Has Golden Age Of Travel Passed?
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June 23, 2020 - by flightglobal.com
For the airline industry, forecast losses of $100 billion for 2020-2021 are unprecedented – and truly massive.
Many economists have long been warning of severe recession as a question of when, not if, but the coronavirus pandemic has kicked it off with a cliff-edge onset. Already we have seen big carriers scale down and a few smaller ones go to the wall. Mergers and acquisitions are sure to come, along with outright bankruptcies and the end of service on some routes.
Expect a glut of used and nearly new aircraft, storage and scrappage, and no quick return to high-rate production.
In some regions of the world, carriers are in...
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