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In: Economics

Current status of the airline industry in terms of the workforce employed (direct or indirect), technology,...

Current status of the airline industry in terms of the workforce employed (direct or indirect), technology, geographical distribution etc.

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Expert Solution

Current status of the airline industry : (KEEPING IN MIND COVID19 IMPACTS & LOCKDOWN RESTRICTIONS)

  • Workforce employed - A sizeable portion of airport ground staffers and airline employess must have been told to take pay cuts because of the complete stoppage of domestic and international air travel; worst case - Some airlines would have also fired some employees to cut costs and losses. The same would apply in general to the industry as air travel was completely banned for months.
  • Technology - Airports and Airlines will be using a lot of Artificial Intelligence based applications in the coming future to sort out issues such as auto-detecting a passenger with covid19 risk,etc. There have also been talks of installing automatic thermal screening entry points to minimize risks of potential outbreaks. There could be an increased use of automation and robotics, now that people would want to minimize contact, post resumption from lockdowns.   
  • Geographical distribution - Asia by far has the most % of passengers being flown in and out of the country as well as domestically,closely followed by North America and then Europe. China &the European countries went into lockdown earlier than the rest of the world, hence, there could be a lot of changes when normal services resume because Europe could come close to Asia's numbers as a lot of Asian countries remain in lockdown including India.
  • Revenue production - Revenue looks the worst affected in the airline industry as everything has come to a standstill. The only source of income for airlines could be the emergency rescue flights that are being carried out among countries to send stuck tourists back home to their countries.
  • Impact on environment - Less flying of flights would mean that the impact on nature be positively affected. Less greenhouse gas production, lesser sound pollution, lesser fuel consumption and lesser air pollution does nature the world of good to be honest.

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