Impact of COVID-19 on the Global Airline industry: Hot Topic Brief — Issue 1
COVID-19, commonly referred to as the Coronavirus, is dominating headlines the world over. No industry has seen a greater impact than airlines.
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- COVID-19 has now spread to 168 countries/regions with over 380,000 cases being reported. The spread of the virus has had a deleterious impact on the global airlines industry and many industry players are now in a serious fight for survival as passenger numbers plunge. IATA estimates that the COVID-19 impact could cost the industry as much as $252bn, a number that is being revised upwards with frightening regularity.
- The state of play in the industry is unprecedented and has plunged senior management at airlines across the globe into uncharted waters.
- The future is extremely uncertain as the lengths of all travel restrictions remain very much unclear. Airlines are already taking drastic action to ward off the threat of failure, but if mass disruption is prolonged beyond summer, we will likely see failures and government intervention will be required to stop a greater number of airlines going out of business.
- How various governments react will play a significant role in determining what a countries? airlines industry will look like in a post-COVID world.
- If industry-wide bailouts are enacted or equity stakes are acquired, failures can be kept to a minimum. If countries choose to operate support on a bespoke, case-by-case basis, some airlines may not be deemed important enough to warrant state aid.
- This will benefit larger ?too big to fail? operators who may then also profit from the emergence of a more consolidated industry with reduced competition.
- This report provides insight into the current state of play, offers a look at potential future scenarios and assesses the actions that airlines can take to mitigate the impact of COVID-19.
Reasons to Buy
- Gain an overview of the current global COVID-19 situation
- Understand the impact that COVID-19 is having on the industry
- Explore future industry scenarios
- Assess possible mitigating actions
- Compare key industry players’ actions
Table of content
Current COVID-19 Situation
Actions to mitigate the impact of COVID-19
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