IFRS 16 - Leases and it's Impact on the Airline Industry

This paper will examine how the IFRS 16 has impacted commercial airline companies and the current situation with COVID-19. It is evident that the companies have made significant adjustments and changes to IFRS 16 implementation and with the current COVID-19 situation. Our objective is to consider various perspectives to determine the positive and negative impacts of IFRS 16 in the companies' annual financial statements. There were discussions from the presumptions of primary and secondary research, with a heavy focus on the impact of the IFRS 16 on the financial reporting, methods, and procedure. We also discussed how the current COVID-19 pandemic situation has come into an important role and what impacts have caused the commercial airline companies' financial reports, and additional adjustments on the standard. We concluded the research paper on the thesis proposed based on our standpoint.