Aviation Sector
The aviation industry was one of the first sectors to petition the government for a bailout. As country after country has imposed restrictions on travel in a bid to halt the spread of the virus, airlines have been seeking state aid to avoid going out of business for good. Tim Alderslade, chief executive of Airlines UK, said:
“We are now entering the danger zone, and we urge the government to change tack and start to engage on a sector-wide basis before it’s too late.”
The crucial aviation sector that connects nations across the world is witnessing a flurry of layoffs and pay cuts. Some workers have been asked to go on forced unpaid leaves by aviation companies, who have been hit equally hard as the tourism and hospitality sector.
CAPA India, a leading travel and tourism consultancy firm, said, “global aviation activity has sunk over 66 percent in the wake of the Covid-19 crisis.”
“From a point of complete suspension of travel, recovery is likely to be slow. Demand will be suppressed due to economic dislocation; slow or even negative GDP growth; broken supply chains; low consumer confidence; and concerns about lingering outbreaks of COVID-19.
