ANALYSIS OF AVIATION COMPANIES FROM A CASH PERSPECTIVE DURING THE PANDEMIC PERIODDEMIA

Authors

  • Eduardo Cezar de Oliveira Universidade Presbiteriana Mackenzie
  • Antônio Benedito Silva Oliveira FEA-USP
  • Juarez Torino Belli FEA-USP

DOI:

https://doi.org/10.61164/b2m4wd64

Keywords:

Operational Cycle; Financial cycle; Companies; Aviation; CashFlow.

Abstract

This article aimed to develop a quantitative and exploratory analysis of the effects of the pandemic on the cash flows and solvency indices of aviation companies and to understand the economic impacts caused in the airline sector. This study used financial and accounting data from several publicly traded companies on the main world stock exchanges during the period from 2011 to 2019, providing a broad view of the real situation that the Covid-19 pandemic caused in airlines and their finances. The study brought as a result through the use of Kanitz's thermometer theory that aviation companies with good financial situation during the nine-year period are out of the insolvency zone and further studies with privately held companies using other insolvency forecasting methodologies.

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Published

2025-11-19

Issue

Vol. 20 No. 2 (2025): REMUNOM - ISSN 2178-6925

Section

Artigos

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Copyright (c) 2025 Eduardo Cezar de Oliveira, Antônio Benedito, Juarez Belli

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How to Cite

ANALYSIS OF AVIATION COMPANIES FROM A CASH PERSPECTIVE DURING THE PANDEMIC PERIODDEMIA. (2025). REMUNOM, 20(2), 1-27. https://doi.org/10.61164/b2m4wd64