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The Recent Financial Crisis on Turkish Airlines - Case Study Example

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The paper "The Recent Financial Crisis on Turkish Airlines" states that Turkish Airlines have enjoyed significant operational and financial growth during the difficult environment and financial crisis when the capacity of the aviation sector was declining…
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The Recent Financial Crisis on Turkish Airlines
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Download file to see previous pages It is important to investigate the strategies of the company during the financial crisis, based on which the company claims to show better performance as compared to other airlines.
The primary aim of conducting this research is to determine the areas of Turkish Airlines which have been affected by the financial crisis. Some other aims and objectives which will be also achieved through this research study are as follows:
The global financial crisis that hit the economies in late 2008 also affected Turkey because Turkey has become much reliant on capital accumulation movements during the decade of the 1990s (Meltem, 2010). The financial crisis has hit most of the sectors and industries and a sign has been seen in the airline's industry. Report of China Daily (2008) highlighted that according to statistics released by International Air Transport Association, the airline travellers traffic has declined by 1.3 percent in October 2008 as compared to 2007 and in September 2.9 percent decline was observed. The impact of the financial crisis is very significant in air travel therefore; a number of airlines are reducing their number of flights to scale back the capacity they offer (Kotil, 2009). The stakeholders in the Turkey Airline Industry are very keen to analyze the impact of the financial crisis on air travel in Turkey. Turkish Airlines Company is one of the major air carriers in Turkey therefore, it is expected that the company might be the major suffer hit by the financial crisis.
Air travel demand significantly decreased during the global downturn. On the other hand, Turkish Airlines has been claiming its effective performance during the crisis. The aviation industry is still under the impact of global financial crisis, however, even in this difficult environment, the operational and financial performance of Turkish Airlines is an indicator of the effective strategic decisions and their implementation (Turkish Airlines Inc, 2009). ...Download file to see next pagesRead More
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