Financial Efficiency Analysis the Malmquist TFP Method: An Application on Star Alliance Member Airlines

The purpose of this study is to analyze the financial efficiency of 15 airlines that are members of the Star Alliance which is considered the largest international strategic airline network for the period 2016-2019 using the Malmquist Total Factor Efficiency method. In addition, other purposes include the comparison of the change in technical efficiency (TE), technological change (TD) and total factor productivity (TFP) values of airlines that are members of the Star Alliance As a result of the analysis, it was found that the average technological change and total factor productivity values of the airlines in question increased in the period 2016-2017, and the average technical efficiency values decreased. On the other hand, in the period 2017-2018, the opposite situation was observed. In the period 2018-2019, technical efficiency, technological change and total factor productivity values decreased. It was found that the technical efficiency values of the Air Canada and Turkish Airlines increased during the entire period, while the average technical efficiency, technological change and total factor productivity values of the Air New Zealand, Asiana Airlines, Avianca, Lufthansa and Thai Airways decreased.