Profit maximizationIn economics, profit maximization is the short run or long run process by which a firm may determine the price, input and output levels that will lead to the highest possible total profit (or just profit in short). In neoclassical economics, which is currently the mainstream approach to microeconomics, the firm is assumed to be a "rational agent" (whether operating in a perfectly competitive market or otherwise) which wants to maximize its total profit, which is the difference between its total revenue and its total cost.
AirlineAn airline is a company that provides air transport services for traveling passengers and/or freight. Airlines use aircraft to supply these services and may form partnerships or alliances with other airlines for codeshare agreements, in which they both offer and operate the same flight. Generally, airline companies are recognized with an air operating certificate or license issued by a governmental aviation body. Airlines may be scheduled or charter operators. The first airline was the German airship company DELAG, founded on November 16, 1909.
Regional airlineA regional airline is a general classification of airline which typically operates scheduled passenger air service, using regional aircraft, between communities lacking sufficient demand or infrastructure to attract mainline flights. In North America, most regional airlines are classified as "fee-for-departure" carriers, operating their revenue flights as codeshare services contracted by one or more major airline partners. A number of regional airlines, particularly during the 1960s and 1970s, were classified as commuter airlines in the Official Airline Guide (OAG).
Aviation safetyAviation safety is the study and practice of managing risks in aviation. This includes preventing aviation accidents and incidents through research, educating air travel personnel, passengers and the general public, as well as the design of aircraft and aviation infrastructure. The aviation industry is subject to significant regulation and oversight. Aviation security is focused on protecting air travelers, aircraft and infrastructure from intentional harm or disruption, rather than unintentional mishaps.
Air FranceAir France (ɛːʁ fʁɑ̃s; formally Société Air France, S.A.), stylised as AIRFRANCE, is the flag carrier of France headquartered in Tremblay-en-France. It is a subsidiary of the Air France–KLM Group and a founding member of the SkyTeam global airline alliance. , Air France serves 29 destinations in France and operates worldwide scheduled passenger and cargo services to 201 destinations in 78 countries (93 including overseas departments and territories of France) and also carried 46,803,000 passengers in 2019.
Profit (economics)In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs. It is equal to total revenue minus total cost, including both explicit and implicit costs. It is different from accounting profit, which only relates to the explicit costs that appear on a firm's financial statements. An accountant measures the firm's accounting profit as the firm's total revenue minus only the firm's explicit costs.
Robust statisticsRobust statistics are statistics with good performance for data drawn from a wide range of probability distributions, especially for distributions that are not normal. Robust statistical methods have been developed for many common problems, such as estimating location, scale, and regression parameters. One motivation is to produce statistical methods that are not unduly affected by outliers. Another motivation is to provide methods with good performance when there are small departures from a parametric distribution.
Thessaloniki AirportThessaloniki Airport , officially Thessaloniki Airport "Makedonia" (Kratikós Aeroliménas Thessaloníkis "Makedonía") and formerly Mikra Airport, is an international airport serving Thessaloniki, the second-largest city in Greece. It is located southeast of the city, in Thermi. The airport is the third-largest airport in the country after Athens International Airport and Heraklion International Airport. It opened in 1930 and was the second-busiest airport in Greece in terms of flights served and the third-busiest in terms of passengers served in 2016, with over 6 million passengers.
Robust regressionIn robust statistics, robust regression seeks to overcome some limitations of traditional regression analysis. A regression analysis models the relationship between one or more independent variables and a dependent variable. Standard types of regression, such as ordinary least squares, have favourable properties if their underlying assumptions are true, but can give misleading results otherwise (i.e. are not robust to assumption violations).
SimulationA simulation is the imitation of the operation of a real-world process or system over time. Simulations require the use of models; the model represents the key characteristics or behaviors of the selected system or process, whereas the simulation represents the evolution of the model over time. Often, computers are used to execute the simulation. Simulation is used in many contexts, such as simulation of technology for performance tuning or optimizing, safety engineering, testing, training, education, and video games.
