At SE wings® we have considered the impact of the Coronavirus pandemic on the travel industry. There is no doubt that the COVID pandemic has had a tremendous worldwide impact on the travel industry. With two-thirds of the world's passenger jets grounded this has caused several airlines to go into administration. We have projected a huge recovery in the travel industry as the pandemic begins to recede.
Since pandemic-related restriction were widely adopted across much of the globe in March, global passenger numbers have plummeted, but earlier restrictions in Asia-Pacific in February were enough to derail global growth.
Year-to-date global RPKs have fallen 41.9% and the overall picture is similar in most regions. On account of the earlier inception of the pandemic in Asia, the Asia-Pacific region appears the most affected (down 48.4%).
Europe has experienced a 40.4% decline on the same months in 2019. IATA is anticipating global air transport industry losses of $84.3 billion in 2020: more than three times the losses sustained after the Global Financial Crisis.
There is no doubt there would be a recovery. Timing this recovery will be essential to our airline's success. We are looking at key economic indicators to place our airline at an advantage for growth.
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