Özet

The aim of the study is to analyze the financial sustainability of airline companies. In this study, ESG (Environmental, Social, and Governance) scores, financial failure, and financial rating scores were analyzed using Multi-Criteria Decision Making (MCDM) methods to analyze the financial sustainability performance of airlines. The study measures financial sustainability performance using data obtained from 30 airlines in 2023. The Altman Z model used in the study has been adopted as an optimal method for measuring the risk of financial failure in the airline industry. Additionally, the TAA financial rating method was used to evaluate the financial efficiency and risk levels of airlines, presenting a unique approach as the first application in the literature in this field. The TAA financial rating method and MCDM methods used in the study enable the evaluation of not only the current financial status of companies but also their future financial risks and opportunities. The study provides strategic guidance to the industry on integrating ESG scores with financial failure analysis and financial rating methods. These findings will serve as an important reference point for both academic research and airline policies and practices.

Anahtar Kelimeler

financial sustainability | ESG | sustainability | LOPCOW and CRADIS | aviation management

Atıf Sayıları
Web of Science	1
Google Scholar	2

FINANCIAL SUSTAINABILITY PERFORMANCE OF AIRLINES

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