According to estimates, the air transport sector lost revenues of 273 billion dollars in 2020, and it seems that the recovery period for the air transport sector will be long in light of the expected reluctance to travel, and the expected rise in the cost of flying, which requires the need to restructure the air transport market in the world.
What are the impacts of the Corona virus Covid-19 crisis on the Air Transport sector in World, and what are the possible recovery policies?
Dear Othmane To prevent the spreading of the COVID-19🦠😷 almost all the countries ban air transport between the countries and even within the country. The consequence of this air transport sector lost more than 250 billion dollars
To overcome financial loss, (a) bilateral and/or multilateral agreement maybe made between concerned authorities, and developing an attractive package for Air Travelers such as price, tourist spots, food and accommodation etc. (b) taking responsibility of safer travel during flight such as offering medical services during flight, further screening COVID-19 negative before flight etc. ✈️
Hermann Gruenwald Thank you, sir. Indeed, despite the vaccinations, travel restrictions are still high in many countries... What are your expectations perhaps for returning to a pre-pandemic situation?
True dear Amrit Kumar but many countries have reopened their airspace for a while with specific conditions for travel... What do you think of the procedures and conditions for entry to some countries at the present time (such as imposing a vaccine or conducting Covid tests or mandatory quarantine upon arrival)?
Thank you very much Dear Proloy Barua for participating..but is this general for all countries and companies? What about semi-bankrupt companies whose countries cannot even support them? Can you give examples of that?
@Othmane Touat, semi-Bankrupt companies may apply for loan from government in their country. But if their homecountry cannot give financial support then it will be harder for them to survive in the industry because overseas loan would be expensive. However, respective governments may take risk for loan in this case as guarantors. Sorry, I don't know solid examples.
Let me point out here that despite the negative outcome as perceived by the general populance, the pandemic also helped humanity to wake up by looking inward for sustainance in the absence of international investment.
While it is too early to calculate the total revenue losses of airlines as the pandemic is not over yet, but the losses will rise to hundreds of billions, as hundreds of thousands of flights and many international conferences and events were canceled, most notably Berlin Stock Exchange” for tourism, and Airbus, the European aircraft manufacturer, closed its aircraft production line in China and gave Some airlines have open holidays for their employees in some countries.