What are the best ways to evaluate flight routes and adjust them for performance?

CCRM - Capacity and revenue management. The fundamental science behind data collection, analysis and action plan is the best way to analyze all the routes and identify the ones which are profitable vs the ones which are not.

Optimizing flight routes involves analyzing historical and real-time data for performance insights, prioritizing routes based on profitability, considering operational costs, and market demand. Fuel efficiency is optimized, and operations are streamlined. Competitor strategies are monitored, and routes are adapted accordingly. Weather conditions are considered, and collaboration with ATC is undertaken, utilizing technology for route planning. Customer feedback is incorporated to enhance the passenger experience. Compliance with aviation regulations is ensured, and adaptation to changes in airspace is made. This comprehensive evaluation and adjustment process contributes to improved overall flight performance.

Wherever possible, look beyond traditional datasets such as historic ticketing data. Often airlines, even on routes where they will be the first or only airline, forget that they are often competing with other transport modes. Gathering traffic data from other modes will help define the true market size. Using new data sources such as geo-location data to size the market accurately, not just the market perceived to be deferential to flying already.

It's important to 'sweat' assets, including personnel, to maximise profitability. Ensure that as each route is added, the impact of revenue and cost is re-appraised to apportion and reapprortion them appropriately across the whole network as this will help identify synergies and inedeficiencies as a result of route-specific factors. Consider looking at route metrics on a revenue per asset basis as well as simple total revenue vs total cost basis.

Whilst profitability is the key driver, recognise that different routes can also have different metrics especially, Critical Success Factors and Key Performance Indicators. Try not to establish 'blanket' metrics as the value of a route may not entirely be [absolute] profitability. Defensive positioning, network value, frequent flyer retention and social responsibility can/should also be considered.