Turbulence beyond the skies: an integrated analysis of crisis propagation in the global aviation industry

Pulkit Priyadarshi (), Anulaya Khare (), Shiva Upman () and Pratap Chandra Mandal ()
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Pulkit Priyadarshi: Indian Institute of Technology
Anulaya Khare: Indian Institute of Technology
Shiva Upman: Indian Institute of Technology
Pratap Chandra Mandal: Indian Institute of Management

Journal of Transportation Security, 2025, vol. 18, issue 1, No 28, 16 pages

Abstract: Abstract Aviation disasters create multiple shocks within the global aviation system. This study examines the complicated connections of crisis impacts from 2015 to mid-2025. It develops a combined model of crisis spread using a practical mixed-methods approach that merges event-study analysis with qualitative thematic analysis. The findings show significant and varied market reactions to crashes, with an average equity decline of 3.2%. The study also highlights GNSS interference as a growing threat and extreme volatility in the insurance market. Reputational damage from social and governance failures can be as financially harmful as accidents. The study recommends the formation of integrated crisis teams and emphasizes the importance of proactive risk and safety management strategies. By highlighting a disparity between public perception and safety statistics, social repercussions erode trust. Future research ought to look at the long-term psychological impacts as well as the wider economic repercussions.

Keywords: Safety management; Risk management; Aviation disaster; Cybersecurity threats; Risk pricing; Global navigation satellite system (GNSS) (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s12198-025-00320-z

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