Airlines follow different strategies of aircraft sourcing and financing. Basic decisions
include the choice of buy versus lease and long term versus short term acquisition of aircraft.
Additional fleet and fleet planning characteristics include the desired fleet size average
aircraft age or possible surplus in capacity. Do these variables have an impact on financial
success? Taking the perspective of a shareholder the author uses multivariate regression
methodology to evaluate abnormal returns in stock market's reaction to the terrorist attacks on
September 11 2001 the Financial Crisis 2008 and to aircraft accidents and aircraft orders
1994-2009. In further regression analyses the relationship of fleet variables to a company's
revenue growth and profitability is examined. Potential readerships include researchers and
practitioners with interest in how decisions could be taken in favor of shareholders in an
aircraft fleet planning context.
