The International Air Transport Association (IATA) estimates that the number of flights worldwide went down by 80% compared to the same period in 2019. While aircrafts are grounded, fixed costs continue to run, burning into airlines’ cash reserves.
Most large national airlines will likely survive, thanks to temporary nationalisations or massive cash injections. The outlook for low-cost or budget airlines, however, is uncertain.
Will consumers have fewer air travel options when the pandemic cloud clears?
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