DOI: https://doi.org/10.32515/2663-1636.2019.2(35).208-215

Business Planning as an Element of Financial and Economic Analysis in the Context of Airline Crisis Management

Nadiia Kovalenko, Nataliia Stoliarchuk

About the Authors

Nadiia Kovalenko, Associate Professor, PhD in Pedagogu (Candidate of Pedagogical Sciences), Associate Professor Department of Management, Economics, Law and Tourism, Flight Academy of the National Aviation University, Kropyvnytskyi, Ukraine, E-mail: nadinkovalenko508@gmail.com

Nataliia Stoliarchuk, Senior Lecturer of the Department of Management, Economics, Law and Tourism, Flight Academy of the National Aviation University, Kropyvnytskyi, Ukraine, Е-mail: nadinkovalenko508@gmail.com

Abstract

The paper is devoted to the research exploring ways to apply elements of financial and economic indicators and business planning as a mechanism of crisis management, a well as the development of practical recommendations for improving the management of commercial activities of airlines in Ukraine in the modern market. Intercontinental integration of civil aviation entities and the transition to market conditions of operation regulate the new conditions of airlines. Most Ukrainian airlines are forced to operate in the absence of funds, an outdated fleet of aircraft, imperfect control, which consequently leads to the loss of the ability of airlines to operate effectively, being in a state of crisis. The article discusses and defines the methods of applying economic analysis and business planning as the main elements for assessing the financial and economic state of Ukrainian airlines in terms of crisis management. Practical recommendations are given on how to increase the effectiveness of the anti-crisis business management of commercial airlines in Ukraine in the context of European integration. The analysis of literary sources made it possible to specify that the problem of systematization and the development of assessment questions and crisis management of airlines using economic analysis and business planning is associated with the reflection of new trends in the development of world air transport. Ukrainian airlines do not use business planning as a system of financial and economic analysis of the state and crisis management, which does not meet the requirements of the practice of modern world aviation. The article proposes ways to use elements of financial and economic analysis and business planning as a mechanism for crisis management and the development of practical recommendations to improve the efficiency of commercial activities of Ukrainian airlines in modern conditions.

Keywords

airline, business plan, crisis management, integrative system of financial and economic indicators, strategic management, forecasting, bankruptcy, liquidation

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  9. Copyright (c) 2019 Nadiia Kovalenko, Nataliia Stoliarchuk