Abstract:

Civil aviation activities are important elements of economic and social development. Financial indicators assert that airline industry has a quite fragile structure. In this research, financial performances of an airline company (ABC), listed in Istanbul Stock Exchange (BIST) and airline company (XYZ), listed in Frankfurt Stock Exchange have been compared. For that reason, financial data, abstracted from 2012 financial statements and performance tables have been used. Both airline companies have different advantages against each other based on different performance indicators. However, in order to make a comprehensive comparison, TOPSIS approach, whish is one of the multi criteria decision making methods, has been used. TOPSIS approach includes all ciriteria (performance indicators) into the solution, in order to provide a single result. Performance indicators and their weights has been used to investigate the financial performances of two airline companies using TOPSIS method. The results of the research indicate that the performance of ABC company is better than the performance of XYZ company

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