Analysis of The Altman Z-Score Method for Predicting Bankruptcy in PT AirAsia Indonesia Tbk

Marcela, Ni Kadek Dwi Yeni and Sudana, I Made and Sarjana, I Made (2022) Analysis of The Altman Z-Score Method for Predicting Bankruptcy in PT AirAsia Indonesia Tbk. Repositori Politeknik Negeri Bali.

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Abstract

Indonesia is currently experiencing a decline in economic growth due to the COVID-19 pandemic. Not only ordinary people who feel the impact, but big companies from various sectors. PT AirAsia Indonesia Tbk is a scheduled commercial airline company. The development of working capital and sales of the company PT AirAsia Indonesia Tbk decreased even negative in 2020 and 2021, which means if the working capital is negative thn the company is considered illiquid because it is unable to pay its short-term obligations. This study aims to calculate and determine the position of the company PT AirAsia Indonesia Tbk in 2019-2021 when analyzed using the Altman Z-Score method. This study uses a qualitative research with a descriptive approach, namely analyzing and interpreting the data obtained by using the company's financial statements. The results of the study indicate that the company PT AirAsia Indonesia Tbk in 2019, 2020 and 2021 is in a state of threat of bankruptcy because the Z value < 1.8. The financial condition of PT AirAsia Indonesia Tbk tends to be in the dangerous zone, this can be seen from the average Z-Score in 2019-2021, the ratio value shows Z < 1.8 which is -3.8144.

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