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    Presentation Transcript

    • Responsibilities and Functions of DGCA
      DGCA is Statutory authority responsible for laying down standards and their
      implementation:
      Airworthiness of Aircraft;
      Safety and Operation of Aircraft;
      Flight Crew Standards & Training;
      Air Transport Operations.
      Licensing of Flight Crew, Aircraft Engineers and Civil Aerodromes.
      Certification of Aircraft Operators.
      Investigation into incidents and minor accidents and implementation of safety measures.
      Regulation and control of air transport operations.
      Formulation of aviation legislation.
      Undertake Research and Development activities in the field of Civil Aviation.
      Handling of matters relating to ICAO.
    • Functions of AAI:
      To manage the airports, the civil enclaves and the aeronautical communication stations efficiently.
      To provide air traffic service and air transport service at any airport and civil enclaves.
      Plan, develop, construct and maintain runways, taxiways, aprons and terminals and ancillary buildings at the airports and civil enclaves;
      Establish airports, or assist in the establishment of private airports by rendering such technical, financial or other assistance which the Central Government may consider necessary for such purpose
    • Plan, procure, install and maintain navigational aids, communication equipment at the airports and at such locations as may be considered necessary for safe navigation and operation of aircrafts.
      Provide air safety services and search and rescue, facilities in co-ordination with other agencies
      Establish schools or training centers for its officers and employees in regard to any matter connected with the purposes of this Act
      Construct residential buildings for its employees and warehouses and cargo complexes for storage.
      Make appropriate arrangements for watch and ward at the airports and civil enclaves
    • Functions of AERA
      • The Authority shall perform the following functions in respect of major airports , namely:—
      • to determine the tariff for the aeronautical services taking into consideration—
      • the capital expenditure incurred and timely investment in improvement of airport facilities;
      • the service provided, its quality and other relevant factors;
      • the cost for improving efficiency;
      • economic and viable operation of major airports;
      • revenue received from services other than the aeronautical services;
    • Key Factors Influencing the Performance of Airports:
      The Performance of the airport depends on following factors:
      Weather
      Traffic Volume
      Airline Schedule
      Efficiency of baggage handling operations
      Efficiency of airport operations
      No. of runways
      ATM
    • Indicators commonly used to access economic performance:
      Cost Efficiency
      Labor productivity
      Capital Productivity
      Revenue Generation
      Profitability
    • Financial Modeling
      The basic idea is to identify and examine as many possible scenarios and outcomes as possible, as they relate to a particular course of action.
      Accurately identifies all possible outcomes associated with the future performance of a given investment.
      Consider not only the currently known factors, but also possible future movements in the marketplace.
      Involves the creation of mathematical projections.
    • Financial Ratios
      Financial Ratios are the tools used for quantitative analysis of the company’s financial statements.
      Leverage Ratios
      Liquidity Ratios
      Efficiency Ratios or Turnover Ratios
      Profitability Ratios
    • Leverage Ratios
      • Shows the proportions of debt and equity in financing the firm’s assets.
      • Debt Ratios
      • Long Term Debt Ratio
      • Debt Equity Ratio
      • Total Debt Ratio
      • Interest Coverage Ratio
    • DebtRatio:
      Shows the extent to which debt financing has been used in the business.
      Debt ratio=total debt/ total debt + net worth
      Debt equity ratio=total debt/ net worth
      Total debt ratio= total liabilities/ total assets
      Interest Coverage Ratio =EBITA/ Interest
      • Liquidity Ratios:
      Measures the firms ability to meet current obligations.
      Net Working Capital to Total Assets Ratio
      Current Ratio
      Cash Ratio
      • Net Working Capital Ratio
      The difference between the current assets and current liabilities is known as net working capital/net current assets.
      It roughly measures the firm’s potential reservoir of funds.
       
      Net Working Capital Ratio= Net working capital/ Total Assets
      • Current Ratio:
      It is the ratio of Current Assets to Current Liabilities.
      Current Ratio=Current assets/ current liabilities
       
      • Cash Ratio:
      A company’s most liquid assets are its holdings of cash and marketable securities.
      It is the ratio of Cash and marketable securities to current liabilities.
      Cash Ratio=cash + marketable securities / current liabilities
    • Efficiency Ratios
      It judges on how efficiently the firm is using its assets.
      The most important type of ratio is the Asset Turnover Ratio.
      • Asset Turnover Ratio:
      The asset turnover or sales-to-assets ratio shows how hard the firm’s assets are being put to use.
      Asset Turnover Ratio=sales/net assets or capital employed
    • Profitability Ratios
      Profitability Ratios focus on the firm’s earnings.
      Measures overall performance and effectiveness of the firm.
      • Net Profit Margin
      • Return on Assets
      • Return on Equity
      • Net Profit Margin:
      If you want to know the proportion of revenue that finds its way into profits, you look at the profit margin.
      Net Profit Margin = Profit after tax/sales
      • Return on Assets:
      It is better to use net income plus interest because we are measuring the return on all the firm’s assets, not just the equity investment. Thus,
      Return on Assets= (Net Income + Interest) / Average Total assets
      •  Return on Equity:
      Another measure of profitability focuses on the return on the shareholders’ equity.
      Return on Equity =Profit after tax/net worth
    • Financial Valuation
      In general terms, there are many approaches to valuation. One of them is the Discounted Cash flow Valuation (DCF), it relates the value of an asset to the present value of expected future cash flows on that asset.
      There are two basic DCF models that compare the PV of future project cash inflows and outflows to an initial investment, NPV & IIR.
      • Net Present Value(NPV):
      NPV of an investment (project) is the difference between the sum of the discounted cash flows which are expected from the investment and the amount which is initially invested.
      • Internal Rate of Return (or IRR):
      It is the discount rate that makes the net present value of all cash flows from a particular project equal to zero.
    • Findings and Conclusion