THE EFFECT OF JET FUEL PRICE AND MACROECONOMICS VARIABLES ON PROFITABILITY OF AIRLINE INDUSTRY IN ASIA (Study at Airline Companies in Indonesia, India, and China Period 2006-2015) - Dimas Putra Pamungkas; Suhadak Suhadak (Fakultas Ilmu Administrasi Universitas Brawijaya, 2017)
Penelitian ini bertujuan untuk menjelaskan pengaruh harga avtur dan variabel ekonomi makro yang ditunjukkan dengan kurs, PDB, dan inflasi terhadap profitabilitas yang ditunjukkan dengan net profit margin (NPM) industri penerbangan di Asia periode tahun 2006-2015. Sampel dari penelitian yaitu maskapai penerbangan plat merah di Indonesia, India, dan Cina. Penelitian ini menggunakan jenis penelitian penjelasan dengan pendekatan kuantitatif dan analisis regresi linear berganda. Hasil penelitan ini menunjukkan bahwa: Harga Avtur, Kurs, PDB, dan Inflasi berpengaruh signifikan terhadap NPM semua sampel secara simultan; Harga Avtur berpengaruh signifikan negatif terhadap NPM PT. Garuda Indonesia, Tbk. secara parsial. Sebaliknya, Harga Avtur tidak berpengaruh signifikan terhadap NPM Air India, Ltd. dan Air China, Ltd. secara parsial; Kurs berpengaruh signifikan negatif terhadap NPM Air India, Ltd. dan Air China, Ltd. secara parsial. Sebaliknya Kurs tidak berpengaruh signikan terhadap NPM PT. Garuda Indonesia, Tbk. secara parsial; PDB berpengaruh signifikan positif terhadap NPM semua sampel secara parsial; dan Inflasi berpengaruh signifikan negatif terhadap NPM Air India, Ltd. dan Air China, Ltd. secara parsial. Sebaliknya, Inflasi berpengaruh signifikan positif NPM PT. Garuda Indonesia, Tbk. secara parsial. Kаtа Kunci: Harga Avtur, Ekonomi Makro, Nilai Tukar (Kurs), PDB, Inflasi, Profitabilitias, Net Profit Margin ABSTRACT This research is conducted to examine the effect of jet fuel price and macroeconomic variables (exchange rate, GDP, and inflation) on profitability represented by net profit margin (NPM) of airline industry in Asia period 2006-2015. The samples of this research are flag carriers of Indonesia, India, and China. This research used explanatory research type with quantitative approach and multiple linear regression analysis. The results of this research indicated that; Jet Fuel Price, Exchange Rate, GDP, and Inflation have significant effect on NPM of all airline companies simultaneously; Jet Fuel Price has significant negative effect on NPM of PT. Garuda Indonesia, Tbk. partially. In contrast, Jet Fuel Price has no significant effect on NPM of Air India, Ltd. and Air China, Ltd. partially; Exchange Rate has significant negative effect on NPM of Air India, Ltd. and Air China, Ltd. partially, In contrast, Exchange Rate has no significant effect on NPM of PT. Garuda Indonesia, Tbk. partially; GDP has significant positive effect on NPM of all airline companies partially; and Inflation has significant negative effect on NPM of Air India, Ltd. and Air China, Ltd. partially. In contrast, Inflation has significant positive effect on NPM of PT. Garuda Indonesia, Tbk. partially. Key words: Jet Fuel Price, Macroeconomic, Exchange Rate, GDP, Inflation, Profitability, Net Profit Margin