Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2142259
The impact of COVID-19 pandemic on air transport: the case of Virgin Australia airlines
Reena Agrawal
Mendon Suhan
Qaiser Rafique Yasser
Cristi Spulbar
Ramona Birau
Lorena Duduiala Popescu
Sažetak
This research study scrutinized the financial signs that were overlooked
or were failed to be controlled by Virgin Australia from 2012
through 2019. Empirical research was done based on secondary data
retrieved from the annual reports of the company. The annual
reports of the company were analyzed in a multi-dimensional manner
using financial analysis tools and instruments. The finds of this
research demonstrate that it was not merely the Covid-19 pandemic,
which pushed the world’s oldest airlines into bankruptcy but there
existed numerous critical issues within the company. Virgin
Australia’s financial statements revealed fifteen alarming indicators
which were overlooked by the company. Right from operating revenue,
operating expenses, profit margins, to current and liquid ratio
all eleven indicators were hugely adverse since last eight years continuously.
The outbreak of the Covid-19 pandemic forced lockdown
across nations and the aviation industry was the worst hit amid the
global turmoil. This proved fatal for Australia’s second-largest carrier
which was already ailing from financial distress for the last several
years and thus the company had to file bankruptcy.
Ključne riječi
Operating revenue; operating expenses; aviation industry; COVID-19 pandemic; profit margins; current ratio; liquid ratio; sustainable development; economic sustainability
Hrčak ID:
306722
URI
Datum izdavanja:
30.4.2023.
Posjeta: 272 *