Iata estimates airline industry jobs could fall by 50% and the contribution to SA's GDP could drop to R97bn from R180bnDemand for air travel is beginning to recover across all regions after hitting rock bottom in April due to the Covid-19 crisis.
In SA, the airline industry, which counts eight players, was given the green light to operate albeit for limited business travel under level 3 of the lockdown which came into effect on June 1. The industry has been on the brink of collapse after airlines were forced to cease operations since the lockdown came into force at the end of March.
“But April may also represent the nadir of the crisis. Flight numbers are increasing. Countries are beginning to lift mobility restrictions. And business confidence is showing improvement in key markets such as China, Germany, and the US. The initial flight increases have been concentrated in domestic markets. Data from late May shows that flights in the Republic of Korea, China and Vietnam have risen to a point 22%-28% lower than a year earlier.
Oh please open up economies...
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