基于Convexity模型的航空公司利率风险管理

Interest Rate Risk Management in Airlines Based on Convexity Model

国际性特征日趋明显的中国航空公司正面临着金融市场上的诸多不确定性,其中利率风险日益凸显。将Convexity模型这一在西方发达国家较为成熟的风险管理工具引入中国,并将其应用到中国航空公司的风险管理实践,对利率风险进行了极为精确的量化评估,最后给出了相应的规避方法。

As a result of increasingly international business connections and of the almost daily involvement in the fluctuations of the financial market, China＇s airlines is invariably confronting with a lot of uncertainties in terms of the interest rate risks,which becomes more and more prominent as the transaction volume grows bigger and bigger by the day. Convexity model, which has fully developed in west countries,is introduced into China and applied as a tool to interest rate risk management in China＇s airlines. It can give the most precisely quantitative evaluation of the interest rate risks to the benefit of the airlines. Finally, some relevant evading interest rate risk methods are formulated.