ROMANIAN JOURNAL OF ECONOMIC FORECASTING, vol.23, no.2, pp.149-172, 2020 (SSCI)
The main objective of this study is to develop a multiple-criteria decision-making (MCDM) model in order to evaluate the operational performance of airlines operating in emerging markets. In this respect, the manuscript proposes a hybrid multiple-criteria decision-making model based on the integration of the PIPRECIA (PIvot Pairwise RElative Criteria Importance Assessment) and MAIRCA (MultiAttributive Ideal-Real Comparative Analysis) methods. In the proposed model, the PIPRECIA method was used to determine the criteria weights and the MAIRCA method was used to rank alternatives. In order to demonstrate the applicability of the proposed model, a real-life case study was also conducted on the operational performance of 11 airlines in emerging markets. Furthermore, after the application, a sensitivity analysis was conducted in order to ensure the stability of the application and the robustness was confirmed. As a result of the study, the most important performance criterion is found to be operating costs.