Financial Competitiveness and Business Activity of Aviation Enterprises and Ways to Support Them in Martial Law

It has been established that financial competitiveness and business activity are key indicators of efficiency and conditions for the survival and development of Ukrainian aviation enterprises in conditions of war, global market changes, and modernization needs. It is shown that the financial competitiveness of an aviation enterprise is its ability to survive, develop in difficult market conditions, and also to increase financial potential in a favorable environment. It is substantiated that the business activity of an aviation enterprise is a set of indicators that characterize the ability of the enterprise to effectively use its resources to carry out economic activities, generate income, and ensure profitability growth in conditions of high competition and external risks. It is shown that business activity is the key to the sustainable functioning of an aviation enterprise. It determines its adaptability, ability to grow, level of competitiveness and financial stability. Weaknesses of Ukrainian aviation enterprises have been identified, starting from 2020, which are: chronic shortage of working capital, high depreciation of aviation equipment, limited access to long-term financing, low level of innovative investments, limited presence in international markets, decline in passenger traffic due to war and COVID-19. A SWOT analysis of the financial competitiveness of aviation enterprises was conducted, which reflects their strengths and weaknesses, as well as external opportunities and threats to sustainable development, using the example of JSC Antonov. Disincentives to the development of the aviation industry under martial law have been identified, represented by the closure of airspace, threat to infrastructure, loss of income, forced migration of personnel, and frozen leasing contracts. The directions of supporting the operational activities of Ukrainian air carriers and airports under martial law and closed skies are substantiated. It is proven that the critically important task is to preserve the aviation industry, personnel, infrastructure and prepare for the post-war recovery of the air transportation market. It is argued that investments in the country’s aviation industry will support its logistical, economic, and security functions, as well as ensure the strategic future of the development of the national economy.