The impact of COVID-19 on the financial structure of the ground handling industry: The case of Çelebi Aviation Holding

The aviation industry consists of many interrelated components and there are many factors that affect the functioning of these components. External shocks are one of these factors, and the covid epidemic that the world is exposed to today has left deep scars on the aviation industry. The shrinkage of air transport due to the effect of the epidemic brought along financial problems for ground services, which are responsible for the operational process. The aim of this study is to reveal the financial effects of Covid 19 on ground handling services, to determine how their financial performance can be affected in the next possible crises and what kind of measures can be taken. In this context, the data included in the annual reports published from 2009 to 2020 were used to observe the effects of the Covid-19 Pandemic on Çelebi Ground Handling Inc. in a reliable and consistent manner. Entropy-based TOPSIS method was used in the research. The criteria were weighted with the Entropy method and then the alternatives were classified with the help of the series formed by using the TOPSIS method. These data are determined as Net sales, Profit Before Interest Tax, Total Assets, Equity and Number of Employees. When the results of the research are examined in general, the criterion with the highest importance is Total Assets, while the year 2018 was determined as the most financially successful year of the company. However, it has been observed that the Covid-19 Pandemic has negative financial effects on the company.