European Aviation industry is concerned with the manufacturing and operations of all types of aircraft and related services during transportation. Factors that were driving the European aviation industry before the COVID-19 pandemic include increasing disposable income all across the globe, the introduction of low-fare airlines, increasing tourism in the European economies, among others. Moreover, the replacement of aging commercial aircraft has also contributed significantly to the market growth of aircraft manufacturers.
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Europe is the most affected region due to the COVID-19 pandemic. Spain and Italy have registered more than 100,000 cases related to COVID-19 till the tart of April 2020. Major factors affecting the aviation industry after the pandemic include the decline in tourism in the region due to government advisories and lockdown all across the globe. Besides, lockdown in the European countries to reduce the spread of the coronavirus causes reduced commercial activities results in a sharp downfall in cargo airline movement too.
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The European aviation industry report is segmented into passenger airlines, cargo airlines, aircraft manufacturing companies, airports managing companies, and catering & other service providing companies. Due to the COVID-19 pandemic, the passenger airline segment is expected to be the most affected segment in the region. Moreover, there is a possibility that airlines will cancel orders of new airplanes due to bad economic conditions which will affect the airplane manufacturing companies in the near future. Effect of COVID-19 on the aviation industry is witnessed in each country in the region including UK, Germany, Spain, Italy, France, and others. France and Italy will be among the most affected country as the number of international tourists are higher as compared to other countries in the region.
Key companies of the aviation industry that are getting affected in the region include Air France–KLM S.A, Airbus SE, British Airways PLC, Deutsche Lufthansa AG, Qatar Airways, Ryanair DAC, SAS AB, Swiss International Air Lines AG, The Emirates Group, Turkish Airlines among others. A number of companies have shut down their operations in European countries due to government orders or operating at a very little occupancy.
As estimated, airports in Europe will receive 700 million fewer passengers in 2020, which is 28% less as expected earlier. The companies have decided to scale back its operation which includes cutting flights, removing less economical aircraft and lay off their employees. For instance, in April 2020, Air France-KLM S.A announced to reduce its capacity by 70% to 90% for the next two months due to travel restrictions in various countries. In addition, airlines and airport managing companies are asking for bailout packages from the government to survive otherwise many airlines can get bankrupt. As an estimate, the airport managing companies in Europe will incur a loss of around $15.4 billion due to coronavirus pandemic.
Segmentation
- Passenger Airlines
- Cargo Airlines
- Aircraft manufacturing companies
- Airports managing companies
- Catering & other service providing companies
Regional Analysis
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Companies Profile
- Air France–KLM S.A
- Airbus SE
- British Airways PLC
- Deutsche Lufthansa AG
- EasyJet PLC
- Finnair Oyj
- International Consolidated Airlines Group, S.A.
- Norwegian Air Shuttle ASA
- Qatar Airways Group
- Ryanair DAC
- SAS AB
- Swiss International Air Lines AG
- The Boeing Co
- The Emirates Group
- Turkish Airlines
- Virgin Atlantic Airways Ltd.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
