The business model has become the new challenge in external reporting. It is increasingly used in International Financial Reporting Standards and non-financial reporting. In an era of global crisis, enterprises are changing their business models. This article presents the consequences of the evolution of business models within the airline sector in a period of economic crisis and the reflection of changed business models in annual reports. The conclusions summarize information about the

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... models disclosed in annual reports of selected airlines. The business model is increasingly popular in management. Casadesus-Masanell and Ricart summarize this concept as the logic of a company, the way it operates, and how it creates value for its stakeholders. In this con-