Impact of COVID-19 on the global airline industry: Hot Topic Brief - Issue 3
Summary COVID-19, commonly referred to as the Coronavirus, is dominating headlines the world over. No industry has seen a greater impact than airlines.
Key Highlights - COVID-19 has now spread across the globe with over 1.9 million 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 $314bn, a number subject to upward revision.
- Travel restrictions are being deployed as a key weapon in the war against COVID-19. Publicized bans and restrictions have decimated the airline industry, forcing mass groundings and leaving many airlines wrestling with a plethora of tough decisions.
- 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.
- This week has seen the impact of COVID-19 become more visible. Richard Branson warned that Virgin Atlantic will fail if government help is not secured and the billionaire even pledged his private luxury island as collateral as he seeks to secure a £500m loan. News was less positive for sister company Virgin Australia, which become that first country’s first major corporate casualty as it voluntarily entered administration after failing to secure a government loan. It must now seek out investors/buyers from administration.
- In the US, United yesterday (April 20) became the first major airline to quantify the pandemic’s impact as it announced a pre-tax loss for Q1 of $2.1bn. It is hard to envisage United’s rivals telling a different story when they announce their results in the coming days and weeks, showing just how vital the Trump administration’s support package is for the industry.
Scope - 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
Our reports have been used by over 10K customers, including:
120 pages •
By Infiniti Research Limited
• Jul 2021
Global Commercial Aviation Crew Management Systems Market 2021-2025 The analyst has been monitoring the commercial aviation crew management systems market and it is poised to grow by USD 1.02 bn during 2021-2025, progressing at a CAGR of 7.47% during the forecast period. Our report on commercial aviation crew management...
Airlines, OEMs, and MROs need to evaluate their current operating economics to understand the importance of adopting sustainable alternatives and create strategies to prepare for the future, specifically by developing a technological roadmap for MROs.Compliance with expanding regulations in air transport and economic conditions brings urgency...
Global Mission-Critical Interconnect Solution Market to Reach $43,424.0 Million by 2026 Market Report Coverage - Mission-Critical Interconnect Solution Market Market Segmentation • End User: Commercial & Industrial, Government & Defense • Application: Commercial Aviation, Military...
South America has experienced significant growth in the last 10 years, but it was focused only on specific countries. Driven by the Brazilian market, the continent has experience an influx of new destinations, especially from the North American market. The low average income GDP per capita is a significant deterrent, and the complicated political...
The electronic flight bag (EFB) market is estimated to grow from USD 2.4 Billion in 2021 to USD 3.3 Billion by 2026, at a CAGR of 6.2% from 2021 to 2026. Some of the major factors driving this market include reduction in aircraft weight through EFB incorporation, increase in aircraft deliveries, real-time data sharing through EFBs, and the...
As global air travel is anticipated to rise in the second half of 2021, the airline industry faces challenges in extending the life of current and future aircraft.Recovery from the weak economic environment due to the COVID-19 pandemic accelerates demand for more cost-efficient, secure, and standardized ways to improve overall aircraft maintenance...
175 pages •
By The Business Research Company
• May 2021
Major players in the search, detection, and navigation instruments market are BAE Systems Plc, Leonardo S.p.A, Raytheon, Thales Group, United Technologies Corp., Agilent Technologies, Siemens Medical Solutions, Boeing, and Thermo Fisher Scientific. The global search, detection, and navigation instruments market is expected to grow from...
The global actuators market is expected to exhibit strong growth during 2021-2026. An actuator is a mechanical component that assists in converting energy into motion and controls machinery equipment and systems. The device usually works on hydraulic and pneumatic forces and can be operated manually, electronically...
The global autopilot systems market exhibited moderate growth during 2015-2020. Looking forward, the analyst expects the market to grow at a CAGR of around 5% during 2021-2026. Autopilot refers to an electrical, mechanical or hydraulic system that is designed for aerial, marine and unmanned aerial vehicles (UAVs) to...
As the global chemicals industry is at the onset of the recovery phase, companies are focusing on identifying and monetizing new opportunities in the industry. The majority of the chemical industries are likely to record volume growth of 4% to 8% in the short term, depending on the chemical sub-segment and product portfolio. A large volume...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.