Performance Evaluation of Traditional and Lcc Airlines under the Impact of COVID-19 Pandemic: A Case Study on the European Airline Market

The objective of this study is to investigate the effects of the Covid-19 pandemic on the multidimensional performance of companies operating in the European airline transport sector. In Addition is to compare multidimensional performance of Traditional and LCC (Low Cost Carrier) airlines in the European airline transport sector across the pre-pandemic, pandemic and post-pandemic periods. In this context, the multidimensional performance of 11 airlines (6 Traditional and 5 LCC) operating in Europe for the period 2019–2022 is analysed using the LOPCOW-based AROMAN method. In the initial stage of the analysis, the variables pertaining to the airlines were weighted using the LOPCOW method. The results of the analysis, conducted using the LOPCOW method, indicated that the Total Debt and Greenhouse Gas Emission (GHG) variables were of critical importance in determining the performance of the airlines in question. In the second stage of the study, the performance ranking of the airlines in question was carried out using the AROMAN method. The results of the ranking, as determined by the AROMAN method, indicate that the large-scale traditional airlines (Lufthansa, Air France-KLM, Turkish Airlines, and IAG) have demonstrated superior performance compared to the LCC airlines during the period spanning 2019 to 2022. <br />Implications for Central European audience: It is anticipated that the findings of the study will significantly contribute to the field of performance management in the European airline industry. Furthermore, they will provide airline managers and other stakeholders in the European air transport sector with insights that can be used to enhance the performance of airlines during crises, such as the recent pandemic caused by Covid-19.