Multiple-Criteria Approach of the Operational Performance Evaluation in the Airline Industry: Evidence from the Emerging Markets

Mahmut Bakir (), Şahap Akan (), Kasım Kiraci (), Darjan Karabasevic (), Dragisa Stanujkic () and Gabrijela Popovic ()
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Mahmut Bakir: Graduate School of Social Sciences, Anadolu University, Eskisehir, Turkey.
Şahap Akan: Graduate School of Social Sciences, Anadolu University, Eskisehir, Turkey.
Kasım Kiraci: Faculty of Aeronautics and Astronautics, Iskenderun Technical University, Hatay, Turkey.
Darjan Karabasevic: Faculty of Applied Management, Economics and Finance, University Business Academy in NoviSad, Belgrade, Serbia.
Dragisa Stanujkic: Technical Faculty in Bor, University of Belgrade, Bor, Serbia.
Gabrijela Popovic: Faculty of Applied Management, Economics and Finance, University Business Academy in Novi Sad, Belgrade, Serbia.

Journal for Economic Forecasting, 2020, issue 2, 149-172

Abstract: The main objective of this study is to develop a multiple-criteria decision-making (MCDM) model in order to evaluate the operational performance of airlines operating in emerging markets. In this respect, the manuscript proposes a hybrid multiple-criteria decision-making model based on the integration of the PIPRECIA (PIvot Pairwise RElative Criteria Importance Assessment) and MAIRCA (MultiAttributive Ideal-Real Comparative Analysis) methods. In the proposed model, the PIPRECIA method was used to determine the criteria weights and the MAIRCA method was used to rank alternatives. In order to demonstrate the applicability of the proposed model, a real-life case study was also conducted on the operational performance of 11 airlines in emerging markets. Furthermore, after the application, a sensitivity analysis was conducted in order to ensure the stability of the application and the robustness was confirmed. As a result of the study, the most important performance criterion is found to be operating costs.

Keywords: airline performance; emerging markets; PIPRECIA method; MAIRCA method; MCDM (search for similar items in EconPapers)
JEL-codes: D81 L93 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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