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Essay / Research Paper Abstract
This 5 page paper looks at the risks face by Soutwest Airlines. The paper looks at the risks to assets, security and auditing, considering what risks are faced and how they are managed. The bibliography cites 4 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TESWcoso.rtf
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Unformatted sample text from the term paper:
as an example to undertake a current risk assessment. A firm such as Southwest Air will have a large umber of risks; however, due to the use of the
firm many of the smaller risks may not be seen as potentially significant or material on the operation of the firm. Despite this smaller risks will be included as if
these are replicated that can result in a material impact on the results. The first sets of risks to be considered are
the risks to assets. There are the risks to the assets that all airlines will face, such as natural disasters, and acts of terrorism. Disasters, such as weather conditions are
watched and forecast well in advance and aircraft will be flown out of the way of any potential, foreseeable events. For example, small amounts of damage to an aircraft can
cost at little as $20,000 to repair, up to the cost of a single engine being in excess of $1 million (Boeing, 2009). There are also the indirect costs, flying
an aircraft out of the way may incur additional fuel charges, depending on flying conditions a 737 will consume between 3 - 6 gallons of fuel per mile travelled (Boeing,
2009). The current average price of a barrel of fuel is $62.2, and there are 42 US gallons to a barrel (FT.com, 2009). This means at the current time, if
an aircraft is flown economically and only 3 gallons a mile are consumed, to fly an aircraft from Miami to Atlanta, which is 663 miles, would cost a total of
$2,945 each way, obviously a price worth paying to save the aircraft, which would cost between $51.5 million and $58.5 million depending on option chosen to replace a Boeing 737-600
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