COVID-19 Krizinde Operasyonel Aksaklık Altındaki Havayolu Şirketlerinin Stratejik ve Finansal Karar Faktörlerinin Analizi

Yıl 2021, Cilt: 2 Sayı: 1, 70 - 88, 31.08.2021

Metehan Atay , Yunus Eroğlu , Serap Seçkiner

Öz

The fact that air transportation is a fast type of transportation and offers the possibility of intercontinental transfer has increased the spread of COVID-19, which is called the new type of coronovirus, to wider geographies by being carried from different points. In addition to being a passenger transfer center between air and land, the expansion of airports as life, shopping and trade centers increases mobility in every region. For this reason, the aviation industry stopped its operations in the first half of 2020, due to the accelerating effect of air transport on the COVID-19 pandemic. The interruption of operations plunged many airlines into financial crisis and disrupted their financial order. In this study, the factors affecting the financial decisions of airline companies operating in the U.S. with different operational strategies (FSC, LCC) were examined. The most important financial factors were determined with the entropy-based MAUT method, and the efficiency of the airline companies was investigated with the data envelopment analysis (DEA) method. Study contains information about the industry, proposes and explains useful findings.

Anahtar Kelimeler

airlines, crisis, economic, factors, covid-19

Kaynakça

• Abate, M., Christidis, P., & Purwanto, A. J. (2020). Government support to airlines in the aftermath of the COVID-19 pandemic. Journal of air transport management, 89, 101931.
• Albers, S., & Rundshagen, V. (2020). European airlines′ strategic responses to the COVID-19 pandemic (January-May, 2020). Journal of air transport management, 87, 101863.
• Bandyopadhyay, S. K., Goyel, V., & DUTTA, S. (2020). Prediction of Air Flight Cancellation during COVID-19 using Deep Learning Methods. ScienceOpen Preprints.
• Banker, R. D., & Thrall, R. M. (1992). Estimation of returns to scale using data envelopment analysis. European Journal of operational research, 62(1), 74-84.
• Bureau of Transportation Statistics (BTS), Flight Cancellations Stabilize in May, but Total Flights Hit Another Record Low, 2020, https://www.bts.gov/data-spotlight/flight-cancellations-stabilize-may-total-flights-hit-another-record-low/ Accessed on 22 Jan 2021/
• Bureau, A. T. (2020). Effects of Novel Coronavirus (COVID‐19) on Civil Aviation: Economic Impact Analysis. International Civil Aviation Organization (ICAO), Montréal, Canada.
• Charnes, A., Cooper, W., Lewin, A. Y., & Seiford, L. M. (1997). Data envelopment analysis theory, methodology and applications. Journal of the Operational Research society, 48(3), 332-333.
• Christopher, M. (2011). Logistics, the supply chain and competitive strategy. In Logistics and Supply Chain Management ,Prentice Hall. London, Pearson Education.
• Craig, A. T., Heywood, A. E., & Hall, J. (2020). Risk of COVID-19 importation to the Pacific islands through global air travel. Epidemiology & Infection, 148.
• Ding, W., Levine, R., Lin, C., Xie, W., 2020. Corporate Immunity to the COVID-19 Pandemic NBER Working paper No. 27055. Available at. https://www.nber. org/papers/w27055.
• Financial Times, How coronavirus brought aerospace down to earth, P Hollinger, https://www.ft.com/content/3fe8a876-7d7c-11ea-8fdb-7ec06edeef84/ Accessed on 23rd Jan 2021.
• Gössling, S. (2020). Risks, resilience, and pathways to sustainable aviation: A COVID-19 perspective. Journal of Air Transport Management, 89, 101933.
• IATA, 2020. COVID-19 puts over half of 2020 passenger revenues at risk. https://www. iata.org/en/pressroom/pr/2020-04-14-01/. (Accessed 22 Jan 2021).
• Ishizaka, A., Nemery, P. (2013), Multi-Criteria Decision Analysis:Methods and Software, John Wiley & Sons Ltd. Published, Chichester/UK.,
• Kim, K. S., Song, O. (2009), “A MAUT Approach For Selecting a Dismantling Scenario for The Thermal Column in KRR-1”, Annals of Nuclear Energy, 36, 145-150.
• Kim, S. K., Park, H. S., Lee, K. W., Jung, C. H. (2007), “MAUT Approach for Selecting a Proper Decommissioning Scenario” , WM’07 Conference, February 25-March 1, Tucson.
• KOČİŠOVÁ, Kristína. Application of Data Envelopment Analysis to Measure Cost, Revenue and Profit Efficiency. Statistika, 2014, 94:3: 47-57.
• Li, T. (2020). A SWOT analysis of China's air cargo sector in the context of COVID-19 pandemic. Journal of air transport management, 88, 101875.
• Merkert, R., and H. Swidan. 2019. Flying with(out) a safety net: Financial hedging in the airline industry. Transportation Research Part E 127: 206–219.
• O'Brien, G., O'keefe, P., Rose, J. ve Wisner, B. (2006). Climate change and disaster management. Disasters, 30(1), 64-80.
• Ramos, T. R. P., Gomes, M. I. ve Barbosa-Póvoa, A. P. (2014). Planning a sustainable reverse logistics system: Balancing costs with environmental and social concerns. Omega, 48, 60-74.
• Ru, H., Yang, E., & Zou, K. (2020). Combating the COVID-19 pandemic: The role of the SARS imprint. Available at SSRN 3569330.
• Rushe, D., 2020. US government agrees on $25bn bailout for airlines as pandemic halts travel. The Guardian. https://www.theguardian.com/business/2020/apr/14/us -government-coronavirus-bailout-airlines-industry. (Accessed 29 May 2020)
• Scotti, D., & Volta, N. (2017). Profitability change in the global airline industry. Transportation Research Part E: Logistics and Transportation Review, 102, 1-12.
• Sobieralski, J.B., 2020. COVID-19 and airline employment: Insights from historical uncertainty shocks to the industry Transportation Research Interdisciplinary Perspectives. Available at: https://doi.org/10.1016/j.trip.2020.100123, 2020.
• Wang, T. C., Lee, H. D. (2009), “Developing A Fuzzy TOPSIS Approach Based on Subjective Weights and Objective Weights”, Expert Systems with Applications, 36, 8980–8985.
• Zionts, S. (1979), “MCDM: If not a Roman Numeral then What?”, Interfaces, 9(4), 94-101