Economic Analysis

Capital Expenditure (CAPEX)

The capital expenditure primarily encompasses the initial purchase value of the airframe (\(PV_{Airframe}\)) and the propulsion system. To evaluate the profitability on a per-flight or annual basis, these lump-sum costs are annualized using the Capital Recovery Factor (CRF).

The CRF transforms a present value into a stream of equal annual payments over a specified lifespan (\(n\) years) at a given discount rate (\(r\)):

\[ CRF = \frac{r \cdot (1 + r)^n}{(1 + r)^n - 1} \]

Annualized Airframe Cost \(= PV_{Airframe} \cdot CRF\)

Additionally, battery packs have a shorter lifespan than the airframe and require periodic replacement. The cost of these future replacements is also amortized across the operational lifespan, adding a recurring capital cost specific to electric and hybrid aviation.

Operating Expenses (OPEX)

Direct Operating Costs (DOC) are calculated per flight and include several components: - Crew Costs: Hourly wages for pilots and cabin crew multiplied by the block time. - Airport Taxes: Landing fees, passenger handling, and navigational charges. - Maintenance: Routine upkeep for both the airframe and the hybrid powertrain. Electric motors typically have lower maintenance costs than traditional turbines, which is reflected in the model. - Energy & Fuel: The cost of electricity charged to the batteries and the aviation fuel consumed. - Carbon Tax: An environmental penalty applied to the \(CO_2\) emissions generated by the burned fuel. This tax is a critical variable in assessing the future viability of hybrid systems against conventional aircraft.

Revenue & Profitability

The economic viability of the aircraft relies on its ability to generate revenue that exceeds the annualized CAPEX and per-flight OPEX. The total revenue per flight is a function of the ticket price and passenger volume:

\[ \text{Revenue} = \text{ticket_price_eur} \cdot \text{Capacity} \cdot \text{Load_Factor} \]

The overall profitability (profit_total_eur) is then computed by subtracting the costs from the generated revenue over a given operational period (e.g., annually):

\[ \text{profit_total_eur} = (\text{Revenue} - \text{OPEX}_{\text{per_flight}}) \cdot \text{Annual_Flights} - \text{CAPEX}_{\text{annualized}} \]

This calculation highlights the importance of the Load Factor and aircraft utilization rates in achieving a positive return on investment.