Question

1. Name and give the functions of two (2) international aviation organizations

2. Compare the two levels of forecasts in aviation

3. Differentiate economic feasibility from financial feasibility.

Answer 1

Solution 1

International Civil Aviation Organisations developed By UN is purposed at codification of protocols for international air navigation and fostering development and planning controls of air transport worldwide.

Even, International air Transport Association is framed towards formulation of industrial policy and standards in airline industry and act as Ombudsman to conflicts.

Solution 2

Two types of aviation forecasts including :

Firstly, Aerospace forecasts is developed towards identifying industry trends in future and dynamic policy framework which require scrutiny.

Secondly the Terminal Area forecasts is developed towards meeting budget, planning and development needs in aviation industry to grow substantially.

Solution 3

Economic feasibility checks the technical aspects of project like its durability and reliability as well as cost benefit analysis.

Financial feasibility measures the cash flow and potential profitability of project by taking into account ratios like IRR, ROE, ROI, ROCE.