| Summary: | 碩士 === 國立臺灣大學 === 土木工程學系 === 86 === In recent years, people live in the central and southern part of Taiwan
request for a new international airport. The civil aviation authority has no
theoretical criteria to evaluate whether the air travel demand is high enough
to build an airport or not. In the meantime, the financial condition of the
central government is getting worse. That highlights the importance of
building airports with an acceptable self-liquidation ratio(SLR). In response
to the above needs, this study analyzes the threshold of the number of
passengers for building a new international airport from the viewpoint of
finance. It can be used by the public sector as well as private enterprises
which are interested in airport BOT projects.
This study develops a quantitative relationship between passenger volume and
airport revenue as well as costs. Effects of various airport pricing schemes
on airport revenue are investigated. Net present value method is used to
examine the discounted cash flow during the period of airport construction and
operation. Finally, a case study is conducted for the southern international
airport(SIAP) in Taiwan.
The case study shows that the operating profit of SIAP will not be sufficient
to pay back the huge amount of its construction costs. Its SLR is in the range
of 31% ~ 38%. The passenger threshold is between 13.7 ~ 15.9 million people
annually. If capital gain from land development of the old airport can be
included as SIAP project''s profit, its SLR will increase to 89% ~ 96%, and the
passenger threshold will lower down to the range of 5.8 ~ 7.8 million.
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