| Civil aviation enterprises are the pillar industries that promote the development of my country’s aviation industry.After entering the 21 st century,my country’s civil aviation enterprises have shown a rapid development trend,their scale has been continuously expanded,their strength has been greatly improved,and they have strong competitiveness in the international market.Civil aviation enterprises have a huge demand for capital and rely on financing leverage for their own development.Facing the impact of the epidemic externally,and facing financing difficulties internally.H Aviation,which is expanding with a high-debt financing model,is gradually showing drawbacks.Now it is facing a break in the entire enterprise capital chain.Crisis,and even in a state of bankruptcy and reorganization.Therefore,this paper takes H Airlines as an example to comprehensively analyze its financing methods,find out the unreasonable aspects of the existing financing structure,find out the causes and propose countermeasures.It is hoped that on the basis of the research on the financing structure of H Airlines,it can provide a reference for the optimization of the financing structure of relevant civil aviation companies,gradually enhance the awareness of risk control of civil aviation enterprises,formulate a scientific financing mechanism,improve the financing structure,reasonably control the debt ratio,and expand financing channels,to achieve the sustainable development of civil aviation enterprises.In the exploration of the financing structure of H airline,this paper adopts a diversified method to explore.Firstly,through the literature analysis method to obtain materials related to the theme of this article,to sort out the financing structure and methods,and obtain sufficient theoretical basis to better meet the needs of the analysis below;thirdly,it makes a detailed analysis from three aspects of debt financing,equity financing and supply chain financing to grasp the existing problems of H airline financing.And analyze the causes;When Airline H was financing,it relied too much on debt financing,and the proportion of short-term loan financing was too large,and the way of borrowing with mortgage assets was over-utilized,resulting in huge pressure to repay debts,so that the capital chain broke,and even triggered bankruptcy reorganization crisis.Second,the financing methods are limited,and internal financing,equity financing and other methods are not effectively used,which aggravates the unreasonable financing structure.Third,there is no good financial early warning mechanism established,and the awareness of risk prevention is insufficient,which cannot well assist the optimization of the financing structure strategy.Aiming at the financing problems of H Airlines,this paper believes that it can be solved by increasing supply chain financing,optimizing the structure of debt financing,seeking government investment,introducing new investors.In addition,the research in this paper can also provide a reference for similar companies to explore the financing structure and formulate financing strategies. |