Did Covid-19 Ruin the Aviation Industry?

A few days ago the International Air Transport Association (IATA) announced that by 2037 the number of air passengers would reach 8.2 billion and the aviation industry worldwide is gearing up for this increase in passenger numbers. But like other sectors, this sector was also ruined due to severe injury of corona virus.

The impact of the epidemic was so deep that countries had to close their borders and the aviation industry had to stand their planes in lockdown.

According to the International Air Transport Association (IATA), air travel has decreased by up to 98% and it is estimated that airlines by around the world will lose $ 84 billion by 2020.

IATA has also estimated that revenue per passenger will also fall by 48 per cent in 2020 compared to 2019, and the biggest threat is the aviation industry and 32 million jobs associated with it.

The Indian aviation sector will also face difficulties in the coming years due to the Corona virus. Rating agency CRISIL has estimated that the Indian aviation industry may incur a revenue loss of 24,000 to 25,000 crores.

Crisil Infrastructure's Transport and Logistics Director Jaganarayan Padmanabhan said in a press note, "Airlines are likely to incur a loss of around 17 thousand crores, airport retailers Rs 1,700 to 1,800 crores and airport operators about 5,000 to 5,500 crores.''