Ferreira, LeonorRosenberger, Angela Sara2023-08-252023-08-252022-01-172021-12-17http://hdl.handle.net/10362/156865The purpose of this Work Project is to investigate the short-term implications of the Covid-19 pandemic on the profitability, proxied by Return on Assets, of airlines by analysing the determinants of profitability, their magnitude, and variations in the period 2018-2020 using a cross-sectional regression analysis based on data retrieved from the consolidated financial statements of 44 global airlines. Statistical evidence suggests that the Covid-19 pandemic had an indisputably negative impact on the airline industry in 2020 causing variations in the hierarchy of profitability determinants. Cash and working capital management have emerged as crucial short-term objectives for managers during that year.engAirline industryFinancial statement analysisWorking capital managementProfitabilityCovid-19 pandemicCross-sectional analysisReturn on assetsOperating riskmaster thesis202997863