A video has gone viral in which Bill Gates in 2015 assures that we are not ready for the next global outbreak, which would not be a war, but a virus. Five years later, that outbreak became a pandemic which has affected many citizens and many industries.
The aeronautical industry has not been the exception, and airlines are experiencing a difficult situation because of the impact that this virus has generated. It is said that airlines cannot recover from what would be the “worst crisis in their history” until the last quarter of this year.
The International Air Transport Association (IATA) reported that the aviation industry burned $61 billion in cash this quarter because of the 70% decline in air traffic and revenue, which could mean that many operators will have a hard time surviving that long.
According to experts, airlines will suffer a collective net loss of $39 billion in this quarter, as most of their aircraft are on the ground because of travel restrictions.
“These numbers go beyond anything we’ve ever had in our aviation industry,” said Alexandre de Juniac, IATA chief executive officer who urged governments to speed up bailouts for airlines facing estimated revenue losses for everything. the year of US $ 252,000 million.
The US Congress on Friday approved measures allowing $25 billion for passenger airlines, plus $4 billion for cargo companies and $3 billion for airport contractors.
The International Air Transport Association said it expects government fiscal measures and central bank action to add to an increase in travel demand in the fourth quarter, after widespread confinement in the second quarter and continued weakness. In the third.
IATA chief economist Brian Pearce said his baseline scenario is growth in Q4 2020 and strong 2021. “It is not clear that this will happen. We may need much more time to overcome the virus issues. The virus may come back, so we are exploring scenarios where we have a much longer period of weakness, and obviously the pressures on airlines will be correspondingly greater” added Pearce.
It is inevitable to think the aeronautical industry was experiencing one of its best stages, which was slowed down because of this pandemic. But it is important to see all the good within the bad; and it is that because of the COVID-19 virus, the emissions emitted because of the increase in flights and airlines, which also influence global warming, are likely to decrease precisely due to the reduction in this demand.