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Fasten your seat belts: it’s going to be a bumpy ride for all aviation-related businesses.
March 11, 2020
Jordi Guso
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COVID-19, Coronavirus
Last night, the federal government announced that starting tomorrow the United States will ban travel from most of Europe for 30 days due to the novel coronavirus. The announcement is a further blow to the airline industry that has already been rattled by declining demand. To put things in perspective, following the September 11 attacks, the airline industry lost approximately $19.6 billion in revenue between 2001 and 2002. The International Air Transport Association now projects that revenue loss to the airlines from the