Coronavirus had a significant impact on the aviation industry all around the globe. The people are not traveling because of the Covid-19, which resulting in planes flying empty between the airports and sometimes the cancellation of the flights. In some cases, passengers are restricted to travel. This leads to a sharp decline in the aviation market. The international air transport association made an estimate that the industry has lost 113 billion of revenue due to the sudden impact of coronavirus. Normally the airline demand rises 2 percent per year but it is the first time in the history of aviation that there is a sharp decline.
The major decline figures of the largest airlines are as follows:
- Delta airlines: The Delta airlines announces that the figures show a 20-25% reduction in international flights. Also, the domestic figures for domestic flights reduced to 10-15%. Moreover, in the month of March, the overall rate has declined to 25 percent.
- British airways: According to the British airline industry, they are facing worse situations. They said that they probably will lose their jobs, perhaps for temporary or for permanent. According to British airlines, this situation is much worse than the 9/11 attack.
- American airlines: The American airline is also suffering from this corona impact on aviation, according to the study of American airlines, in the month of March, the industry has reduced 10 percent in the case of international flights and domestic flights have declined by 7.5 percent.
- United airlines: The United airlines announced the domestic capacity of the airline is reduced by 10 percent and the international flight reservation is reduced by 20 percent.
Talking over and above, multiple airlines waived for flight changes or flight cancellations due to the impact of coronavirus. The stock prices of the United States airlines have decreased by 30 percent. Also, there is a sharp drop down in the prices of domestic flights.
China is the country that is facing the major impact of coronavirus, the flight traffic between Japan and China reduced by 60 percent. The traffic between the US and China has dropped by 86 percent, moreover, the prices of airline tickets have also dropped.
In the case of Italy, due to lockdown and the bad impact of coronavirus, thousands of the flights were canceled.
All in all, this coronavirus has majorly affected the whole airline industry that is really a matter of concern. This virus has spread turbulence in the industry and grounded the number of airlines. In this hard time, the airlines are desperately saving cash not by cutting the flights but also including pay cuts of employees to get rid of this hard time.