The global pandemic caused due to the quick spread of Coronavirus has caused much instability in the travel and tourism industry. Aviation sector throughout the world has taken a massive hit due to the ban of air travel by the countries to combat Covid-19. Notably, the Indian aviation industry, which is already facing issues has to stop its operations all of a sudden. On March 24, Prime Minister Narendra Modi addressed the nation and said that India would be on lockdown of 21 days.
Conditions Not Looking Favourable for the Airlines
Since the exit of Jet Airways last year, the aviation industry has suffered many losses. Domestic flights were banned by the government on March 24 so that the corona situation in India can be contained. However, on the same day, Prime Minister announced a lockdown of 21 days meaning all the domestic flights which could have been resumed from April will now be banned as well. This will result in a lot of losses for the airlines in India.
Flights Being Cancelled Results in Heavy Losses for The Airlines
According to a graph, a total of 585 flights were cancelled between the period February 1 and March 6 due to the coronavirus outbreak. The Federation of Indian Chambers of Commerce and Industry has reported a drop of 30% in terms of domestic travel amidst growing fears of the corona. It is expected that more than 150 aircraft will be on the ground for the time being, and that will affect the airline industry in a way which will take them much time to recover. Already most of the airlines are running in debt, and this will only add to the cash crunch.
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