Introduction
A unique chapter of human history is being inscribed even as we live it; mortality and morbidity statistics relevant to Covid-19 continually assault us on TV screens and social media --- changing so rapidly and so alarmingly that keeping track is a hopeless exercise. The basics of globalisation are under threat, with nations struggling to face the onslaught of Covid-19, their economies being overwhelmed by multiple assaults. Indeed, International Monetary Fund (IMF) has already declared that by 2021, the world will be in the throes of an economic recession whose tenor and texture will be worse than the global financial recession of 2008-09. Civil aviation is perhaps the worst affected industry as demand for air travel all over the world shrivels up dramatically; no flight is permitted in India until 14 April. The aviation think tank Centre for Aviation (CAPA) gloomily predicts that most airlines would be bankrupt by end of May while International Air Transport Association (IATA) estimates that the total losses of its 290 member airlines (around four fifths of the world’s) will tote up to a whopping quarter of a trillion USD. Airline clientele is greatly inconvenienced as a result of the aviation melt down but passenger discomfort pales into insignificance when juxtaposed with the long term anguish that aircraft and airport operators across the world will face in the coming years --- with some of them adding to Covid-19’s fatality statistics.
Prognosis
This story is from the April 2020 edition of Aviation Update.
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This story is from the April 2020 edition of Aviation Update.
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