Technology
When will the airline industry recover from COVID-19? – CMC Markets
To say it’s been a tough year for airlines is something of an understatement. With the pandemic still casting long shadows, investors eagerly await an airline uptick….
Airlines have been buffeted by the coronavirus pandemic, with lockdowns and travel restrictions reducing flights globally by an estimated 60% throughout 2020. Over December, when the holidays usually boost the industry, new variants of the virus and resultant travel bans saw passenger numbers down circa 80%.
Flight numbers plummeted 49% from 33.2 million in 2019 to 16.8 million in 2020, with the number of air travellers falling 67% and cancelling out more than 20 years of growth in the industry.
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