Dutch Journal of Finance and Management

Dutch Journal of Finance and Management, 2023 - Volume 6 Issue 2, Article No: 25209
https://doi.org/10.55267/djfm/14129

Published Online: 30 Dec 2023

Views: 239 | Downloads: 204

One of the significant challenges facing the aviation sector is the management of risks arising from its flight operations, especially in the approach and landing phases, where pilot experience and training are of great importance and where the most significant incidents for air safety occur. Therefore, this paper proposes a model inspired by the structure of a Fuzzy ELECTRE model for managing the operational risks that arise in the approach and landing phases that can lead to safety events. Thanks to the analysis of the literature collected, the management criteria and risk parameters to be taken into account for these two flight phases were shown following air safety manuals such as the International Civil Aviation Organization (ICAO) manual, and where the data obtained was obtained qualitatively thanks to the implementation of surveys with expert pilots, whose information served as the primary input for the characterisation of risks. Following the structure of the proposed model, five (5) reference risk scenarios management were constructed using the previous information, and an analysis of the dominance and discrepancy of a risk scenario vs. the previously established reference scenarios was carried out. Finally, it can be concluded that the proposed model allowed the quantitative-qualitative characterisation for managing the most relevant risks in the approach and landing phases, integrating the expertise of experts in this area.

Data analysis Management Risks Operational risks Aviation safety Approach and landing phases Fuzzy Electre model

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