南方航空公司融资风险及其防范研究

发布时间：2019-01-02 15:04

【摘要】：近年来，伴随着中国航社会经济的高速发展，中国航空运输业也呈现着蓬勃的发展态势。在航空运输业激烈的市场竞争中，各大航空公司为了扩大生产规模的需求和增强自身的竞争实力，纷纷借助融资渠道来获得宝贵的资金资源。只有源源不断的现金流才能维持公司正常的经营管理活动，并成为公司盈利的基础。然而，公司融资给航空公司带来正面效用的同时，也会造成融资风险等负面影响，一旦航空公司没有合理的运用或者管理融资资金就会产生不可估量的融资风险，导致公司减少盈利收入，甚至陷入财务危机与破产。本文以南方航空公司为例，详细分析南方航空公司的主要融资风险，对比南航与西方航空公司的融资结构与状况，并提出相对应的风险防范措施。本文一共分为六个章节。第一章是绪论部分，主要介绍了研究背景与意义、国内外研究现状、论文的研究思路以及主要创新点与不足。第二章是航空公司融资风险产生原因及类型分析部分，主要阐述了航空公司在融资现状、融资项目类型、融资风险缘以及融资风险防范的必要性。第三章分析南航主要的三大融资风险类型——飞机租赁风险、债权融资与股权融资，并深入地分析上述融资风险特征与成因。第四章引用部分西方航空公司进行对比，分析研究南航与西方航空公司融资方式及其风险防范的不同点，探索西方航空融资方式与风险防范措施的可取之处。第五章是针对上文中的风险分析,基于国内外相关文献所提供的风险管理模型与技术方法，提出相对应的融资风险管理与控制对策。最后是结论部分,主要总结本文的研究论点。本文研究旨在帮助南航以及中国其他航空公司正确应对自身存在的融资风险，以期帮助其在国内外经营活动中取得竞争优势。
[Abstract]:In recent years, with the rapid development of China's aviation society and economy, China's air transport industry is also showing a vigorous development trend. In the fierce market competition of air transportation, in order to expand the demand of production scale and enhance their own competitive strength, the major airlines have to rely on financing channels to obtain valuable capital resources. Only continuous cash flow can maintain the company's normal management activities and become the basis of the company's profits. However, while the company financing brings positive effects to airlines, it will also cause negative effects such as financing risks. Once airlines do not use or manage their financing funds reasonably, there will be incalculable financing risks. Causes the company to reduce the profit income, even falls into the financial crisis and the bankruptcy. Taking Southern Airlines as an example, this paper analyzes in detail the main financing risks of Southern Airlines, compares the financing structure and situation between Southern Airlines and Western Airlines, and puts forward corresponding risk prevention measures. This paper is divided into six chapters. The first chapter is the introduction part, mainly introduces the research background and significance, the domestic and foreign research present situation, the thesis research thought as well as the main innovation point and the insufficiency. The second chapter is the analysis of the causes and types of airline financing risk. It mainly expounds the status quo of financing, the type of financing project, the margin of financing risk and the necessity of financing risk prevention. The third chapter analyzes the three main financing risk types of China Southern Airlines-aircraft leasing risk, debt financing and equity financing, and deeply analyzes the characteristics and causes of these financing risks. Chapter four compares some western airlines, analyzes the differences between China Southern Airlines and Western Airlines and explores the advantages of western aviation financing methods and risk prevention measures. The fifth chapter is aimed at the above risk analysis, based on the risk management model and technical methods provided by domestic and foreign related literature, put forward the corresponding financing risk management and control countermeasures. Finally is the conclusion part, mainly summarizes the research argument of this article. The purpose of this study is to help China Southern Airlines and other Chinese airlines deal with their own financing risks in order to help them gain a competitive advantage in their domestic and foreign business activities.
【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F562.6;F560.68

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