A wave of disruptions to air travel following the coronavirus epidemic has led to a catastrophic effect on the airline industry. China’s busiest airports have reported a fatal 80% drop in traffic. Amid the impact of the coronavirus on Airline industry, the loss is expected to be around Rs 8200 Cr for just three months. The number does not include Air India.
According to some figures, Air India which receives more than Rs 1,230 crore per month from international operations has, since the coronavirus outbreak, almost suspended all its international flights. Air India alone, would be under a loss estimated of Rs 3,700 crore over three months, A major hit on the airline industry due to coronavirus.
Airports, borders, and even the Country are closed. Thousands of flights canceled to fight the Coronavirus, lots are airports have closed, flights are grounded, airlines are fast running out of cash and more trip cancelation are coming every day, this is the impact of coronavirus pandemic on airline industry.
Earlier this week, IndiGo canceled its Delhi-Istanbul and Chennai-Kuala Lumpur from March 18, 2020, until March 31, 2020.
The Financial implication of suspended flights and routes are huge. Airline Industry is looking with high hopes from the federal government for relief. Lufthansa is also talking to European governments about financial support. Cathy Pacific and Asiana airlines have asked thousands of employees to take unpaid leave.
On 5 March 2020, the International Air Transport Association estimated that the airline industry could lose between US$63 to 113 billion of revenues due to the reduced number of passengers.
Global commercial air traffic tracked by Flightradar24 has reported 7.2% down in March 2020 compared to 2019 air traffic. The decline has continued since February when flights were down 4.3% compared to 2019, as airlines and governments respond to the spread of the novel coronavirus COVID-19
Airlines are suffering from losses due to curtailed flight schedules, large-scale cancellations, curtailed flight schedules, and rescheduling of flights during the COVID-19 pandemic. Coronavirus impact has been seen on Indian airlines too. The biggest impact has been seen on the international side of the airline’s companies like IndiGo, Air India, SpiceJet, GoAir and Vistara.
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