Advances in Economics, Management and Political Sciences

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Proceedings of the 7th International Conference on Economic Management and Green Development

Series Vol. 36 , 10 November 2023


Open Access | Article

Research on the Economic Impact of Air Disasters on Airlines

Hongyu Tu * 1
1 University of Waterloo

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 36, 45-52
Published 10 November 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Hongyu Tu. Research on the Economic Impact of Air Disasters on Airlines. AEMPS (2023) Vol. 36: 45-52. DOI: 10.54254/2754-1169/36/20231774.

Abstract

This research project investigates the impact of uncontrollable factors on companies, which can include natural disasters, political instability, and global pandemics. This paper focuses on the impact of an air crash on airline companies, this uncontrollable factor has significant consequences for the financial, operational, and reputational aspects of airlines, and understanding the impact is crucial for developing effective strategies to mitigate them. The study utilizes a mixed-methods approach, combining quantitative analysis of airline data with a special case study of the air crash that happened on the Eastern Airline, to provide a comprehensive analysis of the topic. The research findings reveal that uncontrollable factors can lead to the loss of reputation, reduced customer demand, and facing operational disruptions. The public's perception of the airline's safety record will be negatively impacted, which can result in a loss of customer trust and loyalty. Following an air crash, people may be hesitant to fly with the airline, resulting in a reduction in demand for their services. The significance of this research lies in its contribution to the understanding of the impact of uncontrollable factors on airlines, especially the impact of an air crash on an airline company. Even in an air crash due to factors beyond human control, people still try to avoid flying or flying with the same company for a period of time after the accident.

Keywords

uncontrollable factors, plane crashes, airlines, economic impact

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 7th International Conference on Economic Management and Green Development
ISBN (Print)
978-1-83558-093-6
ISBN (Online)
978-1-83558-094-3
Published Date
10 November 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/36/20231774
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated