Flight Overbooking

Airbrblase
study
pflightoverbookingproblem

flight.IE seats

booked tickets Id
ombooked α tickets

T
SomtimsL

101110hL
2additionalpassenge .EE
Craycraft

loss to the airlines

penalty
 How tickets should you
Problems many
to maximise
sell your
expected profits

Assumptions
100 seats
Capacity

5000 Rs
Ticket price
Rs
Penalty
 Call
Additioddata
a person not
Probability of
10 historical
showing up

E cesi
Typefaces
omboaking
a

is 5000
if penalty
100
f

0
overbooking
Probabalistic

a pessenger 0.1
p not showing up

2 tickets
assume we overbook
Lets

100 n
booked
Totaltickets
tickets
th
1100 2
2 3
I
D

o
 100 2
100 2
9740.1
P 10 people
showing UP G 0
e

to show
up
Lets Y of people

100
0.9 0.1
P 9 100 2,00
Po penalty 0ᵗʰ
100
2 0 9 a 0.17
P 4 101

penalty 10K
P

0 9 710.1
P Y 100 n cement

penalty 101k
Pa ps
 Expected Penalty PIA ORAL

Pp 10K 1
Pot 104 0

2
P COKA

n
PRA 10K

100 a a 5000
Ravens
Expected profit
Revenue Exp penalty

100 tn 5000

Pi 10K

which
value of i for
it gives max Result

profit
Exp

s n hi
What further improvements can be

made in above analysis

Ticket price is NOT fixed it is

dynamic in
nature
Deicing
is also
Penalty

up is NOT
Prob not showing
of
Fantandliffers from
person to person
 case
study
Airbus
shared
Detailed Doc will be

along with projectfils

0k
Eft
Supered
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