The effect of financial strategies to financial performance: A research on the airline companies that passenger transport

The purpose of this thesis is to emphasis on the importance of financial strategy for businesses and to measure the impact of determined financial strategies by air transport companies to financial performance with Data Envelopment Analysis (DEA). Besides this main purpose, it has sub goals such as analyzing financially the current situation of transport companies and explicating that they note issues in their choice of financial strategy. In light of the basic objectives and sub objectives, a qualitative research was used. Related data with research was obtained by using face-to-face interview technique.Data of interview was analyzed with descriptive analyze technique and data that obtain from financial statement of companies was analyzed with DEAP (Data Envelopment Analysis Program). As a result of research, it has been ascertained that the airline companies that passenger transport applied as financial strategy, costing strategies such as hedging method application, fronting the basic operations to provide additional services (food&beverage etc.) for an extra fee, purchasing cost-effective plane and using of derivative products. Nonetheless, it has been determined that the airline companies that passenger transport cared profitability strategy such as cost management, providing additional income and boosting sales. Also examined three of seven companies were determined to be effective. Potential improvement rates have been identified for becoming effective of inactive companies.Keywords: Finance, Strategy, Financial Performance, Data Envelopment Analysis, Airline Companies That Passenger Transport.