The spread of COVID-19 has leaded the aviation industry of Europe in a hard struggling situation. The major economies of the European region including Spain, Italy, and Germany have witnessed more than 100,000 cases and as per trend, France will also reach this mark soon. With the spread of COVID-19 pandemic, the air travel of the passengers has decreased significantly and most of the airlines are canceling more tickets as compared to new tickets booking. On March 13th, a new safety directive was published by the European Aviation Safety Agency (EASA) in order to control the spread of the virus in the region. The guideline mandates specific interior disinfecting and cleaning of the aircraft as a preventive measure. However, with the worsening of the situation, the airlines were forced to cancel or to reduce their flight operations. The overall booking of Lufthansa Group was decreased by 50% during the first week of March as compared to the same period last year. The group has discontinuous most of its long haul operations from Munich and Switzerland, and operating only three long-haul flights per week to Newark only. Besides, Austrian Airlines, a subsidiary of Lufthansa Group suspended all its flight operations temporarily from March 28.
On 19th March, Air France announced to reduce its international and domestic flight capacity by up to 90% for the next two months due to the COVID-19 pandemic. In March, the airline has canceled around 3,600 flights. The company has also shut its all 19 ticketing offices in France. The airline is also offering to postpone their air tickets by November 2020 and offering special fares to French citizens in other countries who want to return to their country. Another major airline group in Europe is International Airlines Group (IAG) which operates Aer Lingus, British Airways, Iberia, Level, and Vueling. On 16th March 2020, the airline suspended all the flights to China, and Italy and has reduced capacity to Asia-Pacific. In April and May, the airline has a plan to reduce its capacity by 75% compared to the same period in 2019. In the situation of the pandemic, the airlines are supporting the government’s decision and working hard to provide essential food and medical supplies to the needy in Europe as well as across the globe. However, the longer the crises remain, the more aid from the government will be required for these airlines to survive. The experts in the aviation predict that the demand will remain weak until summer and due to which the airlines are trying to reduce their expenses and improve cash flow.
OMR Global recently published report on https://www.omrglobal.com/industry-reports/impact-on-european-aviation-industry-due-to-covid-19-pandemic
The Report Covers
- Comprehensive research methodology of the European aviation industry.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the European aviation industry.
- Insights about market determinants which are stimulating the European aviation industry.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
European Aviation Industry- Segmentation
- Passenger Airlines
- Cargo Airlines
- Aircraft manufacturing companies
- Airports managing companies
- Catering & other service providing companies
To learn more about this report request a free sample copy @ https://www.omrglobal.com/request-sample/impact-on-european-aviation-industry-due-to-covid-19-pandemic
