Financial Performance of Aviation Firms

Financial performance measurement has a vital importance for companies since it demonstrates the companies' success in achieving their targeted goals. In this study, financial performance analysis was performed using the data of four large airlines with large market shares operating in the United States. In the study, multi-criteria decision-making methods were used. Multi-criteria decision-making methods are generally applied in two steps, the first is to determine the criteria weights, and the second is to determine the company's performance. The CRITIC method was used to determine the weights and the SAW method was used to evaluate the alternatives. According to the results of the CRITIC, the criterion with the highest weight is determined as revenue per seat mile. According to the SAW results, Southwest Airlines is the best performer. When the analysis results and financial data of the companies were examined, it was concluded that Southwest's business model, market and healthy load factors enable the airlines to be successful.