No industry has been hit harder by the corona crisis than the aviation industry. How long can airlines survive under these conditions?
THE WORLD IN 30 MINUTES
Troubled Times: Aviation in Crisis
30' (GER, ENG subs)
Since the beginning of the outbreak, airlines around the world have reported millions of dollars in losses every day. Countries pump financial aid and loans into their national airlines with the hope of preventing bankruptcy. Italy took full control of the already weak airline, Alitalia, to try and keep it afloat. Even well-off companies such as Swiss and its parent company Lufthansa are on the verge of collapse while facing their biggest crisis in history. There is no end to the corona restrictions in sight, and experts believe that it will take many years for airlines to fully recover. What future strategies and approaches can keep the industry alive?
There are hardly any airlines alive today that haven’t received government aid and/or bank loans. Thanks to these loans, many airlines were (for the time being) saved. Governments around the globe seem to fully recognize the importance of the airline industry. At the same time, aviation has contributed heavily to the spread of the coronavirus. The luxury of being able to travel cheaply and in the shortest time possible from one point to another has its downsides during a pandemic. How quickly can the aviation industry recover once the crisis is finished? Well, one thing is clear: after this aviation crises, the business of flying will never look the same.
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||Turbulenzen: Die Luftfahrt in der Krise
||30' (GER, ENG subs)
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