The aviation industry has been doing so badly these past few years that it is NEVER going to recover. Every single major airline in Europe has either gone bust or is bankrupt. The American continent has also suffered a huge amount of airline bankruptcies. Asia and Africa are doing surprisingly better than the rest of the world but I doubt that the next few years are going to bring prosperity for them as well. In the past 3 years, a large amount of new airlines have appeared and disappeared all across the world. In 2017, we saw the two European giants of Monarch (a famous British charter airline that was popular with tourists traveling within Europe for cheap prices) and Air Berlin (a German private airline that was a resounding success, the problem being that they weren’t cautious enough as their fleet was too big and they had too many subsidiaries) go down in a big, undramatic crash, mainly due to the market being overcrowded. In 2018, we saw Cambodia, China and South Korea become the new centers of a mass of start-ups but it still didn’t change much as South Korean airlines Air Philip and Air Pohang didn’t even last 10 months before dropping dead. Thailand was also the center of numerous airline bankruptcies in 2018 whereas western Europe’s charter and scheduled airlines took an enormous hit in 2019. This year will be even worse than 2018 and 2019 because of the coronavirus and the substantial amount of damage that it has created for the world’s economy. We musn’t give up praying, dear aviation geeks, but we must admit that this a dark period for the aviation industry. 19th of April 2020.
Aeronews24 