Professor Peter S Morrell

Director of Research
Location: Building 115
E: p.s.morrell@cranfield.ac.uk
T: +44 1234 754242
Department of Air Transport

Current activities

Environmental aspects of aviation, airline economics and finance

Background

Professor Peter Morrell graduated in economics from Cambridge University and subsequently gained a Masters in air transportation from the Massachusetts Institute of Technology, where he worked on NASA sponsored research into airline forecasting and profitability. He has a doctorate in airline capital productivity from Cranfield University. He initially worked with merchant bank, Lazard Brothers, in the City, before joining the Association of European Airlines in Brussels as an economist in 1971. He worked as an air transport consultant from 1978 to 1991, initially with Alistair Tucker Associates and subsequently independently.

He is a former head of the Department of Air Transport at the College of Aeronautics at Cranfield University, where he is a Reader and specialises in air transport economics and finance. He is the Department’s Director of Research, is the European Editor for the Journal of Air Transport Management, on the editorial board of Tourism Economics, and an aviation adviser to the World Economic Forum on environmental matters.

He is the author of the textbook Airline Finance (the third edition of which was published in 2007), and has written many articles for both academic and industry journals.

Selected publications

‘An evaluation of possible EU air transport emissions trading scheme allocation methods’, Energy Policy, 35(11) 2007, 5261-5964

‘The environmental implications of hub-hub versus hub bypass flight networks’, paper with Cherie Lu, Transportation Research D 12, 2007, 143-157

‘Airline jet fuel hedging: theory and practiice’, with William Swan, Transport Reviews 26(6), November 2006

‘Determination and applications of environmental costs at different sized airports: aircraft noise and engine emissions’, with C. Lu, Transportation 33(1), 2006

‘Airlines within airlines: an analysis of US network airline responses to Low Cost Carriers’, Journal of Air Transport Management, 11(5),2005, 303-312

‘Theory and practice in aircraft financial evaluation’, paper with William Gibson in Journal of Air Transport Management, 10(6), 2004, 427-433

‘An evaluation of airline beta values and their application in calculating the cost of equity capital’, paper with Sheelah Turner in Journal of Air Transport Management, 9(4), 2003, 201-209

‘Capital productivity and the role of capital intensity in airline labour productivity’, in the Handbook of Airline Economics, 2^nd Edition, ed. Darryl Jenkins, McGraw Hill, 2002

‘Social costs of aircraft noise and engine emissions - a case study of Amsterdam Schiphol Airport’, paper with Cherie H-y Lu in Transportation Research Board Conference Record 1703, Paper 00-0574, 2001

Airline Finance; Avebury Aviation, Ashgate, 1997, re-printed 1998, second edition 2002, third edition 2007