Eureka! Institutional Repository

Air transport is an integral part of the growth of Greece’s economy through their world’s leading tourism sector, as well as the social cohesion of the Greek citizens. For this reason, this thesis is primarily intended to carry out a detailed financial analysis for the aviation industry to show its importance. Of course, in order to make a proper description of the industry, it is necessary to apply a multi-parameter analysis. Initially we will present a historical analysis of how the industry has been moving locally from decade to decade. After that, the contribution of the sector to tourism and the Greek economy will be presented. To continue, the quantitative data of the sector will be presented through demand and supply analysis. In addition for an illustration of better quality it is important to use SWOT analysis, or else strengths, weaknesses, opportunities and threats, and to use the model of Porter’s five forces for this industry. Thanks to this, we will display a more comprehensive picture of the strengths and weaknesses of this industry. Finally, to complete a task of this level, it is necessary to have a case analysis. Specifically, there will be a longitudinal comparative analysis of the financial results of two companies in the sector. One of these is the Aegean Airlines, which is the largest aviation company in Greece and they merged in 2013 with the second largest, which was Olympic Airlines. The second is one of the smaller airline companies called Sky Express based in Heraklion, Crete. More specifically there will be the analysis of the various financial indicators within the five year period from 2015 to 2019 in order to show the growth or lack thereof in the two companies and to see which of them is more effective and why. Keywords: