Abstract
Due to the sufficient openness of the Russian air transportation market, such factors as demand and investment activity, exchange rate fluctuations, economic sanctions against large companies and other unfavorable conditions lead to a slowdown (sometimes a decrease) in sales growth of Russian companies, weakening their economic position and financial stability. In this regard, it is necessary to study the conditions and opportunities for achieving sustainable growth, based on the example of Russian airlines using econometric modeling methods The solution of this problem requires the study of a system of economic and non-economic factors to achieve sustainable growth. It also requires an analysis of the industry specifics of air passenger transportation market to determine the main indicators of economic growth.
Highlights
Achieving sustainable growth for many companies in any industry, is an important requirement for economic success, especially in the face of falling demand, declining investment activity, currency fluctuations and other unstable economic conditions.During general economic downturn the lack of sustainable growth has a negative impact on the development of companies, which leads to a decrease in shareholder income and can lead to bankruptcy of companies
To assess whether the growth of airlines corresponds to their potential capabilities the models of sustainable growth of Higgins (Higgins, 1977), BCG (Zakon, 1986), Van Horn, James (Van Horn & James, 1998), Ulrich, and Arlow (Ulrich & Arlow, 1980) were used
Sustained growth is the maximum speed at which a company can increase sales without running out of financial resources (Lan, Yang & Tseng, 2019). This determines the possible growth rate of revenue or profit, which is provided with resources, provided that the key indicators of the company's operating, financial policy are constant (Voloshina, Zaharova, Kartashev, & Ulanova, 2019)
Summary
Achieving sustainable growth for many companies in any industry, is an important requirement for economic success, especially in the face of falling demand, declining investment activity, currency fluctuations and other unstable economic conditions.During general economic downturn the lack of sustainable growth has a negative impact on the development of companies, which leads to a decrease in shareholder income and can lead to bankruptcy of companies. Achieving sustainable growth for many companies in any industry, is an important requirement for economic success, especially in the face of falling demand, declining investment activity, currency fluctuations and other unstable economic conditions. Since 2014, due to the increasing losses caused by the decline in passenger traffic and the general decline of the Russian economy, the air transport sector has experienced a difficult economic situation. This has had a negative impact on the sustainability and prospects for further development of companies in the industry. Financial and economic stability and achieving sustainable growth are important conditions for existence and development of many companies in any industry. Sustainability factors are relevant in the context of falling demand, declining investment activity, currency exchange fluctuations and other negative factors (Ponomarenko, Fedoseev, Korotkiy & Belitskaya, 2016)
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