Kentsel Raylı Sistem İşletmelerinde Finansal Sürdürülebilirlik: İstanbul ve Avrupa Metropolleri Üzerine Karşılaştırmalı Bir Analiz

Öz

Bu çalışmada, kentsel raylı sistem işletmelerinin finansal sürdürülebilirliği, maliyet karşılama oranı, yolcu başına gelir ve gider göstergeleri, varlık verimliliği ile finansman açığı göstergeleri kullanılarak İstanbul ve seçilmiş Avrupa metropolleri örneğinde karşılaştırmalı olarak incelenmiştir. 2020–2024 dönemine ait veriler kullanılarak gerçekleştirilen analizler, sistemlerin finansal yapılarının şehirler arasında önemli farklılıklar gösterdiğini ortaya koymaktadır. Bulgular, metro sistemlerinin faaliyet giderlerini karşılama kapasitesinin kamu desteği hariç olarak değerlendirildiğinde belirgin biçimde zayıfladığını ve birçok sistemin sürdürülebilirliğinin kamu finansmanına bağlı olduğunu göstermektedir. Yolcu bazlı göstergeler, bazı şehirlerde maliyet baskısının arttığını ortaya koyarken, varlık verimliliği bulguları sistemlerin sermaye yoğun yapısını doğrulamaktadır. Genel olarak çalışma, metro sistemlerinin finansal sürdürülebilirliğinin tek bir göstergeyle açıklanamayacak kadar çok boyutlu bir yapı sergilediğini ve gelir, gider, verimlilik ile finansman unsurlarının birlikte değerlendirilmesi gerektiğini ortaya koymaktadır. Ayrıca çalışma, İstanbul ile seçilmiş Avrupa metropollerinin metro sistemlerini finansal sürdürülebilirlik göstergeleri üzerinden karşılaştırarak ilgili literatüre katkı sunmaktadır.

Anahtar Kelimeler

• Raylı sistemler
• Finansal sürdürülebilirlik
• Kentsel ulaşım
• Sübvansiyon
• Karşılaştırmalı analiz.

Etik Beyan

Bu çalışmanın hazırlanması sürecinde, yapay zekâ tabanlı araçlardan yalnızca yazım dili, dilbilgisi ve anlatımın iyileştirilmesi amacıyla yararlanılmıştır. Yapay zekâ araçları, literatür taraması, çalışmanın bilimsel içeriğinin oluşturulması, veri analizi, sonuçların elde edilmesi veya yorumlanması süreçlerinde kullanılmamıştır. Bu makalede bilimsel araştırma ve yayın etiğine uyulmuştur.

Financial Sustainability in Urban Rail System Operations: A Comparative Analysis of İstanbul and European Metropolises

Öz

This study comparatively examines the financial sustainability of urban rail system operators in the case of Istanbul and selected European metropolises by using cost recovery ratios, revenue and cost per passenger indicators, asset efficiency, and financing gap indicators. Analyses conducted using data from the 2020–2024 period reveal significant differences in the financial structures of the systems across cities. The findings indicate that the capacity of metro systems to cover their operating expenses weakens considerably when evaluated excluding public support, and that the sustainability of many systems depends on public financing. Passenger-based indicators reveal increasing cost pressures in some cities, while asset efficiency findings confirm the capital-intensive nature of metro systems. Overall, the study demonstrates that the financial sustainability of metro systems exhibits a multidimensional structure that cannot be explained by a single indicator and that revenue, cost, efficiency, and financing components should be evaluated together. In addition, the study contributes to the relevant literature by comparing the metro systems of İstanbul and selected European metropolises through financial sustainability indicators.

Anahtar Kelimeler

• Urban rail systems
• Financial sustainability
• Urban transport
• subsidy
• Comparative analysis

Etik Beyan

In the preparation of this study, artificial intelligence-based tools were used only for the purpose of improving writing style, grammar, and expression. AI tools were not used in the literature review, the creation of the scientific content of the study, data analysis, obtaining or interpreting results. This article adheres to scientific research and publication ethics.

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