COVID-19 pandemic and prospects for recovery of the global aviation industry The COVID-19 pandemic ushered a...

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COVID-19 pandemic and prospects for recovery of the global aviation industry The COVID-19 pandemic ushered a wave of economic decline across the world due to disruptions in the supply and demand chain for the travel market. This study examines potential recovery pathways from the global aviation industry following the severe negative impacts of the COVID-19 pandemic. Using archival and secondary data mainly from Flightradar24, ICAO, IATA and EUROCONTROL, the study found that the pandemic inflicted a heavy toll on global aviation, which resulted in ratings downgrades, liquidation and bankruptcy of several airlines and airports due to severe cash burn instigated by travel restrictions. Although the industry is opening up, the recovery process seems much slower than anticipated, which could see more jobs and airlines failing in the absence of relevant support. The study recommends that as the sector opens up, it does so in a responsible manner, which puts measures that protect travellers, reduce costs, increase efficiency, and ensure a quality customer experience anchored on employees' health and customer safety. Recovery should also occur with the view to build back better in line with the provisions of the Sendai Framework for Disaster Risk Reduction and at the same time responding to the dictates of Agenda 2030 on sustainable development goals (SDGs). Extract from: https://www.sciencedirect.com/science/article/pii/S0969699721000053 QUESTION 1 [40 MARKS] (a) The aviation industry has witnessed a steady growth over the past couple of years, owing mainly to the growth in tourism and cargo demand across the world. 1.1 Discuss the channels through which the aviation sector is important for economic growth. 1.2 After the discovery of the pandemic, the Asian aviation sector was among the first to register negative performance. Using key indicators, trace the extent of the impact of the pandemic on the Asian aviation sector relative to other regions. (10 marks) (10 marks) (b) The aviation industry is highly vulnerable to various shocks such as the COVID-19 pandemic, Severe Acute Respiratory Syndrome (SARS) outbreak in 2003, the avian influenza H5N1 in 2006, and the swine influenza H1N1 pandemic in 2009 among others. 1.3 Provide a critical evaluation of the impact of these events on the sector's viability. (10 marks) 1.4 Critically evaluate the sector's responses to increase its capacity and resilience to absorb the COVID-19 (10 marks) impact and similar shocks in the future. COVID-19 pandemic and prospects for recovery of the global aviation industry The COVID-19 pandemic ushered a wave of economic decline across the world due to disruptions in the supply and demand chain for the travel market. This study examines potential recovery pathways from the global aviation industry following the severe negative impacts of the COVID-19 pandemic. Using archival and secondary data mainly from Flightradar24, ICAO, IATA and EUROCONTROL, the study found that the pandemic inflicted a heavy toll on global aviation, which resulted in ratings downgrades, liquidation and bankruptcy of several airlines and airports due to severe cash burn instigated by travel restrictions. Although the industry is opening up, the recovery process seems much slower than anticipated, which could see more jobs and airlines failing in the absence of relevant support. The study recommends that as the sector opens up, it does so in a responsible manner, which puts measures that protect travellers, reduce costs, increase efficiency, and ensure a quality customer experience anchored on employees' health and customer safety. Recovery should also occur with the view to build back better in line with the provisions of the Sendai Framework for Disaster Risk Reduction and at the same time responding to the dictates of Agenda 2030 on sustainable development goals (SDGs). Extract from: https://www.sciencedirect.com/science/article/pii/S0969699721000053 QUESTION 1 [40 MARKS] (a) The aviation industry has witnessed a steady growth over the past couple of years, owing mainly to the growth in tourism and cargo demand across the world. 1.1 Discuss the channels through which the aviation sector is important for economic growth. 1.2 After the discovery of the pandemic, the Asian aviation sector was among the first to register negative performance. Using key indicators, trace the extent of the impact of the pandemic on the Asian aviation sector relative to other regions. (10 marks) (10 marks) (b) The aviation industry is highly vulnerable to various shocks such as the COVID-19 pandemic, Severe Acute Respiratory Syndrome (SARS) outbreak in 2003, the avian influenza H5N1 in 2006, and the swine influenza H1N1 pandemic in 2009 among others. 1.3 Provide a critical evaluation of the impact of these events on the sector's viability. (10 marks) 1.4 Critically evaluate the sector's responses to increase its capacity and resilience to absorb the COVID-19 (10 marks) impact and similar shocks in the future. COVID-19 pandemic and prospects for recovery of the global aviation industry The COVID-19 pandemic ushered a wave of economic decline across the world due to disruptions in the supply and demand chain for the travel market. This study examines potential recovery pathways from the global aviation industry following the severe negative impacts of the COVID-19 pandemic. Using archival and secondary data mainly from Flightradar24, ICAO, IATA and EUROCONTROL, the study found that the pandemic inflicted a heavy toll on global aviation, which resulted in ratings downgrades, liquidation and bankruptcy of several airlines and airports due to severe cash burn instigated by travel restrictions. Although the industry is opening up, the recovery process seems much slower than anticipated, which could see more jobs and airlines failing in the absence of relevant support. The study recommends that as the sector opens up, it does so in a responsible manner, which puts measures that protect travellers, reduce costs, increase efficiency, and ensure a quality customer experience anchored on employees' health and customer safety. Recovery should also occur with the view to build back better in line with the provisions of the Sendai Framework for Disaster Risk Reduction and at the same time responding to the dictates of Agenda 2030 on sustainable development goals (SDGs). Extract from: https://www.sciencedirect.com/science/article/pii/S0969699721000053 QUESTION 1 [40 MARKS] (a) The aviation industry has witnessed a steady growth over the past couple of years, owing mainly to the growth in tourism and cargo demand across the world. 1.1 Discuss the channels through which the aviation sector is important for economic growth. 1.2 After the discovery of the pandemic, the Asian aviation sector was among the first to register negative performance. Using key indicators, trace the extent of the impact of the pandemic on the Asian aviation sector relative to other regions. (10 marks) (10 marks) (b) The aviation industry is highly vulnerable to various shocks such as the COVID-19 pandemic, Severe Acute Respiratory Syndrome (SARS) outbreak in 2003, the avian influenza H5N1 in 2006, and the swine influenza H1N1 pandemic in 2009 among others. 1.3 Provide a critical evaluation of the impact of these events on the sector's viability. (10 marks) 1.4 Critically evaluate the sector's responses to increase its capacity and resilience to absorb the COVID-19 (10 marks) impact and similar shocks in the future.

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a The Importance of the Aviation Sector for Economic Growth 11 Discuss the channels through which the aviation sector is important for economic growth The aviation sector plays a crucial role in econo... View the full answer