Factors determining structural and financial efficiency in airports: An empirical study on Turkish airports

The aim of this study is to determine the structural and financial efficiency levels of Turkish airports, to determine the factors affecting the efficiency level and to examine the impacts of the COVID-19 global crisis. The structural and financial efficiency levels of the airports are evaluated by Data Envelopment Analysis and ranked according to their efficiency levels using the Super Efficiency model. The factors having statistically significant effects on the efficiency level are estimated by Tobit Regression Analysis. The results of the structural efficiency model show that the number of efficiently operated airports has decreased since 2019, the average efficiency level has increased in 2021, and the airports are run structurally efficiently at an average of 61%. The results of the financial efficiency model indicate that the average efficiency level has increased since 2019, there has been an upsurge in the number of airports operated as financially efficient in 2021, and airports are run financially efficiently at an average of 60%. The results of the Tobit Regression Analysis applied to the structural efficiency model demonstrate that the aircraft traffic factor has a significant and positive effect on the efficiency levels in all analysis years, yet the passenger number factor has a significant and negative impact. The results of the Tobit Regression Analysis applied to the financial efficiency model suggest that the population factor has a significant and negative effect on the efficiency levels in every period except the year 2014. It is found that the operating type factor does not have a significant positive or negative impact on the efficiency level of Turkish airports in any period.