Passenger demand has grown by over 4% per annum at UK airports since 2011 with 285 million passengers in 2017, setting a new national record. This is set to continue particularly with the London system facing significant demand pressures.
Our client, a major UK airport, engaged Steer to assess their long-term business plan to support capacity improvements.
Members of our aviation and business and financial modelling teams assessed the business plan on two fronts.
Firstly, we conducted a thorough review of the model being used to calculate the returns of the proposed investment. We used specialist software to identify any issues in the structure or methodology underpinning the model’s core calculations, including an in-depth review of the financial returns calculations driving the optioneering. We were able to combine our modelling expertise and financial knowledge to deliver valuable insights for the client.
Our expert team then reviewed the assumptions and results of the business plan model, to test whether these were plausible and consistent with the assumptions of airport management.
Successes and outcomes
Our review identified a number of risks and opportunities across the business plan and model structure, including a comparison to best practice modelling techniques. This gave the client confidence that their key decision-making tool was fit for purpose, and highlights areas for further investigation as the client continues to fine tune its plans to increase capacity at the airport.
In addition to this project, we have also undertaken a number of other similar assignments, including traffic and business plan assurance reviews for financial lenders.
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