Analysis of the Impact of the Covid-19 Pandemic on Turkish Airlines and Pegasus Airlines: An Event Study Method

Semih Büyükipekçi; Sevda Uçdu

Makale detayları

Analysis of the Impact of the Covid-19 Pandemic on Turkish Airlines and Pegasus Airlines: An Event Study Method

Yazarlar:

Semih Büyükipekçi | Sevda Uçdu

Yayıncı:

Selcuk University

Ana Başlıklar:

Turizm (Diğer)

Dergi:

Çatalhöyük Uluslararası Turizm ve Sosyal Araştırmalar Dergisi Issue 13, pp.78-89

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001337083

pISSN:

2548-0588

Anahtar kelimeler:

Özet:

 Covid-19 has caused negative effects across many sectors. One of the sectors affected by these adversities is the aviation sector. The pandemic has impacted the aviation industry from social, economic, and political perspectives. Due to the pandemic, air transportation in many countries was suspended, and restrictions were imposed on international travel. In response to these negative circumstances, airline companies implemented various measures to minimize the damage. Through actions such as layoffs and unpaid leave, airlines attempted to maintain their operations during this crisis. In this study, the reactions of Turkish Airlines and Pegasus Airlines, both listed on the BIST 100, were analyzed using the event study method during the Covid-19 period. The first day a Covid-19 case was detected in Turkey was accepted as day 0, and the analysis was conducted using a window of 5 and -5 days from the event date. Based on the analysis, hypotheses were developed, and the null hypothesis H0 was accepted. The findings indicate that the event day had a significant impact on the companies stock prices, and this effect was negative.

 Covid-19 has caused negative effects across many sectors. One of the sectors affected by these adversities is the aviation sector. The pandemic has impacted the aviation industry from social, economic, and political perspectives. Due to the pandemic, air transportation in many countries was suspended, and restrictions were imposed on international travel. In response to these negative circumstances, airline companies implemented various measures to minimize the damage. Through actions such as layoffs and unpaid leave, airlines attempted to maintain their operations during this crisis. In this study, the reactions of Turkish Airlines and Pegasus Airlines, both listed on the BIST 100, were analyzed using the event study method during the Covid-19 period. The first day a Covid-19 case was detected in Turkey was accepted as day 0, and the analysis was conducted using a window of 5 and -5 days from the event date. Based on the analysis, hypotheses were developed, and the null hypothesis H0 was accepted. The findings indicate that the event day had a significant impact on the companies stock prices, and this effect was negative.

 Covid-19 has caused negative effects across many sectors. One of the sectors affected by these adversities is the aviation sector. The pandemic has impacted the aviation industry from social, economic, and political perspectives. Due to the pandemic, air transportation in many countries was suspended, and restrictions were imposed on international travel. In response to these negative circumstances, airline companies implemented various measures to minimize the damage. Through actions such as layoffs and unpaid leave, airlines attempted to maintain their operations during this crisis. In this study, the reactions of Turkish Airlines and Pegasus Airlines, both listed on the BIST 100, were analyzed using the event study method during the Covid-19 period. The first day a Covid-19 case was detected in Turkey was accepted as day 0, and the analysis was conducted using a window of 5 and -5 days from the event date. Based on the analysis, hypotheses were developed, and the null hypothesis H0 was accepted. The findings indicate that the event day had a significant impact on the companies stock prices, and this effect was negative.

 Covid-19 birçok sektörde olumsuz etkilere sebep olmuştur. Bu olumsuzluklardan etkilenen sektörlerden biri de havacılık sektörü olmuştur. Salgın, havacılık sektörünü sosyal, ekonomik ve politik yönden etkilemiştir. Salgın nedeniyle dünya ülkelerinde havayolu taşımaları askıya alınmış ve ülkelere giriş çıkışlara sınırlamalar getirilmiştir. Havayolu şirketleri bu olumsuz durumdan en az hasarla çıkmak için kendi içinde pek çok tedbir almıştır. İşçi çıkarma, ücretsiz izin gibi tedbirlerle havayolu şirketleri bu kriz döneminde varlığını korumaya çalışmıştır. Çalışmada Covid-19 döneminde BİST 100de işlem gören Türk Hava Yolları ve Pegasus Hava Yolları şirketlerinin tepkileri olay çalışması yöntemi kullanılarak analiz edilmiştir. Türkiyede ilk Covid-19 vakasının görüldüğü gün 0. gün kabul edilmiş ve olay tarihinden 5, -5 gün alınarak analiz yapılmıştır. Yapılan analiz sonucunda hipotezler oluşturulmuş ve bu oluşturulan hipotezlerden H0 hipotezi kabul edilmiştir. Elde edilen sonuçlara göre olay gününün şirketlerin hisse senetleri üzerinde etkisi vardır ve bu etki olumsuz yönde gerçekleşmiştir sonucuna ulaşılmıştır.

Makale detayları

Analysis of the Impact of the Covid-19 Pandemic on Turkish Airlines and Pegasus Airlines: An Event Study Method

Yazarlar:

Semih Büyükipekçi | Sevda Uçdu

Yayıncı:

Selcuk University

Ana Başlıklar:

Turizm (Diğer)

Dergi:

Çatalhöyük Uluslararası Turizm ve Sosyal Araştırmalar Dergisi Issue 13, pp.78-89

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001337083

pISSN:

2548-0588

Event study

Turkey

Turkish Airlines

Pegasus Airlines

Covid-19 pandemic.Olay Çalışması (event study)

Türkiye

Türk Hava Yolları

Pegasus Hava Yolları

Covid-19 Salgını.

Sayı

Makale detayları

Yazarlar: Semih Büyükipekçi | Sevda Uçdu

Yayıncı: Selcuk University

Ana Başlıklar: Turizm (Diğer)

Dergi: Çatalhöyük Uluslararası Turizm ve Sosyal Araştırmalar Dergisi Issue 13, pp.78-89

Belge Tipi: Makale

Yayın Tarihi: 12/2024

Belge Dili: Türkçe

Document ID (Org No.): 2001337083

pISSN: 2548-0588

Sayı

Yazarlar:

Semih Büyükipekçi | Sevda Uçdu

Yayıncı:

Selcuk University

Ana Başlıklar:

Turizm (Diğer)

Dergi:

Çatalhöyük Uluslararası Turizm ve Sosyal Araştırmalar Dergisi Issue 13, pp.78-89

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001337083

pISSN:

2548-0588