ANALYSIS OF MARKET RISKS IN THE DEVELOPMENT OF AN AIRLINE’S RISK MANAGEMENT SYSTEM

This article is devoted to the analysis of market risks for the development of an effective risk management system in an airline to increase its resilience to crisis situations, as well as minimize the impact of risks on its operations. The study is based on the hypothesis that the effectiveness of implementing a risk management system in the airline directly depends on the quality of the analysis of key production processes. The purpose of the study is to analyze market risks as part of the development of an effective risk management system in the air company to increase its resilience to crisis situations, as well as minimize the impact of risks on its activities. The methodological basis of the study was qualitative and quantitative methods, which assume: 1) construction of the airline's basic production process; 2) formation of the airline's risk register; 3) construction of the airline's risk heat map; 4) formation of an ontological scheme of the stakeholders register for risk management. As a result of the research, key aspects for the development of risk management in airlines have been identified. The integration of risk management systems with quality and safety management systems, digitalization will help to improve the quality of risk analysis, improve decision-making processes in airlines, and adapt to new market requirements.