We propose a model which can be utilized within a collaborative decision making (CDM) framework for rescheduling of arrivals and departures. The proposed mathematical program is expected to be utilized by major stakeholders, namely airlines and air navigation service providers. After providing the constraints, we list possible performance measures to be used as the objective function by a stakeholder. Performance measures include the ones that represent equity, as well as efficiency. We suggest guidelines to utilize the model for any stakeholder within CDM. Finally, a case study is prepared using publicly available data to demonstrate possible benefits.