The airline industry is in crisis.Three months after the first cases of COVID-19 in the United States the airline industry is going
through its worst moments in history.
By mid April, 17,000 aircrafts were parked around the world, or two thirds of the global feet, according to a BBC report. Similarly, Bloomberg
reported that “total capacity
for international and domestic routes has dropped to 29.8 million seats, down more than 70% from January”
Just before COVID-19 cases in the United States reached 200,000 at the end of March, stock value for American Airlines had
fallen 36%, similarly for Delta Airlines, whose stocks
value fell 38%. By this time industry revenue had fallen by 13%
to 4.98 billion dollars USD.
According, to Deloitte,
who researched the airline industry's future perspective, the industry
will be able to recover with quick and coordinate action by stakeholders. Nonetheless, people's willingness to travel and hop onto a plane where a cabin
is shared with hundreds of other people, still requires some readjusting and airlines
adapting to provide new safety norms.