COVID-19 has now spread to every corner of the world, and a lot of that has to do with the aviation industry. When passengers boarded planes, they carried with them a disease that would bring upon thousands of deaths. Because airplanes have taken such a large part in the spread of COVID-19, their industry is being hurt the most.
In class, there were many discussions on stakeholders. Governments around the world are important stakeholders in the aviation industry, which is why their decisions regarding the pandemic are so devastating to the industry.
According to the New York Times article, Coronavirus Travel Restrictions, Across the Globe, published on March 26th, ” the [U.S.] State Department issued a Level 4 ‘do not travel’ advisory, recommending that United States citizens avoid any global travel. This is the highest travel advisory the federal agency can issue. Also… the European Union instituted a 30-day ban on nonessential travel to at least 26 European countries from the rest of the world,” (Salcedo and Cherelus). These restrictions have caused the sales of the aviation industry to drop drastically. Bloomberg Airlines published an image of its stock market indices from January 2020 to March 2020. The drop is impossible to miss.
I believe that the aviation industry will take years to recover from this loss. After the epidemic is over, some may be enticed to get on a plane and travel but most will be wary of a second wave of COVID-19, which would slow the recovery of the aviation industry. Furthermore, with the number of jobs lost and money issues, consumers would have a hard time finding the money to fly right away. With a small flow of money coming in, it will be hard to rehire people for positions that are necessary at airports, threatening the safety of aviation. I hope the aviation industry recovers, but with all the data available, it seems that they won’t for a while.
Coronavirus is grounding the world’s airlines. (n.d.). Retrieved from https://www.economist.com/business/2020/03/15/coronavirus-is-grounding-the-worlds-airlines
Salcedo, A., & Cherelus, G. (2020, March 15). Coronavirus Travel Restrictions, Across the Globe. Retrieved from https://www.nytimes.com/article/coronavirus-travel-restrictions.html