In this weekly podcast, Euromonitor International discusses the impact of the coronavirus on industries, economies and consumers.
In this episode, we look at the impact on the airline industry and the long-term effects this crisis will have on aviation as a whole. A sharp decline in demand has triggered huge financial difficulties and liquidity problems for all carriers, forcing many operators to suspend thousands of flights and services.
Fleets are grounded while capacity, frequency and costs are cut. The industry will need life support in the form of government bailouts, emergency financial help and loan guarantees - as well as waivers from stringent local regulatory requirements in order to avert a complete collapse.