Originally Posted by
Brokenwind
The 0911 event suspended airline operations for 5 days in the US only. Everything else remained open and, to some degree, unchanged. It plummeted the world into a recession. This event has frozen global commerce and sat down any growth on a broad spectrum for more than 6 months on a global scale. It took decades from the 0911 event to recover to normal levels of operational growth in many sectors. In this case the global economy has been plunged into an abyss still unknown for over 6 months. Who thinks this recovery will be a known quantity for the airline executives, besides being the bargain buster for union execs? Scuse me, there is no history or comparison to this event...
I’d agree. The economic fallout from months to potentially over a year of global lockdowns is going to have a massive impact on economies for years to come. We haven’t even started to see the fallout from this, not just in the airline sector, but everywhere. The fear of the virus is only part of the problem. A bigger part could very well be the wake of global economic destruction that it leaves behind.