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The subject of this dissertation is to analyze yield management in detail, and in particular its implementation in the aviation sector. The methods of implementation will be analyzed in more detail, as well as the positive and negative effects it could have. In particular all this will be described to the implementation in the airline system. The competition between tourism companies forces them to look for solutions for the proper management of revenues, in order to attract as many customers as possible. By using yield management techniques, maximum profits and occupancy can be achieved. The first chapter will analyze in detail the concept of yield management and its characteristics. We will refer to the history, the way it started and how it evolves over the years. We will study the conditions of implementing and what the goal is, when applied by a company. We could not leave out the advantages and disadvantages in general and quote all the concerns that have been created by misconception and false application of yield management. Finally, we will consider the implementation of yield management in the hotel business sector. The second chapter will focus on the implementation of yield management in the aviation industry. Initially it's being made a general reference in the aviation industry and its development in Greece. Then, we analyze the methods of its implementation, but also the difficulties encountered by the airlines. We describe the booking control policy and flight models, which are divided into two categories: flight models to one destination and flight models to multiple destinations. In addition, we will examine the implementation of yield management in low-cost airlines companies. Finally, in the third chapter of this dissertation are presented the conclusions and comments on the comprehensive study of yield management. Also, indicative proposals for future research are presented.