Financial analysis demonstrates superior stability among low-cost carriers in Russian aviation, indicating greater resilience than full-service airlines during pandemic shocks.
Key Points
Low-cost carriers maintained greater financial stability during the COVID-19 crisis, whereas full-service airlines experienced sharp declines in both profit and passenger traffic.
Assessment using bankruptcy likelihood prediction models across four distinct airline business models evaluated operating performance across 2019, 2020, and 2021.
Regional differences in financial stability highlight the need for broader international validation, as carrier resilience under severe operational disruptions remains highly debated.