How the coronavirus outbreak is impacting aviation
The coronavirus outbreak has had a much deeper effect on the world aviation industry than expected. Compared to other disease scares, warned analysts have said the impact has been huge however, before we begin discussing the corona virus outbreak and its impact on commercial aircraft charter and more, it’s worth making one very important note. The impact the epidemic is having is constantly evolving. It’s fluid. So while the information we give in this article may be current at the time of publishing, due to the nature of the disease, it could very easily change.
Coronavirus and aviation
It’s common knowledge that cargo and passenger airlines in and out of China have been suspended. This will hurt both China’s economy and civil aviation. The cancellation of between 6000 and 7000 flights, with the vast majority being domestic, will see China taking a huge hit not only now but for a long time to come. The coronavirus itself has spread to more than 20 countries across the globe, from Japan to South Korea, France, Russia, Spain, Vietnam, Cambodia and even right here in the UK. What’s needed now is cooperation between governments as well as healthcare organisations. This is key to helping stop the spread of the virus.
What have we learnt?
This isn’t the first disease that’s spread globally and caused such concern. Looking back on previous cases, from SARS in 2003 to Bird Flu in 2017, when travel restrictions are in place, the demand for air travel naturally falls. With the SARS outbreak in 2003, the global losses in aviation alone topped $10 billion. Looking at the number of air passengers in China alone - it’s tenfold. It’s not hard however, to imagine the devastating impact this will have on not only the aviation sector but the country’s economy, tourism, construction and even food industry.
Aviation bouncing back
With previous outbreaks, the aviation industry has bounced back once the fear of transmitting the disease has been overcome. Usually within as little as two months, returning to normal levels entirely within as little six months.
While this rate of bounce back is phenomenal, taking a hit in the first place shouldn’t come as such as shock. The aviation industry is sensitive to shocks. From political tensions to economic crises; the aviation’s vulnerability to external shocks is clear. Take into consideration the uncertainty of how far or wide a virus will spread and it’s no wonder the aviation sector is taking such a hard knock this time around.
The Coronavirus costs will undoubtedly be much higher as it spreads, with estimated costs being around $15-20 billion if a solution can’t be found in the short term. While the aviation industry will indeed bounce back, the question of ‘when’ remains unanswered for now. This disease looks set to cause much bigger losses and only time will tell just how big.
For more information on how our flight support company may be impacted, or how this could affect you, simply contact us today at Flightworx. Our team are on hand to provide you with the most up-to-date information whenever you need it.