Economic impact of the coronavirus pandemic on air traffic

Abstract

The coronavirus pandemic is an unprecedented event in modern history, not only of aviation, but also of humanity. The negative consequences of the pandemic are not only related to the suspension of flights and the inability to transport passengers, but also have a great impact on other industries, such as the production of aircraft, systems and engines, tourism, the food industry, etc. The suspension of flights has led to many times lower revenues than planned, the dismissal of a large number of employees in this industry, as well as the cancellation of new airplanes ordered. Also, the prescribed health care measures that airlines must apply will affect a smaller number of passengers on planes, which means that each flight will be less cost-effective. Faced with large losses, airlines must organize in order to achieve maximum efficiency and a partial return to the levels of flying and transportation of people and goods that were achieved during 2019. The paper analyses the state and importance of the global aviation industry, the impact of the pandemic on business results and solving the problems of airlines.