Avaliação do impacto da pandemia na perfomance financeira de empresas aéreas: uma análise das demonstrações das Empresas Azul, GOL e LATAM

Abstract

This study presents an analysis of the impact of the COVID-19 pandemic on airline finances. The study examines companies' financial statements over four years, between 2019 and 2022, identifying the evolution of financial health and contributing to investors in their decision-making. The Methodology, the multi-case study consisted of analyzing the financial statements of the airlines Azul, GOL, and LATAM, using data relating to the calendar year from 2019 to 2022. The results obtained in the study highlight the challenges faced, highlighting the significant fluctuations in the groups of assets and liabilities, including significant declines in revenue and net income during the peak years of the pandemic. The conclusions reached with the research highlight that companies have a high dependence on the use of Third-Party Capital and a high rate of short-term obligations, thus highlighting a higher financial cost. However, at the end of the research, it was realized how significant the effects of the coronavirus pandemic (COVID-19) were on Brazilian aviation and the need for a careful look at everyone who participates in this economic industry.