The Future of Aviation Industry

According to the Sources, this is the Worst Crises faced by the Industry after 2008.

Here are some of the news that we have been hearing all over the News:-

• Analysts surveyed by Refinitive expect airlines earnings to drop more than 200% in the first quarter of this year.

• United Airlines have warned their Investors that the First Quarter net loss will come around $2.1 Billion.

• Africa's Largest airline Ethiopian Airlines announced that they are facing revenue loss of $550 Million.

• Emirates to resume flight operations in July.

• Singapore Airlines to resume operations in June.

• Debt Pile of Virgin Australia rises to $4.8 Billion.

These are some of the news from the carriers now lets see the situation with the top airplane manufacturers i.e., Airbus and Boeing.

• Airbus has cut the airplane production by 1/3rd

• The new A-321 assembly line has been put on hold.

• Airbus has halted works in Alabama plant.

• Airbus to cut the A 320 Production by 50%.

• Boeing cuts Workforce by 10%.

• Boeing South Carolina Plant to remain Suspended.

More other Notable Developments.

• Lufthansa considers immediate retirement of A-380's.

• Virgin Atlantic has immediately retired its A-340 fleet.

• Corsair retires final of its A-340.

The situation of the Aviation Industry is considered to still be unclear with major airlines reporting losses and with majority of the other carriers are on the Verge of Collapse, if the money isn't infused in their business.

But one thing is clear: the air travel will change drastically for example, the seat capacity offered by the airlines will be a lot less as compared to the last year which may result in higher ticket prices. Also there might be a possibility that if the current situation stretches for few more months, the travelers will have limited choice of carriers to choose from and if this happens, this will change the face of Aviation Industry.

And since Aviation is interconnection between Suppliers, Service Providers and customers, this will also have a drastic impact in some of the major Economics of the World.

Let's hope that the situation gets better soon.