The Effect of Covid-19 on the Financial Performance of Ground Handling: The Example of Çelebi Aviation Holding

Abstract

The aviation industry consists of many interrelated components and there are many factors that affect the functioning of these components. The Covid-19 epidemic, which has recently been exposed to the whole world, has left deep traces in the aviation industry. The narrowing of air transportation due to the effect of the epidemic brought along financial problems for the ground services component, which is responsible for the operational process. The aim of this study is to examine the financial effects of Covid-19 on ground handling services. For this purpose, the data of Çelebi Ground Handling Inc., which was determined as a sample company, between 2009-2020 were tested using the Entropy-Based TOPSIS Method. The criteria were weighted with the Entropy method and then the alternatives were classified with the help of the series created using the TOPSIS method. Five criteria were determined as "net sales, profit before interest, total assets, equity and number of employees". According to the results of the research, while the highest weighted criterion was total assets, 2018 was determined as the most successful year of the company in financial terms. It was observed that negative financial effects occurred in 2020 with the effect of the pandemic, but there were improvements again in 2021 and even a more successful financial performance compared to 2017.