The global aviation industry is facing its biggest crisis.
The aviation industry is also being hit hard by the fact that Corona is putting a lot of pressure on ordinary people worldwide. Nearly every airline in the world has either decided to reduce its flight or terminate its services.
According to projections from the International Air Transport Association, it is clear that Corona’s direct impact will cause airlines to lose $ 115 billion in revenue this year.
It predicts that Asian regional airlines will lose about $ 65 billion in revenues, including forecasts of $ 25 billion in China.
Overall, it has been extremely challenging for airlines to match capacity with demand during the COVID-19 crisis due to its fast-evolving nature. No one knows how long this crisis will last.
Airlines, already reeling from huge potential losses, need to be nimble and provide unusual ticket flexibility that recognises the challenges their customers are also facing.
Airports and governments need to provide relief to help airlines get through this crisis and return in full force when the market recovers.