The COVID-19 pandemic has affected countless aviation industries. According to International Civil Aviation Organisation, compared to scheduled passenger traffic in 2019, 2020 saw an overall reduction of 50% in seats offered by airlines and a 60% reduction in passenger traffic with an approximately $370 billion loss of gross passenger operating revenues of airlines.
For the Indian aviation sector, the pandemic has had a massive impact on major airlines including Indigo, Spicejet, Vistara, and Air India. All of the carriers are facing losses and placing employees on leave without pay as well as salary reductions for those still on the team. However, with vaccines being distributed across the country, Indigo is reportedly increasing its local market share, and there is a potential for Jet Airways to return to the skies.
The Indian aviation sector has always had huge potential for airlines, as the densely packed country has lots of demand for quick travel from place to place. This means that the airline industry in the country could have a better chance of coming out of the pandemic in better shape than in other countries worldwide.
Airbus India President Remi Millard commented that “While Indian airlines are suffering losses, the situation is not different in other countries. Passengers have to be told that travel by airlines is the safest form of travel today. Once they get in the confidence, then recovery is possible.” He also added that India would recover much faster in comparison to other countries due to the size of the market, however, it will not be an instant recovery, and airlines will still face heavy competition on domestic routes, especially as feeders for international flights.
01/02/21 Aeronautics
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