Since the beginning of 2020, almost every country has shut down the borders and set restrictions on domestic and international flights. This is done to stop the spread of the coronavirus. Thus, it affects the entire aviation industry across the globe. The flights are canceled almost on every route, and the industry also has to refund the money to travelers. The condition is worse for the aviation sector, and millions of jobs are in danger in this industry.
During the first week of July 2020, the number of scheduled flights is decreased by 65 percent compared to the previous month. In some countries where the pandemic is worse, the number of passengers is reduced by up to 90 percent. However, various governments have released relief packages to recover the aviation industry. But it does not seem enough as now also people are feared of traveling across the country.
Due to the corona pandemic, the aviation industry has approximately suffered a loss of 130 billion U.S. dollars. This is the loss of annual passenger revenue that is generated from the fare of tickets. On the other hand, the staff at the airport is also suffering from salary cuts. The only hope is the discovery of the coronavirus vaccine. Moving further, let’s discuss some more aspects of it.
Impact on air cargo
With the decrease in passengers, the aviation industry is also suffering from a decline in air cargo demand. Almost half of the revenue of the aviation industry comes from the cargo sector. Due to the pandemic, most of the countries have to stop import and export. That is directly affecting this industry. According to some reports, check out some latest data on it.
- Only 30 percent of belly cargo is under processing.
- The market for air cargo is decreased by 35 percent in six months.
- Big cargo planes are still not flying and waiting for restrictions to overdue.
Moreover, domestic air cargo is also affected worse. However, now many countries are giving relaxation in restrictions. Due to which the aviation n industry is coming back to the routine. But for the complete operation of flights, we have to wait for the vaccine for the coronavirus.
Effect of tourism on the aviation industry
- Tourism is the primary source of revenue for the aviation industry. But due to the pandemic, the tourism sector is also suffering from the worse condition. This ultimately results in less booking of air tickets. Indirectly you can say that less tourism is the leading cause of lest down of the aviation industry.
- However, now the condition is not that bad, and people are moving to new destinations. The situation is expected to get normal by 2022. It totally depends upon the treatment of coronavirus disease. If the vaccine is discovered in 2021, we could expect the aviation industry’s growth in the upcoming years.
Lastly, the aviation industry is the worst affected industry due to the pandemic. Many pilots and other aviation staff have lost their jobs. So, let’s hope for the best and pray for the vaccine to discover.