Detection of Financial Distress in Air Transportation Companies Registered in BEI Before and During Covid-19

Abstract

Financial distress analysis aims to identify and analyze financial distress in air transportation companies listed on the Indonesia Stock Exchange before and during Covid-19 with two airlines in Indonesia with CMPP and GIAA issuer codes. The research method used is descriptive method with a quantitative approach. The data used is secondary data in the form of company financial reports as objects of research for the period 2016 to 2021. Data analysis uses the Altman Z-Score model with the formula for calculating four financial ratios. The results of the study show that before and during Covid-19, CMPP and GIAA issuers were in a position of financial distress or entered a distress zone with a Z-Score value of less than 1.10 (Z <1.10)