The Coronavirus Outbreak (COVID19) has hit the world hard and how. While industries across the globe are suffering due to the global pandemic that originated from Wuhan, China, aviation industry in particular has been at the receiving end of the outbreak. The International Air Transport Association (IATA) has estimated that losses in revenue for airlines due to the coronavirus outbreak could range from $63 billion to $113 billion.
The industry is still in shock from the sudden collapse in passenger demand and many airlines have been axing services to the worst-hit countries and regions. This is not the first time aviation industry has faced the brunt. In the past, temporary suspensions during the SARS epidemic in 2003 and in the aftermath of the September 11, 2001 attacks in the United States were made. However, none proved to be as disastrous for the global aviation industry as the COVID19 outbreak.
Here's a look at the major events that has rocked the aviation industry in the past couple of months:
LOCKDOWN
Italy, after China, Iran and Saudi Arabia declared a nationwide lockdown to slow the virus's spread. Many European airlines like Ryanair, Norwegian and British Airways have announced cancelled flights. The lockdowns across the globe has forced the airlines to cancel thousands of flights and led to the delaying of plane orders.
Air France said it expected to make a total of 3,600 flight cancellations in March, including cutting 25% of its European capacity.
COLLAPSING AIRLINES
One of Britain's biggest airlines, Flybe, collapsed last week, with all its flights grounded as the coronavirus epidemic takes a heavy toll on airlines around the world. A statement on Flybe's website said the company had entered administration and could not arrange alternative flights for its passengers.
Flybe is the biggest operator of UK domestic flights. The no-frills airline carries around eight million passengers annually and flies from 43 airports across Europe and 28 in Britain.
Other carriers are also facing calamity. Korean Air Lines has warned that the virus outbreak could threaten its survival after it scrapped more than 80% of its international capacity, grounding 100 of its 145 passenger aircraft.
"The situation can get worse at any time and we cannot even predict how long it will last," Woo Kee-hong, the president of South Korea's biggest airline, said in a memo to staff that summed up the turmoil facing the industry. "But if the situation continues for a longer period, we may reach the threshold where we cannot guarantee the company's survival."
GHOST FLIGHTS
Many airlines across the globe are running ghost flights with abysmal passengers. The flights have to fly even without passengers to follow a rule requiring airlines to run most of their scheduled services or else forfeit valuable airport landing slots. EU chief Ursula von der Leyen said the bloc would suspend this rule to give the industry some breathing space, which will do away with "ghost flights" where airlines fly almost empty planes simply to keep slots, she added.
With Inputs from Reuters
Comments
0 comment