The COVID-19 crisis has shaken the entire economy, but the most affected are the airline and travel industries. Although the global shutdown has offered bad days to the sector along with impacting the value chain, yet the quarantined days will possibly give birth to an entirely new airline industry.
COVID-19 outbreak has all of a sudden halted the entire global economy especially the airline sector that was already gearing up a successful 2020 start.
Eyeing at the prevailing situation, the airline industry across the globe has heavily been impacted with entire international & domestic borders been sealed. This has not only interrupted the value chain but also affected the travel industry. Since the only precaution known to the disease is social distancing that has resulted in the travel ban and hotels been shut.
However, conditions will not be the same for a very long time soon after lockdowns been lifted a lot of airlines will restart their functioning. Also, the new business model will require several changes in the current one with higher expectations of passengers, which can lead to several mergers and even insolvencies.
Hence, it can be said that returning to the growth forecast of 2019 will now take furthermore years to happen. Also, the current shutdown might limit the ability of individuals to afford travel and that again can have a major impact over the economies, as airline networks & connections are considered as one of the key pillar for economic development.
The airlines will now have to consider upgrading their health check policies so that it is able to meet their customers’ satisfaction that has augmented owing to COVID-19 crisis. Though people have already started making some holiday plans for Christmas and New Year according to research, still health is going to be a major concern while choosing a flying partner.
COVID-19 crisis has shaken the entire industry on the negative side; however, viewing the positive side offers them a chance to upscale their business. Besides the shutdown has offered a more clear sky for flying making sustainability an important factor. Furthermore, new-fangled and even stricter health and safety travel policies will enhance things for passengers as well as staff working in this industry that will work as a motivation to them while planning their travel. Additionally, airlines have already started reviewing their business models along with adjusting their networks & fleets
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Severity: Warning
Message: count(): Parameter must be an array or an object that implements Countable
Filename: amp/news_details_amp.php
Line Number: 252
Backtrace:
File: /home/smartmarketnews/public_html/application/views/amp/news_details_amp.php
Line: 252
Function: _error_handler
File: /home/smartmarketnews/public_html/application/controllers/Amp_controller.php
Line: 41
Function: view
File: /home/smartmarketnews/public_html/index.php
Line: 315
Function: require_once
Smarter Decisions with Smart News
Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.
media@smartmarketnews.com | sales@smartmarketnews.com
Contact Us