The coronavirus pandemic caused commercial air travel to come to a standstill for several months, and it is now at only a fraction of 2019 demand. About 20 airlines have shut down operations or declared bankruptcy. Hundreds of thousands of airline workers have either already lost their jobs or face the prospect as governmental bailouts run out or prove insufficient. And thousands of aircraft have been sent to storage or retired before they needed to be, according to our research.
The coronavirus pandemic caused commercial air travel to come to a standstill for several months, and it is now at only a fraction of 2019 demand. About 20 airlines have shut down operations or declared bankruptcy. Hundreds of thousands of airline workers have either already lost their jobs or face the prospect as governmental bailouts run out or prove insufficient. And thousands of aircraft have been sent to storage or retired before they needed to be, according to our research.
