Airlines face major losses as pandemic continues

Airport Losses During COVID

Did you know that European airports have faced a loss of 38.8 billion U.S. dollars in August 2020?1 This has all happened because of the COVID-19 pandemic. This dangerous disease has forced people to wear masks, social distance, and the most important of all, stay home. Families had to cancel their plans of going on vacation because of the worldwide spread. This caused fewer bookings and fewer passengers on flights. All airports had to close down, and all flights had to be canceled because of government orders of following safety protocols. Let’s learn in more depth and detail.

How many airport officials lost their job? According to CNN Business, it is estimated that more than half of the 88 million aviation workers could lose their jobs2. Unemployment in the airline, airport, and civil aerospace companies could be reduced by 4.8 million by 2021. This shows that because of less income, employees are either getting less salary or being fired because of poor performance in these hard and unprecedented times. Even in ordinary jobs, employees are trying very hard to keep their job safe.

How are airports making up these losses? According to CNBC, the number of passengers has been lowered to a similar amount as compared to the 1950s. Since airports have faced an approximate loss of $20 billion, airports in the United States have launched new routes in order to rebound the revenue loss.  Situations are so inconvenient that airline companies have to move their aircrafts to congested airports where they can get more bookings even though the pandemic is still there.3

In conclusion, airports are suffering a lot more than ever thought and predicted. People in the aviation industry are losing their jobs and many are experiencing salary cuts. During these hard and unimagined times, people are figuring out ideas that are useful for their organization and which will help them stay in the organization and not get fired. Airport companies are trying to find airports that still have a lot of bookings so that their airline company can at least earn something. It is a very sad period of time and people are having trouble feeding themselves and their families.

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Source 1: Estimated revenue losses of airports worldwide due to coronavirus in 2020, by region and quarter. Click here to view the source.

Source 2: The collapse of global air travel is putting 46 million jobs at risk. Click here to view the source.

Source 3: Airlines experiment with new routes in ‘game of musical chairs’ to stem billions in pandemic losses. Click here to view the source.

Airline Losses During COVID by Srijan Agarwal is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Based on a work at https://srijansinfo.blogspot.com/2021/03/airlines-face-major-losses-as-pandemic.html.