Study Of Benefits Analysis And Risk Management Of Airport Investment

When the government puts huge funds into the construction of airports, the investment incomeshould not be the only measure, the social and economic benefits driven by the airports should also beconsidered. The scientific and objective analysis of social and economic benefits driven by theairports is conducive to the government and relevant departments to develop scientific developmentplanning, so as to promote the development of the air transport industry. But at the same time, thereexists risks while investing. And the airport project generally has many characteristics, such as hugeinvestment funds, large-scale, long period, a wide range of uncertainties vulnerable to the impact ofthe external environment conditions, etc. Therefore, it’s significant to evaluate the risks of airportinvestment.In the aspect of the analysis of airport’s social and economic benefits, this paper adjust theinput-output table of our country in2007, and then use input-output method to estimate the airport’sdirect economic benefits and indirect economic benefits, and takes the Shanghai airport as an example.The calculation results show that among the economic benefits of the airport, there are only smallparts belong to the air transport industry, the greater proportion is embodied in its role in promotingrelated industries.In the aspect of risk management, this paper uses the WBS-RBS method to do the riskidentification and the project risk factors table has been given. The evaluation system of airportinvestment risks has been established. Then, use the method of matter element analysis methodcombined with AHP to determine the weight, and use KENDALL inspection to test the results. Thecombination of the two methods can effectively avoid the lack of using single method. Then use Greymulti-level method to do the comprehensive evaluation and Hengyang Airport illustration shows thatthe method is feasible. Finally, for the risk factors of airports, this paper proposes the priority risktakers and risk response strategy, and focuses a lot on the financing model diversification; the paperproposes that different parts of the airport can use different financing models according to theirdifferent attributes and profitability, in order to disperse the risks.