The coronavirus pandemic will cause major headwinds for the global aviation industry. Industry body Centre for Asia Pacific Aviation (CAPA), in a note on Monday, said that if governments did not look into the matter, by the end of May 2020, most airlines in the world will be bankrupt.
Multiple Indian and international airlines have suspended their operations to, from and within India in the wake of the pandemic. BusinessLine had reported that till March 6, over 585 international flights were cancelled.
According to CAPA, forward bookings are far outweighed by cancellations and each time there is a new government recommendation it is to discourage flying. Demand is drying up in ways that are completely unprecedented. Normality is not yet on the horizon.
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