Evaluating the financial performance of businesses operating in the aviation sector

Airline transportation, which has become more preferred by passengers in recent years, has advantages such as being economical, saving time and providing fast transportation. In such a competitive sector, companies should develop new strategies for competition and show a better performance. In this context, financial ratios used in performance measurement will be analyzed and basic indicators will be determined for companies operating in the airline-aviation sector. With the determined indicators, the financial performances of 4 airline-aviation companies traded on BIST will be analyzed by SV, PSI, LOPCOW, COBRA and BORDA methods. In the first part of the study, information about the aviation sector, airline companies, airport management, airline transportation and airport ground handling services is given, and information about the aviation sector and its development in the world and Turkey is given. In the second part of the study, financial performance concepts are explained with their formulas and financial ratios used in the airline-aviation sector are given. In the third section, the Multi-Criteria Decision Making methods used in the study are explained with their formulas. Finally, in the fourth part of the study, the financial performance of CLEBI (Çelebi Ground Handling Services), PGSUS (Pegasus Airlines), TAVHL (TAV Airports Holding) and THYAO (Turkish Airlines), which are traded on Borsa Istanbul, was measured in 2023 using the methods described in the third part. Twelve ratios were selected from liquidity ratios, profitability ratios, financial structure and operating ratios and the data were taken from the balance sheets and financial statements shared by the companies. As a result, the performances of the 4 companies in 2023 were compared and presented to investors and companies which company performed better.