Lifestyle

Airline industry running under loss due to Coronavirus

As the fear of Coronavirus spread we have heard that many passenger aircraft have grounded the flights and the airline company has asked many crew members to take unpaid leave until further notice. This is not only one of the testing times, but also it is the time where most of the companies will run under loss and it takes time to recover from these huge losses.

According to reports, passenger operations have fallen steeply and also, the airports such as New Delhi International Airport is finding difficult to park these aeroplanes as its finding difficult to find parking slots for them.  One of India’s biggest airport, the authorities say that they are full and are now utilizing remote bay and hangers now to park these planes.

This is not a new thing as the fear of the pandemic has risen exponentially, there are many flights cancelling from various parts of the world due to the countries governmental measures to curb coronavirus.  Andrew Herdman, director-general of the Association of Asia Pacific Airlines told “It is a war against a virus,” he added “What we have to do is take care of the institutions and people’s livelihoods, the soft capital, so that we can restart effectively in a timely way when the time comes.”

Due to the ongoing crisis, rating agency Moody’s predicted that estimated global capacity will fall by 25-30% by year-end which would happen if the case of Coronavirus falls by June.

According to many websites which have undertaken their government and international rule seriously have stopped their travel to international destinations except for the movement of Cargo and Emergency Evacuation Responses have been allowed for flying internationally, apart from this everything is barred.

In addition to that, Indigo ,one of largest air Travel Company in India has barred all its flights till April 14 2020, Go Air another major travel airline provider in India also compiled by government rules and has cancelled their flights till 14th April 2020. Similar to this, many airlines have cancelled most of their flights both domestic and international compiling with the rules from their specific home country.

The new law has not only affected large airlines but also budget airline services such as Thai Smile, VeitJet Airways etc where they provide services that suits budget, saying about this they say that ongoing crisis may affect them in huge scale and as people fear to travel internationally after the pandemic ends, they might also notice a drop than usual travellers visiting these regions.

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