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Airline industry suffered severely by Corona Virus

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Corona Virus directly hit to the Airlines industry. Flight operations are reduced up to 85% and multinationals are adopting the policy of firing their employees from their jobs. In 1st stage they have fired over 55 age group emplyees, if this situation will continue it will go very bad especially for pilots, approximately more 100,000 pilots will be fire and more than 1 Million including professional and non clerical staff will be fire.



Top multinationals worldwide grounded their airoplanes and are in huge losses of the entire history. 

The world economic outlook of airlines industry.

 -Virgin fires more than 3000 people including 600 Pilots

- Virgin Australia folds. 

 -Finnair returns 12 planes and lays off 2,400 people

 -You grounds 22 planes and fires 4,100 people

 - Ryanair grounds 113 planes and gets rid of 900 pilots for the moment, 450  more in the coming months

 - Norwegian completely stops its long-haul activity!!!  The 787s are returned to the lessors

 - SAS returns 14 planes and fires 520 pilots... The Scandinavian states are studying a plan to liquidate Norwegian and SAS to rebuild a new company from their ashes

 - Ethiad cancels 18 orders for A350, grounds 10 A380 and 10 Boeing 787. Lays off 720 staff 

 - Emirate grounds 38 A380s and cancels all orders for the Boeing 777x (150 aircraft, the largest order for this type). They "invite" all employees over 56 to retire

 - Wizzair returns 32 A320s and lays off 1,200 people, including 200 pilots, another wave of 430 layoffs planned in the coming months.  Remaining employees will see their wages reduced by 30%

 - IAG (British Airways’ parent company) abandons the takeover of Air Europa (and will pay €40 million compensation for that).

-IAG (Iberia) grounds 56 planes, 

-IAG (British Airways) grounds 34 planes.  Everyone over 58 to retire

 - Luxair reduces its fleet by 50% (and associated redundancies)

- CSA abolishes its long-haul sector and keeps only 5 medium-haul aircraft

 - Eurowings goes into bankruptcy

- Brussels Airline reduces its fleet by 50% (and associated redundancies)

 - Luftansa plans to ground 72 aircraft (in two installments)

- Hop is studying the possibility of reducing fleet and staff by 50%

 Additional info:

Currently 60 new aircraft stored at Airbus with no buyers in sight (order cancellations) including 18 A350s

They forecast a minimum of 8,000 grounded planes by September.  With an average of 5.8 crews per plane (medium and long haul combined), that would make more than 90,000 unemployed pilots worldwide.

The air transport industry is on life support!

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Comments

  1. FTA - ACCOUNTS00:19

    Maritime industry which was directly hitted by Corona Virus

    ReplyDelete

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