Aviation could take 2 years to recover: Survey

April 17, 2020 17:33

The aviation industry may take between six months to two years to recover from the severe blow dealt by the coronavirus pandemic, according to a survey carried out by global consultancy ICF.

The survey, conducted among senior and mid-level executives from across the world between late March and early April, also revealed that there may be increased scrutiny placed on the health and sanitary conditions of individual countries that could impact air service and passenger demand.

"The COVID-19 crisis has resulted in a total or partial shutdown of their business. As to how long business activity will remain depressed, nearly half of respondents expect the slowdown to last three to four months. "One-third of respondents, however, think it can last five months to one year. In contrast, nearly half of respondents expect recovery will take up to two years," as per the survey.

"Not only are we facing the most profound activity slowdown in aviation history, but respondents are also expecting a slow road to recovery. Just over one-third of respondents anticipate activity will return to pre-crisis levels within a year," it stated.

Given how deep the present crisis is and the growing probability that it will trigger a global recession, ICG said it expects the recovery period to be significantly longer than the respondents' expectations. "It is important to remember, however, that traffic has always come back," it added. At the same time, the survey observed regional differences in the respondents' views on the period of recovery, with those in Asia being most optimistic about the future rebound in business activity. -- PTI

« Back to LIVE

TOP STORIES

How Many Crorepatis In Fifth Phase?

Accoding to data collected by the Association for Democratic Reforms, of the 695 candidates in the fray, 227 are crorepatis.

IPL Play-Offs: SRH Through; CSK Or RCB?

With SRH qualifying with just a point, the CSK vs RCB game has become a knockout match.

Supreme Court: ED can't arrest accused after...

A bench of Justices Abhay S Oka and Ujjal Bhuyan said when an accused appears before a court in pursuance of a summons, the agency will have to apply to the court concerned to get his custody.

Mamata's ploy to...: Cong's Adhir on INDIA olive branch

Chowdhury termed Banerjee as an "opportunist politician" who altered her stance after realising the changing political landscape.

11 killed in lightning strikes in Bengal's Malda

The district administration has announced a compensation of Rs 2 lakh each for the families of the deceased, he said.