that enable students to work through and understand the various aspects of the syllabus. The book is easy to read and follow; a great advantage for international students who want to pursue careers in the air transport industry. I will use it extensively for my new graduate course on air transport finance."
Professor Cherie Lu, Department of Aviation and Maritime Transportation Management, Chang Jung Christian University, Taiwan.

"The fifth edition of Dr Peter Morrell's Airline Finance provides an expert update to what is the go-to book for those looking to understand the complex world of aviation finance. Dr Morrell provides useful, interesting and relevant insights using real-world examples taken from airlines' annual reports, and expertly guides the reader in understanding how it all fits together. An impressive achievement."
Patrick Healy, Chairman of Cathay Pacific Airways Ltd

"I strongly recommend this updated edition of Airline Finance for any student of airline management, analysts of the industry and for those managing or regulating airlines - who really need to understand what airline financial statements show or what different financing structures mean. This is an excellent guide for those involved in, or fascinated by, the airline industry. It is not an academic text nor is it a manual of how to finance an airline. Instead, the descriptive style of writing and extensive use of good examples from the industry paints a clear and insightful picture for the reader of what could be dry accounting or finance theory. But in addition to enabling the non-specialist to interpret the numbers in an airlines balance sheet or cash flow statement, practical issues for management or regulators such as privatization, risk management, valuing assets are all covered in a way that illuminates the key issues for decision makers. This latest edition incorporates recent developments in issues such as consolidation, lease accounting and the innovative use of assets to back financing. The chapter on privatization has been retained - a wise decision given the extensive increase of Government involvement in airlines across the world as a result of the COVID-19 pandemic. There will need to be extensive restructuring of the industry after the crisis, so this new edition of Airline Finance should be a key resource for many."
Brian Pearce, Chief Economist, International Air Transport Association (IATA)