Assignments

A small selection of our Research, Consultant and Advisory assignments

Research

  • A study for the UK CAA examining the strategic importance of London in terms of air travel
  • Examined the prospects for the developers of a new regional aircraft
  • Reviewed where a major low-cost airline would deploy its future fleet
  • Examined the prospects for a distressed regional airline
  • Identified potential buyers for a significant minority stake in a national airline and determined the likely value
  • Undertook a number of economic impact studies generally, but not always, to consider the consequences of a national airline failing
  • Modelled economic and traffic outcomes under a range of assumptions for airports
  • Undertook all of the modelling and the production of the report, for a major UK airline challenging Heathrow’s assumptions and outcomes in respect of its commercial revenues (and the consequences for the aeronautical charges) for the Q6 charging period

Consulting

  • Identified the opportunities in terms of new operators and routes and the value arising for a regional airport
  • Acted for an airline reviewing a particular M&A option (where a key element was on how traffic would be distributed and developed at the two airlines’ hubs)
  • Multiple assignments for an airline client ranging from evaluation of fleet strategy to presale valuation
  • Assessment of market position and competitive challenges for an airline Board
  • Determined and evaluated the potential for a low-cost short haul airline to operate in the long-haul market from route identification, aircraft selection, to frequency and time tables
  • Undertook a fleet evaluation and renewal exercise for a European LCC
  • Turnaround programme for a European leisure airline
  • Developed plan for a Gulf airline to set up a dedicated airline for the sub-continent
  • Reviewed the outlook for a key operator at an airport and the likely outcomes if it was to cut back its operations or fail and the consequences for traffic
  • Reviewed and challenged the traffic forecasts of a major Gulf hub
  • Various airport traffic forecast review and validation studies
  • Reviewed and determined the likely outcomes of the strategy of the key operator at a major European hub for the airport owner before they committed to expanding the airport
  • Identified route opportunities from competing airports for an airline client
  • Studies for airlines looking to either dispose or acquire slots involving the valuation and the identification of the counterparty for the trade
  • Study for lawyers and accountants on a number of slot trades over time including identifying buyers and sellers and definitive values
  • Subject matter expert on the development of an economic impact study (at sub-sector level) of investment in the aviation sector at a country level
  • Development of aviation strategies (route and airline identification) and conditions for success at a regional and airport level (various studies)
  • Major review of airport technology by airport and region

Advisory

    • Retained by the owners to identify the key value drivers of an airport and provide the key
      arguments for the sale memorandum as well as taking a view on its likely value
    • Acted as advisor to a UK parliamentary committee examining the provision of air services to Northern Ireland
    • A member of a team to provide advice to the UK CAA in respect of aviation industry issues during the development of the conclusions for the Q5 charging period
    • Advisor to the Cabinet on the Royal and Ministerial Air Travel Review
    • Acted in the role as an independent/expert witness for Gatwick Airport to review and give views and opinions on the work and outcomes reached by the UK Airport’s Commission
    • Acted for an airline challenging the anti-competitive behaviour of an airport to develop the economic arguments and also quantifying the degree of damage suffered
    • Acted as the economist in developing a new economic regulatory system to determine the relevant arguments, necessary conditions, objectives and background against which the legal team drafted the regulations for airports, air carriers, ground handlers and ANSPs
    • Acted as an expert witness in a major arbitration case involving the performance of multiple airlines over a long period of time
    • Acted for an airline grouping to challenge the introduction of a fare cap
    • Acted as an expert witness in a significant commercial dispute in the civil aerospace sector
    • Acted as advisor to the chairman of an airline as it prepared for an IPO and then subsequently on a range of assignments around future options following its flotation when it was bid for
    • Acted for an airline to identify most likely alliance partner that might then acquire it
    • Acted in a number of cases to identify strategic/investment partners for individual airlines and to evaluate the options, taking a view on valuation and in particular strategic valuation
    • Provision of advice on a range of strategic issues for a number of airlines
    • Provision of advice to an airline considering offering corporate/private jet connections beyond its main hub
    • Retained by a Civil Aviation Authority to develop and apply a financial fitness test for an ATL applicant and then to monitor the performance of the airline.