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Impact of COVID-19 on the Global Airline Industry: Hot Topic Brief - Issue 4

  • ID: 5017046
  • Report
  • May 2020
  • Region: Global
  • 18 pages
  • GlobalData
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FEATURED COMPANIES

  • American Airlines
  • Delta
  • easyJet
  • IAG
  • IATA
  • Ryanair
  • MORE
Impact of COVID-19 on the Global Airline Industry: Hot Topic Brief - Issue 4

Summary

COVID-19, commonly referred to as the Coronavirus, is dominating headlines the world over. No industry has seen a greater impact than airlines.

Key Highlights
  • COVID-19 has now spread across the globe with almost 3 million cases being reported. The spread of the virus has had a deleterious impact on the global airlines industry and many industry players are now in a serious fight for survival as passenger numbers plunge. IATA estimates that the COVID-19 impact could cost the industry as much as $314bn, a number subject to upward revision.
  • Recent financial results announcements show the catastrophic impact COVID-19 has had on airlines and several airlines are now making statements about potential permanent redundancies.
  • Delta saw revenues plunge and CEO Ed Bastian said Q2 revenue would likely fall 90% from the same period of 2019 - a stark warning about the airline’s short-term prospects. American Airlines’ results were even more disastrous and it too warned that Q2 will be worse.
  • Serious warnings of permanent job cuts are emerging for the first time. On 28 April, British Airways said it needs to impose a ‘restructuring and redundancy programme’, which could result in the loss of 12,000 staff. This is sad but not unexpected and it would be surprising if a number of other major airlines did not follow suit. On May 1st, Ryanair did indeed follow, saying that 3,000 jobs could be at risk. The airline said it aims to announce details of job losses and pay cuts by July 1st.
Scope
  • This report provides insight into the current state of play, offers a look at potential future scenarios and assesses the actions that airlines can take to mitigate the impact of COVID-19.
Reasons to Buy
  • Gain an overview of the current global COVID-19 situation
  • Understand the impact that COVID-19 is having on the industry
  • Explore future industry scenarios
  • Assess possible mitigating actions
  • Compare key industry players' actions
Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • American Airlines
  • Delta
  • easyJet
  • IAG
  • IATA
  • Ryanair
  • MORE
Analyst’s Overview
  • Current COVID-19 Situation
  • Industry Impact
  • Future Scenarios
  • Actions to mitigate the impact of COVID-19
References
Note: Product cover images may vary from those shown
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  • Delta
  • IATA
  • easyJet
  • IAG
  • Virgin Atlantic
  • United Airlines
  • Ryanair
  • Southwest
  • American Airlines
  • Virgin Australia
Note: Product cover images may vary from those shown
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