A REGIONAL ECONOMIC ANALYSIS OF AIRLINE COMPANIES IN COVID-19 WITH MONTE CARLO SIMULATION: ASIA - PACIFIC REGION

Asia-Pacific region especially is a developing region for airlines regarding competition, industrial development, and national perspective, COVID-19 had a destructive and re-definitive impact on the total aviation systems of the region. In this study, we aimed to perform a comprehensive analysis of the cumulative return of the airlines’ stock with some specific economic variables, such as currency exchange rates, LIBOR, and Brent oil returns for a selected period and Asia-Pacific Region. Our model was confirmed, and our findings supported the economic relationships. All variables of the study are in a relationship with a cumulative return out of the USD-AUD currency exchange rate statistically. There were three alternatives, and one of them was selected with Monte Carlo Simulation.