О. Kostiunik. By evaluating the investment attractiveness of airlines.

Abstract

The features of aviation enterprises are characterized by the necessity of large long-term investments, that puts before guidance the task of development of effective mechanisms of estimation them investment attractiveness. The aim of the article is further development of теоретико-методичних principles of estimation an investment by the attractiveness of enterprise by means of the credit rating. One of instruments of co-operation of investors and creditors a rating estimation, that is important informative means, indicator and instrument of support of business relationships, comes forward with enterprises. Thus, for an investor the credit  rating of international rating agencies is the estimation of financial reliability, risk of bankruptcy, solvency et cetera.  For the estimation of investment attractiveness of enterprises methodical approach is offered in relation to determination of the credit rating of aviation enterprise on the basis of determination of the credit rating. This approach consists of three stages that is bound by inter se successive copulas : informative, analytical and developments of administrative suggestions.  The informative stage performs the preparatory duty, the accumulation of information becomes his main task on enterprises that have rating. On the analytical stage the credit rating of enterprise is determined. For this purpose it is suggested to use neural networks that allow to conduct the analysis of large arrays of information and search of the hidden conformities to law. On the stage of development of administrative suggestions  development of complex of the administrative decisions at tactical and operative level, aimed at the increase of rating, comes true. The instrument of effective co-operation of enterprise and investor is offered for help the use of the credit rating, through development of model of determination of the credit rating and integration of her in the administrative system, that allows to the enterprise to work out a task at every level of management and promote the investment attractiveness.