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In: Business and Management

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MDA Airlines

MDA Airlines
Risk Register
A. Risk Register “The candidate provides a risk register with 8 risks currently facing the business, with substantial detail.”
Risk 1|Jet Fuel Prices Fluctuates |
Description|Fuel is required to fly aircraft and with fuel prices always changing, it can be very difficult to budget for it on a monthly/annual basis. The cost of fuel is based on the price of crude oil per barrel and is set by global entities. |
Source|Global jet fuel prices are always fluctuating. If not able to purchase enough fuel at a reasonable price to store for several months, the company could find themselves well over budget potentially grounding aircraft.|
Likelihood of Occurrence|High - Crude oil is traded on the stock market daily with prices fluctuating based on supply and demand.|
Severity of Impact|High - If MDA is not able to manage the budget, they could find themselves in a financial bind.|
Controllability|Med - The hedging program is intended to mitigate risks associated with increasing crude oil prices and is also intended to make it easier to plan for future fuel costs.|
Risk Response|Mitigate - The acquisition and purchase of a refinery were researched by logistics managers that monitored and studied the aircraft fuel supply chain, which discovered that over the years refiners have benefited from increased margins on the sale of fuel. This decision will save millions of dollars and insure a reliable fuel supply for the domestic fleet. The refinery equipment will require some changes to produce jet fuel and also maximize the output.|
Risk 2|Pilot Retention|
Description|MDA employs approximately 12400 pilots. The average age for 70% of the pilots is 50 years old and approaching retirement in the next decade.|
Source|Pilots are beginning to reach retirement age and there aren’t enough pilots in the training

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