Publication: COVİD 19 PANDEMİSİNİN TÜRK HAVA YOLLARI ANONİMORTAKLIĞI’NIN FİNANSAL PERFORMANSINA ETKİLERİ İÇİNBİR ANALİZ
Abstract
Covid-19 pandemisi, dünya genelinde toplum sağlığı ve ekonomik faaliyetler üzerinde önemli olumsuz etkiler oluşturmuştur. Hükümetler, kendi koşullarına göre, kısa vadede Covid-19 pandemisinin halk sağlığı üzerindeki olumsuz etkilerini azaltmak ve yayılmasını önlemek için hareketliliği azaltmaya yönelik tedbirler uygulamaya koymuşlardır. Covid-19 pandemisinin ekonomi üzerindeki olumsuz etkileri dikkate alındığında, pandeminin ne zaman kontrol altına alınabileceği konusundaki belirsizlikler, tüm ekonomik birimlerin beklentilerinin bozulmasına, bireysel ve kurumsal taleplerin azalmasına yol açmıştır. Öte yandan, bazı sektörlerde, salgının yayılmasını azaltmak için hareketliliği azaltmaya yönelik tedbirler ve hükümetler tarafından alınan kısıtlayıcı önlemler, bu sektörlere olan talebin daralmasına neden olmuştur. Hükümetler, ekonomik durgunluğun olumsuz etkilerini ortadan kaldırmak için çeşitli düzeylerde para ve maliye politikaları uygulamış fakat krizin daraltıcı etkilerini tamamen ortadan kaldırmak mümkün olmamıştır. Bu çalışmanın temel amacı, bir yandan Covid-19 pandemisinin havacılık sektörün üzerindeki etkilerini analiz etmek diğer yandan ise Covid 19 pandemisinin Türk Hava Yolları A.O. (THY) finansal performansına etkilerini mali analiz teknikleri ile ortaya koyarak THY’ni bu süreçte bu krizi nasıl yönettiğinin analizini yapmaktadır. Çalışmanın temel sonucu, COVID-19 pandemisinin dünyada olduğu gibi Türk havacılık sektörü ve THY için de önemli olumsuz mali etkileri olduğu yönündedir. Bu tür krizlerin etkilerini en aza indirmek için ülkeler, sektörler ve firmaların gelecekteki krizleri öngörme ve yönetebilme kapasitelerini geliştirmeleri krizlerin olumsuz etkilerinin en aza indirmek açsından önemli rol oynayacaktır.
The Covid-19 Pandemic has had significant negative effects on public health and economic activities worldwide. Governments, on their own terms, are implementing measures to reduce mobility to in the short term to reduce the adverse effects of the Covid-19 Pandemic on public health and prevent its spread. Considering the negative effects of the Covid-19 Pandemic on the economy, uncertainties about when the Covid-19 Pandemic could be brought under control caused the expectations of all economic units to deteriorate and individual and institutional demands to decrease. On the other hand, in some sectors, measures to reduce mobility to reduce the spread of the epidemic and restrictive measures taken by governments have caused the demand for these sectors to shrink. Governments have implemented various levels of monetary and fiscal policies to counteract the negative effects of the economic recession. However, it was not possible to completely eliminate the narrowing effects of the crisis. In this context, the main purpose of this study is to analyze the effects of the Covid-19 Pandemic on the aviation industry, on the one hand, and the effects on the financial structure of Turkish Airlines A.O. by using financial analysis techniques. The main result of the study is that the COVID-19 Pandemic has significant negative financial impacts for the Turkish aviation industry and THY as well as the world. In order to minimize the effects of such crises, improving the capacity of countries, sectors and companies to anticipate and manage future crises will play an important role in minimizing the negative effects of crises.
The Covid-19 Pandemic has had significant negative effects on public health and economic activities worldwide. Governments, on their own terms, are implementing measures to reduce mobility to in the short term to reduce the adverse effects of the Covid-19 Pandemic on public health and prevent its spread. Considering the negative effects of the Covid-19 Pandemic on the economy, uncertainties about when the Covid-19 Pandemic could be brought under control caused the expectations of all economic units to deteriorate and individual and institutional demands to decrease. On the other hand, in some sectors, measures to reduce mobility to reduce the spread of the epidemic and restrictive measures taken by governments have caused the demand for these sectors to shrink. Governments have implemented various levels of monetary and fiscal policies to counteract the negative effects of the economic recession. However, it was not possible to completely eliminate the narrowing effects of the crisis. In this context, the main purpose of this study is to analyze the effects of the Covid-19 Pandemic on the aviation industry, on the one hand, and the effects on the financial structure of Turkish Airlines A.O. by using financial analysis techniques. The main result of the study is that the COVID-19 Pandemic has significant negative financial impacts for the Turkish aviation industry and THY as well as the world. In order to minimize the effects of such crises, improving the capacity of countries, sectors and companies to anticipate and manage future crises will play an important role in minimizing the negative effects of crises.