NEW YORK (BLOOMBERG) - The nightmare year of 2020 brought the airline industry s first decade of sustained profitability to a shuddering halt. The coronavirus pandemic tore through in a tumultuous, unprecedented way - leaving carriers in a deep hole, along with a constellation of aerospace manufacturers, airports and leasing firms.
2021 is shaping up to be a transition year for an enterprise that takes passengers on the equivalent of 208 million annual trips around the globe. At best, the path ahead will be bumpy, with progress toward a return to travel dependent on the pace of vaccine roll-outs, access to capital, government policies and the unpredictability of a virus that s not yet fully understood. Still, there will be leaps, including the first commercial flights to near-space.
The nightmare year of 2020 brought the airline industry’s first decade of sustained profitability to a shuddering halt. The coronavirus pandemic tore through in a tumultuous, unprecedented way, leaving carriers in a deep hole, along with a constellation of aerospace manufacturers, airports and leasing firms. 2021 is shaping up to be a transition year for an enterprise that takes passengers on the equivalent of 208 million annual trips around the globe. At best, the path ahead will be bumpy, with progress toward a return to travel dependent on the pace of vaccine roll-outs, access to capital, government policies and the unpredictability of a virus that’s not yet fully understood. Still, there will be leaps, including the first commercial flights to near-space.
Airlines Try Ultra-Cheap Fares to Get the World Flying Again
By
January 7, 2021
A member of flight crew sits next to social distancing signs at LondonÂs Heathrow Airport. Photographer: Chris Ratcliffe/Bloomberg
(Bloomberg) The nightmare year of 2020 brought the airline industryâs first decade of sustained profitability to a shuddering halt. The coronavirus pandemic tore through in a tumultuous, unprecedented way, leaving carriers in a deep hole, along with a constellation of aerospace manufacturers, airports and leasing firms.
2021 is shaping up to be a transition year for an enterprise that takes passengers on the equivalent of 208 million annual trips around the globe. At best, the path ahead will be bumpy, with progress toward a return to travel dependent on the pace of vaccine roll-outs, access to capital, government policies and the unpredictability of a virus thatâs not yet fully understood. Still, there will be leaps, including th
Airlines try ultra-cheap fares to get the world flying again
2021 is shaping up to be a transition year for an enterprise that takes passengers on the equivalent of 208 million annual trips around the globe. Text Size:
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The nightmare year of 2020 brought the airline industry’s first decade of sustained profitability to a shuddering halt. The coronavirus pandemic tore through in a tumultuous, unprecedented way, leaving carriers in a deep hole, along with a constellation of aerospace manufacturers, airports and leasing firms.
2021 is shaping up to be a transition year for an enterprise that takes passengers on the equivalent of 208 million annual trips around the globe. At best, the path ahead will be bumpy, with progress toward a return to travel dependent on the pace of vaccine roll-outs, access to capital, government policies and the unpredictability of a virus that’s not yet fully understood. Still, there will be leaps, including the first commercial flights to nea
By Graham Dunn2020-12-31T10:35:00+00:00
Such has been the magnitude of the pandemic impact on air travel demand that the airline industry has to some extent been in a stasis since March - and with it so too has much of the normal airline failures, mergers and start-up activity.
A slowdown in the appetite for start-ups is hardly surprising given the paucity in air travel demand, which remains stymied by ongoing restrictions and quarantines. Likewise, simply surviving the crisis has been the focus for airlines meaning there is little time or the financial wherewithal to pursue acquisitions.
The relatively small number of airline failures is perhaps more counter-intuitive given the tough climate. It is though explained by the unprecedented levels of financial support governments have provided to keep carriers on life support through the crisis.