Forecasting Air Travel Demand

2   Existing research

Demand forecasting is the science and discipline of predicting the consumers’ demand, to provide a future demand forecast as the decision-making basis for the corporate supply chain and business management. There is a long history of research about demand forecasting. Generally, the research boost of demand forecasting began with the wide application of the various econometrical models. In literature, demand forecasting mainly involves techniques including the informal methods such as qualitative assessment, and quantitative methods such as the statistical techniques based on the use of historical data. Due to the complexity of demand’s influencing factors, demand forecasting is far from easy and the forecasting performance ...