搜索
TigerairwaysMember:任飞儿曹旭雪杨洋迟贻丹吴思雯Outline•Introduction•Valueadded•PriceelasticityofDemand•CrossElasticityofDemand•IncomeelasticityofDemand•SupplyandSupplyelasticity•SuggestionIntroduction•TigerAirwaysSingaporeiscalledTigerairwhichwasincorporatedon12December2003.Itisalow-costairlineheadquarteredinSingapore.ItoperatesservicestoregionaldestinationsinSoutheastAsia,Australia,ChinaandIndiafromitsmainbaseatSingaporeChangiAirport.Valueadded•1.Meaning:•Valueaddedisafirm’srevenueminuswhatitpaidforintermediategoods.Itusuallymeasuresvaluecreatedbyeconomicactivity.•Therefore,it’saveryimportantstandardtojudgeofthedevelopmentofacompany.2.Howtocalculatevalueadded?•FormulaValueadded=revenue-costofintermediategoods附加价值=销售收入一外部购入价值部分3.revenueandcost•Revenue:•Tigerair’srevenueusuallycomesfromsellingairlinetickets,carriage,foodandbeverageandextraservices.•ThoughTigerairisalow-costairline,ticketsarestillabigpartofrevenue.Costofintermediategoods•Labor:•LaboristhelargestsinglecategoryofcostsforTigerairwhichismadeupmorethan30percentoftotalcosts.AircraftFuel•Fuelisthesecondhighestcategoryofcostsfortheairlines.Itmaymakeupabout15percentofanairline’scost.Butinyearsinwhichfuelcostsareveryhigh,suchas2007,fuelcanmakeupover30percentofairlineoperatingcosts.•Therefore,theswinginfuelpricescanhaveimportantimpactsontheprofitabilityoftheairlinebusiness.Equipment•Therearethreebasictypesofaircraftinairlineindustrywhichareturbopropaircraft,single-aislejets,andtwin-aislejets.Theairlinesbuymanyoftheiraircraftoutright,eithernewaircraftfrommanufacturersorusedaircraftfromotherairlines.•AsforTigerair,itboughtnewA320aircraftfrommanufacturers.Becausesingletypeofaircraftcandecreasethecosts.Maintenance•Airlinesusuallyperformtheirownmaintenanceontheiraircraftorbuymaintenanceservicesfromotherairlinesormaintenancecompany.•TigerairbuysmaintenanceservicesfromSingaporeChangiAirport,GuangzhouBaiyunInternationalAirport,MacauInternationalAirportandothers.AirportLandingandOtherFees•OutsidethebaseinSingapore,Tigerairneedtopaysubstantialfeestorentairportfacilitiesfortheirairportandtorentterminalfacilitiesforpassengerticketing,baggagehandling,andaircraftboarding.•Itmustalsopayairportlandingfees,whicharebasedontheweightoftheaircraft.•Besides,Tigerairneedtopaytaxestogovernment.OtherOperatingExpenses•Tigerair’slargecatch-allcategoryof“otheroperatingexpenses”includesinsuranceexpenses,securitycosts,crewtravel,andmanyothercostsofoperating.4.PositiveorNegative?•Valueaddedisalmostpositiveforthepurposetomakeprofits.•Thesituationswithnegativevalueaddedarerarebutnotimpossible;theyexistedinnon-marketeconomies,suchastheformerSovietUnion,whereprofitcalculationswererarelymadeanddecisionswereoftennotbasedontheprofits.•Thesesituationscanalsopersistwhendecisionmakersdonotrecognizeallcosts,forexample,whentherearesubstantialnegativeeffectsontheenvironment.•Whenvalueaddedisnegative,itshowstheairlineisproducingoutputworthlessthanthevalueofitsintermediateinputsalone.PriceelascityofDemandTheory:Ameasureoftheresponsivenessofthequantityofagooddemandedtoachangeinthegood'sprice.Quantity:PassengernumbersPrice:PassengerseatrevenueAveragepassengerfares=passengernumberstheelasticityis:2.411→elasticFY-10theelasticityis:7.51→elasticFY-11Priceelasticityofdemandis:0.81→inelastic20102.41elastic20117.5elastic20120.81inelasticTheory:Ameasureoftheresponsivenessofthequantityofonegooddemandedtoachangeinanothergood’sprice•comparedairline:TigerairAirAsia---Ithasbeennamedastheworld'sbestlow-costairlineCrosselasticityofdemandFinancialYear11-12Results“TigerAirAirAsia2010-2011thecrosselasticityofdemand(betweenTigerairandAirAsia)≈1.75TigerairandAirAsiaaresubstitutes.2011-2012thecrosselasticityofdemand(betweenTigerairandAirAsia)≈—0.61TigerairandAirAsiaarecomplements.8/15/2019Whytheyaresubstitutes•TheyarebothlowcostAircompany.•TheymainlyfocusonAsiamarketwhichresultinsimilarroutes.•Theirexpansiontargets,includingChina,aresimilar.•Theyarebothsupportedbygovernment..ThepriceofAirAsiakeepincreasingfrom2009to2012.ThepassengersofTigerAir(Thousand):3,167(09)→4,872(10)→5,968(11)→5,462(12)crosselasticityofdemand=%∆quantity%∆anothergood'sprice4GroundedEventinAustralia•1)Reason:TheflightheightofTigerairplanebelowtheminimumheightallowedbyrulestwiceintwoweeks.•2)Punishment:ItsAustralia'sdomesticrouteswereorderedtogroundedformorethanamonth(2011.7.2~8.10)byCASA(CivilAviationSafetyAuthority).•TheincidentgotaseriouseffectonTigerairreputation.Thisaccidentleadedtotheconsumerloss.Ourresultsofelasticityarecalculatedinanpureformulawaywithoutsomerealityelements.Whenfindingthedataflowingbyawidemargin,“quantity”and“price”arenottheonlyunchangeablereason.Wecancombinewithmanyotherparts.Otheranalysisangle:•wholemarketenvironment:developmentoftravelindustryispositive/negative•Nationalincidents:politicalincident(ElectionsinPhilippines)/armedactivity(RebelsinThailand)/Olympicgame•Airpolicy.•materialexpense:higherfuelprice/repaircosts•SubsidiarymanagementTigerAirmaincostumergroupinAsia•ManyAsiacountrieswelcometigerairjointheirtransportationfamilyinclu