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Turbulence beyond the skies: an integrated analysis of crisis propagation in the global aviation industry

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Listed:
  • Pulkit Priyadarshi

    (Indian Institute of Technology)

  • Anulaya Khare

    (Indian Institute of Technology)

  • Shiva Upman

    (Indian Institute of Technology)

  • Pratap Chandra Mandal

    (Indian Institute of Management)

Abstract

Aviation disasters create multiple shocks within the global aviation system. This study examines the complicated connections of crisis impacts from 2015 to mid-2025. It develops a combined model of crisis spread using a practical mixed-methods approach that merges event-study analysis with qualitative thematic analysis. The findings show significant and varied market reactions to crashes, with an average equity decline of 3.2%. The study also highlights GNSS interference as a growing threat and extreme volatility in the insurance market. Reputational damage from social and governance failures can be as financially harmful as accidents. The study recommends the formation of integrated crisis teams and emphasizes the importance of proactive risk and safety management strategies. By highlighting a disparity between public perception and safety statistics, social repercussions erode trust. Future research ought to look at the long-term psychological impacts as well as the wider economic repercussions.

Suggested Citation

  • Pulkit Priyadarshi & Anulaya Khare & Shiva Upman & Pratap Chandra Mandal, 2025. "Turbulence beyond the skies: an integrated analysis of crisis propagation in the global aviation industry," Journal of Transportation Security, Springer, vol. 18(1), pages 1-16, December.
    • Handle: RePEc:spr:jtrsec:v:18:y:2025:i:1:d:10.1007_s12198-025-00320-z
    DOI: 10.1007/s12198-025-00320-z
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