The financial performance of European airlines appears to be
improving faster under International Financial Reporting
Standards (IFRS) when compared with local European Union
Generally Accepted Accounting Principles (GAAP). This paper
examines how the accounting standards impact the financial
performance of the selected EU airlines. Each of the eleven EU
airlines operated in European countries and joined the European
Union before 2001. The researcher collected data from the
financial statements for the years 2001-2008. As the year of IFRS
convergence was 2005, the years 2001-2004 represent the pre-
IFRS convergence period, and the years 2005-2008 represent
the post-IFRS convergence period. The selected profitability
indicators were employed to measure the efficiency, productivity,
and return on investments for these entities. The resulting data
analysis provides evidence that the accounting system does not
impact the profitability of the selected airlines.
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