How can you grow your airport strategically?

1 Market position

Your market position is the perception of your airport by your customers, competitors, and regulators. It reflects your strengths, weaknesses, opportunities, and threats in the aviation industry and the broader environment. To grow your airport strategically, you need to understand your market position and how it affects your attractiveness, profitability, and risk. You can use tools such as SWOT analysis, Porter's five forces, and benchmarking to assess your market position and identify your competitive advantages and gaps.

2 Assets and capabilities

Your assets and capabilities are the resources and skills that enable your airport to create value for your customers and stakeholders. They include your physical infrastructure, human capital, technology, brand, reputation, and culture. To grow your airport strategically, you need to leverage your assets and capabilities and invest in them to enhance your efficiency, quality, innovation, and differentiation. You can use tools such as VRIO analysis, core competency model, and balanced scorecard to evaluate your assets and capabilities and prioritize your investments and improvements.

3 Revenue streams

Your revenue streams are the sources of income that your airport generates from your activities and services. They include aeronautical revenues, such as landing fees, passenger charges, and air navigation services, and non-aeronautical revenues, such as retail, parking, advertising, and real estate. To grow your airport strategically, you need to diversify your revenue streams and optimize their mix and margin. You can use tools such as revenue management, pricing strategy, and customer segmentation to analyze your revenue streams and design your product portfolio and value proposition.

4 Stakeholders and partnerships

Your stakeholders and partnerships are the entities and individuals that have an interest or influence on your airport's performance and success. They include your customers, employees, shareholders, suppliers, regulators, community, and media. To grow your airport strategically, you need to manage your stakeholders and partnerships and build trust, loyalty, collaboration, and advocacy. You can use tools such as stakeholder analysis, communication plan, and social responsibility to identify your stakeholders and partnerships and develop your engagement and relationship strategies.

5 Operations and performance

Your operations and performance are the processes and outcomes that measure and improve your airport's efficiency, effectiveness, and excellence. They include your operational planning, execution, control, and evaluation, as well as your key performance indicators, targets, and standards. To grow your airport strategically, you need to align your operations and performance with your goals and vision and ensure your continuous improvement and innovation. You can use tools such as operational excellence, quality management, and performance management to optimize your operations and performance and monitor and report your results and impacts.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?