Avaliação econômica e financeira da aviação comercial brasileira no período pré e pós-pandemia no século XXI

Abstract

Crises are part of the history of commercial aviation, with one of the most striking being the crisis caused by COVID-19, which had significant effects on the economic and financial scenario of companies in this century. This study is aimed at evaluating the economic and financial performance of commercial aviation companies in Brazil between 2018 and 2022, both before and after the COVID-19 pandemic. The analysis in this study was conducted through financial statements, using horizontal, vertical, and ratio analysis to obtain the economic and financial indicators of the 3 main commercial airlines in the sector: Azul Linhas Aéreas Brasileiras, Gol Linhas Aéreas Inteligentes, and Latam Airlines Brasil. The evaluated indicators demonstrate a negative impact on liquidity, capital structure ratios, and profitability indicators of the evaluated companies, representing a challenge for the aviation sector in post-COVID-19 economic and financial recovery. The airlines in the transportation sector in Brazil play a fundamental role in national development, and the study highlights the need for government emergency measures to enable or even facilitate the rehabilitation of the aviation sector, concerning transportation companies, which are of utmost importance to the country's economy.