IFRS 16 leases standart's effects on financial statements: An examination on selected airline business companies

By the publication of IFRS 16 Leasing Standard, operating leases made by leaseholders should be in financial statements as assets and liabilities beginning from 1 January 2019. It is expected that the companies that have prepared their financial statements according to IFRS will have serious changes in their financial statements regarding fiscal year 2019, which will be published for the first time in 2020. For this purpose, aviation companies, where the operating leases are intensive, have been selected, and their 2019 financial statements in which IFRS is applied and 2018 financial statements in which IFRS is not applied were analyzed comparatively. In addition, the financial statements ratios' alterations for the above-mentioned years were examined. The results showed that with the application of IFRS 16 Leases Standard, the assets and liabilities in the financial statements of selected companies increased, their working capital decreased, liquidity rates and financial structure ratios were adversely affected.