Covid19 / When and how will the air transport sector take off again?
The international air transport sector, a symbol in itself of the freedom of movement, is facing a deep recession, explains in this video Oliviero Baccelli, professor of transport economics & policy at Bocconi, with 55% of revenues disappearing by year end - and European airlines set to be hit even harder. “Recovery will be hard due to lack of business caused by the economic crisis and the need to rebuild trust in flying,” says Baccelli. “There will also be the need to invest in restructuring safety aspects in airports and on board. And the low-cost model will suffer most as it is traditionally based on quick turnarounds in airports and high load factors.” Some good news, concludes Baccelli, can be found in the low price of oil which could compensate the growth in other costs.