Airline industry braces for prolonged recovery from virus crisis

SYDNEY: International seat capacity has dropped by almost 80% from a year ago and half the world’s airplanes are in storage, new data shows, suggesting the aviation industry may take years to recover from the coronavirus pandemic.

“It’s also possible that a number of airlines will have gone bust and uneconomic discounts will be necessary to attract demand back,” he said in a statement. Cirium, another aviation data provider, said around half of the world’s airplane fleet was now in storage. British Airways said on Thursday it has struck a deal with its unions to suspend more than 30,000 cabin crew and ground staff in one of the airline industry’s most dramatic moves yet to survive the coronavirus pandemic.

“We still don’t know the severity of this situation. We still don’t know how long it will last,” Southwest Chief Executive Gary Kelly said in a video message.

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