Airline Industry Turbulance Continues Amid Coronavirus Pandemic: What Does The Future Hold?
The 2020 coronavirus has dealt a serious blow to the airline industry. Prior to COVID-19, fuel costs were low, and demand was healthy. Today, the industry is struggling to survive. In this article, we'll look at trends in passenger demand, revenue, stock performance, safety protocols, and the road ahead for this industry.
Reduced Demand
Airlines around the world have felt the pain of a drop in demand due to the coronavirus. As the following chart shows, the number of passengers willing to travel on a plane has fallen steeply. As of June 24, 2020, only 494,826 passengers entered through a TSA checkpoint compared to nearly 2.6 million on the same day in 2019. This represents a decline of about 81%.
