Tam Hizmet Veren Havayolları İle Düşük Maliyetli Havayollarının Finansal Performanslarının Karşılaştırmalı Analizi: 2022-2024 Döneminden Kanıtlar

Yıl 2026, Cilt: 26 Sayı: 1, 426 - 450, 27.03.2026

Burçin Erel , Özen Ece Acar

https://doi.org/10.11616/asbi.1824156

https://izlik.org/JA86LJ77BJ

Öz

Bu çalışma, 2022-2024 döneminde tam hizmet veren havayolu şirketleri (FSC) ile düşük maliyetli havayolu şirketleri (LCC) arasındaki finansal performans farklılıklarını karşılaştırmalı olarak analiz etmeyi amaçlamaktadır. COVID-19 sonrası toparlanma sürecinde küresel havacılık sektörünün yaşadığı ekonomik dalgalanmalar, her iki iş modelinin dayanıklılık ve karlılık stratejilerinin yeniden değerlendirilmesi gerektiğini ortaya koymuştur. Bu bağlamda, dünyanın farklı bölgelerinden seçilen 13 FSC ve 13 LCC'nin finansal verileri analiz edilmiştir. Çok kriterli karar verme tekniklerinden biri olan TOPSIS (İdeal Çözüme Benzerliğe Göre Sıralama Tekniği) yöntemi kullanılarak, her havayolunun likidite, karlılık, verimlilik ve finansal istikrar göstergelerine dayalı performans puanları hesaplanmıştır. Bulgular, özellikle Avrupa'da faaliyet gösteren LCC'lerin, 2022-2024 döneminde FSC'lere kıyasla genel olarak daha iyi finansal performans sonuçları elde ettiğini ortaya koymaktadır. Devlet desteğinden yararlanmalarına rağmen, birçok FSC verimlilik ve karlılık göstergeleri açısından geride kalmıştır. Ayrıca, sonuçlar sadece finansal oranları değil, coğrafi konum, operasyonel esneklik ve pandemi sonrası toparlanma süreci gibi bağlamsal faktörleri de dikkate alan çok boyutlu bir değerlendirme yaklaşımının önemini vurgulamaktadır.

Anahtar Kelimeler

Havayolu finansal performansı , Tam hizmet veren havayolları , Düşük maliyetli havayolları , TOPSIS

A Comparative Analysis of Financial Performance Between Full-Service and Low-Cost Airlines: Evidence from the 2022-2024 Period

https://izlik.org/JA86LJ77BJ

Öz

This study aims to comparatively analyze the financial performance differences between full-service carriers (FSC) and low-cost carriers (LCC) over the 2022-2024 period. The economic fluctuations experienced by the global aviation industry during the post-COVID-19 recovery process have revealed the need to re-evaluate the resilience and profitability strategies of both business models. In this context, financial data of 13 FSC and 13 LCC selected from different regions of the world were analyzed. Using TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) method, one of the multi-criteria decision-making techniques, performance scores were calculated based on liquidity, profitability, efficiency and financial stability indicators of each airline. The findings reveal that LCC operating in Europe, in particular, achieved generally better results in terms of financial performance compared to FSC during the 2022–2024 period. Despite benefiting from government support, many FSC fell behind in terms of efficiency and profitability indicators. Additionally, the results emphasize the importance of a multi-dimensional evaluation approach that considers not only financial ratios but also contextual factors such as geographical location, operational flexibility, and the post-pandemic recovery process.

Anahtar Kelimeler

Airline Financial Performance , Full Service Carrier , Low Cost Carrier , TOPSIS

Kaynakça

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