Numerous industries around the world have been hit hard by the coronavirus pandemic – some more than others. The aviation industry was one of the first sectors to feel the pinch from the deadly virus outbreak. Nationwide lockdowns, controlled borders and travel restrictions imposed by governments as preventative measures to contain the disease have resulted in significant reductions in passenger numbers.
Passenger air travel is predicted to sustain positive growth rates up to 2030, despite the challenge of high jet fuel prices that airlines are facing plus stagnant economic growth.These tough economic conditions are forecast to be offset by the rise in passenger numbers, which in turn is expected to improve the financial performance of the airline industry.It is believed that the global aviation industry will reach up to US$29.3 billion in profits in 2020, up from only US$8.3 billion in 2011.
Airlines could lose up to US$113 billion in revenues this year due to the coronavirus, equivalent to the damage experienced by the industry during the financial crisis, a trade body warned Thursday.The dire prediction came as Flybe collapsed into bankruptcy with the virus, which has killed over 3,200 people worldwide, dealing a fatal blow to the ailing British regional carrier.With the disease now rapidly spreading outside China, demand for air travel is nosediving globally, spelling serious
Under pressure from frequent flyers alarmed over climate change, the airline industry says it is "hellbent" on reducing emissions — but the technology needed to drastically reduce its carbon footprint is still out of reach.In recent months climate activists have stepped up efforts to convince travellers to boycott air travel, with Swedish schoolgirl and campaigner Greta Thunberg spearheading the trains-over-planes movement and making "flygskam", or flight shame, a buzzword
The European Union (EU) closed its airspace to Boeing 737 MAX planes on Tuesday, joining similar action by nations across the globe following a second deadly accident in just five months.Fleets of the best-selling workhorse plane were also grounded by airlines as safety concerns swirled, sending Boeing shares tumbling another seven percent in Tuesday trading and wiping billions more off its market value.On Sunday, a new Ethiopian Airlines 737 MAX 8 went down minutes into a flight from Addis A
Investigators are beginning the grim task of determining why a brand-new Boeing 737 Max jet flown by Indonesia’s Lion Air plunged into the Java Sea minutes after take-off, killing all 189 people on board.Divers are searching for submerged wreckage of the plane, along with flight-data and cockpit-voice recorders documenting the aircraft’s final moments.
