A Profitability Analysis of Air Navigation Service Providers in European Zone: COVID-19 Crisis

Abstract

The civil aviation sector is important for the logistics system. Besides, Air Navigation Service Providers (ANSP) are one of the main parts of the total civil aviation system. This study is about their profitability structure and assessment of performance. Out of the general and classical ratios such as ROA and ROE, authors utilized 13 different profitability ratios to understand the general picture of ANSP in the context of profitability performance by using GRA and MABAC methods. Analysis were made for 34 airport service providers from different countries with annual data between 2017 and 2020. The findings show that COVID-19 crisis has got a deep impact on ANSP’s profitability structures in general and by firms. Besides it is seen that the most profitable companies are Turkish, Georgian and Estonian ANSP.