ANALYSIS OF FINANCIAL PERFORMANCE IN THE AIR TRANSPORT SECTOR USING THE DUPONT ANALYSIS METHOD: THE CASE OF TURKISH AIRLINES AND PEGASUS (2022-2024)
ANALYSIS OF FINANCIAL PERFORMANCE IN THE AIR TRANSPORT SECTOR USING THE DUPONT ANALYSIS METHOD: THE CASE OF TURKISH AIRLINES AND PEGASUS (2022-2024)

Summary/Abstract: The aviation sector is one of the areas where financial performance analysis is most critical due to its capital-intensive structure and high sensitivity to external shocks (pandemic, geopolitical crises, fuel prices). The different strategic approaches of traditional airlines and low-cost carriers (LCCs) directly alter the weight of DuPont components in financial statements. Therefore, determining whether profitability stems from operational efficiency (asset turnover and margins) or from the financial risk taken (debt leverage) is of vital importance for both investors and strategic decision-makers. In this study, the analysis was conducted based on the financial statements for the 2022-2024 period of Turkish Airlines Inc. (THYAO), which dominates the Turkish market, and Pegasus Airlines Inc. (PGSUS), which has adopted a low-cost carrier model.

• Details
• Contents