| Yazarlar (2) |
Doç. Dr. Faruk DAYI
Kastamonu Üniversitesi, Türkiye |
ASHREF TANTOUN
|
| Özet |
| Airlines make investments to maintain their competitiveness and operations in the global market. With new destinations, airlines make fixed investments by purchasing infrastructure and superstructure services and strengthening their fleets by increasing employment. Airlines plan their investments well in advance. Airlines must adopt effective liquidity management methods to plan their investments and manage cash flows and outflows. Airlines need to consider cash flows in the future and hold cash assets. Airlines may face liquidity risks due to significant cash outflows in aircraft purchases. Therefore, this study investigated airlines' cash assets and liquidity levels. It examined whether airlines manage their cash assets effectively and have the liquidity to repay debts. The sample consisted of the top ten European airlines with the highest number of passengers in 2023. This study focused on the current ratio, times interest earned, average collection period of receivables, and cash cycle (days) ratios to assess airlines' liquidity levels based on data for the period 2014-2023. Cash cycle (days) findings show that airlines have a negative cash conversion period, as they have long debt repayment periods and short operating cycles. The results show that the airlines have adequate collection periods. The airlines should take the necessary measures to improve their times interest earned ratio. Airlines have high financial risks as many of their financing sources are foreign. The current assets are not sufficient to pay short-term debts. They need to analyze the structure of their short-term debt following policies to increase their cash assets. |
| Anahtar Kelimeler |
| Airlines | Cash management | Corporate finance | Europe | Liquidity risk |
| Kitap Adı | Airline Finance in the Global World |
| Bölüm(ler) | An Analysis of Airlines' Liquidity Levels: A Sample of Europe |
| Kitap Türü | Kitap Bölümü |
| Kitap Alt Türü | Alanında uluslararası yayımlanan kitap bölümü |
| Kitap Niteliği | Scopus indeksinde taranan bilimsel kitap |
| Kitap Dili | İngilizce |
| Basım Tarihi | 01-2025 |
| ISBN | 979-8-89530-619-2 |
| Basıldığı Ülke | Amerika Birleşik Devletleri |
| Basıldığı Şehir | New York |
