Özet:

Purpose: Aviation companies consist of companies that are spread across a wide range and operate in more than one sub-sector. These companies are divided into three groups: airline companies, airport companies and land service providers. In this structure, the companies that make the greatest contribution to the aviation industry can be expressed as the airline companies. It is of great importance to measure the financial performance of the airlines and to evaluate the results of the financial performance of the airlines, in order that other financial information users are able to make healthy decisions. In particular, due to the rapid developments in the aviation sector and factors such as the increasing competition environment, financial performance management has become even more important in airline operations. Financial performance indicators are one of the most important indicators used by financial information users in the planning and decision making processes. There are various methods of performance measurement that can be used in airline operations. The most commonly used of these methods is the ration method. The purpose of this study is to analyze the financial performance of the airline companies by the rational method of the results. Method: In accordance with this purpose, Turkish Airways A.Ş. is traded in Borsa Istanbul. Pegasus Airways A.S. The latest annual financial statements they have published to the public are provided from the Public Lighting Platform (KAP) and the analysis is carried out by the ration method. Results: In light of the financial statements, the financial performance of both airlines is measured and the liquidity rates of both airlines differ from the standard (ideal) rates, the financial structure rates are close to each other, the assets are mainly financed by foreign sources, Pegasus Airlines A.S.The Turkish Airways A.Ş.It was found that it was better than that, both airline operations showed close performance in profitability rates. Result: As a result of the financial performance measurement by the Ratio method, Pegasus Airlines A.S. The financial performance of Turkish Airways A.Ş.It is clear that he is more successful. This is why, in terms of investment, Pegasus Airlines A.S.The Turkish Airlines A.S.The result is that it is more advantageous and attractive in the industry.

Anahtar Kelimeler:

Özet:

Aim: Aviation enterprises are comprised of enterprises that spread over a wide area and operate in more than one sub-sector. These enterprises; it is divided into three groups: airline enterprises, airport enterprises and ground handling enterprises. Within this structure, it is possible to state that the enterprises that make the biggest contribution to the aviation sector are airline enterprises. Measuring the financial performance of airline enterprises and evaluating their results are of great importance in order to ensure that the decisions to be made by both airline managers and other financial information users are healthy. Financial performance management has become even more important in airline enterprises, especially due to factors such as the rapid developments in the aviation industry and the increasing competitive environment. Financial performance indicators are among the most important indicators used in the planning and decision making processes of financial information users. There are various performance measurement methods that can be used in airline enterprises. The most frequently used method among these methods is ratio method. The aim of this study is to analyze the financial performances of airline enterprises with the ratio method and to reveal the results. Method: In line with this purpose, the annual financial statements of Turkish Airlines Inc. and Pegasus Airlines Inc., which are publicly traded on Istanbul Stock Market, were obtained from the Public Disclosure Platform (KAP) and analyzed by ratio method. Findings: In the light of the financial statements, the financial performances of both airlines have been measured and it has been determined that the liquidity ratios of both airlines differ from the standard (ideal) ratios, financial structure ratios are close to each other, assets are predominantly financed by foreign sources, The activity rates of Pegasus Airlines Inc. are better than Turkish Airlines Inc., both airline companies performed close to each other in their profitability rates. Results: As a result of the financial performance measurement made by the ratio method, it is obvious that the financial performance of Pegasus Airlines is more successful than Turkish Airlines Inc. For this reason, it has been concluded that Pegasus Airlines Inc. has a more advantageous and attractive position in the sector in terms of investment compared to Türk Airlines.