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Airline Companies Preparing for Lengthy Revival From Coronavirus Pandemic

International seat capacity has plunged by almost 80% from a year in the past and half the world’s aircraft are…

By Luann Reagan , in Industry Updates News , at April 3, 2020 6:04 AM EDT Tags: , ,

International seat capacity has plunged by almost 80% from a year in the past and half the world’s aircraft are in storage, new data exhibits, suggesting the aviation sector may take years to recover from the coronavirus pandemic.

Airline Companies Preparing for Lengthy Revival From Coronavirus Pandemic

Carriers, along with United Airlines Holdings and Air New Zealand have warned they’re likely to emerge from the crisis smaller, and there are fears others could not outlive.

ForwardKeys stated the variety of international airline seats had plunged to 10 million in the week of March 30 to April 5, down from 44.2 million a year earlier.

Information firm OAG stated that a number of years of sector growth had been lost and that it may take until 2022 or 2023 before the volume of fliers returns to the levels that had been anticipated for 2020.

Cirium, another aviation data supplier, stated about half of the world’s airplane fleet was in storage.

Plane manufacturers are facing drastic cuts in wide-body production amid a plunge in demand for the business’s largest jetliners, manufacturing and supplier sources stated.

Deliveries of long-range aircraft, such as the Boeing 777 or 787 and Airbus A350 or A330, have been badly struck as airways seek deferrals and many withhold progress payments.