The aim of this study is to investigate which financial variables increases or decreases the risk bankruptcy airlines during periods crisis when there a possibility distress. In study, that affect distress in and were analyzed. framework data from 35 examined. We employed Altman (1968) Z-score, Springate (1978) S-score Zmijewski (1984) J-score prediction models. findings indicate times crisis, ...

The U.S. airline industry went through tremendous turmoil in the early 2000’s. There were four major bankruptcies and two major mergers, with all legacy carriers reporting a large profit reduction. This paper presents a structural model of the airline industry, and estimates the impact of demand and supply changes on profitability. We find that, compared with the late 1990s, in 2006, a) air-tra...