COVID-19: losses of European airlines
Before the epidemic and quarantine on a typical weekday in Europe, more than 31 thousand flights were carried out. However, after the borders were closed and strict isolation measures introduced, airflow fell by 90%.
Airplanes stand idle on the ground, passengers sit at home, and carriers suffer huge losses. For example, Easyjet and Ryanair at the beginning of May reduced activity by almost 100%. For other large European companies, the situation is not much better.
Check out our latest Comprehensive Assessment of the impact of #COVID19 – showing a very slight move upwards in the number of flights. https://t.co/sSmD7kv5kT @Transport_EU @ECACceac @IATA @A4Europe @eraaorg @EBAAorg @CANSOEurope @ACI_EUROPE pic.twitter.com/5GzAI5Z2rr
— Eamonn Brennan (@eurocontrolDG) May 7, 2020
Thus, Air France-KLM in the first quarter, including the first two weeks of the coronavirus epidemic in Europe, suffered a loss of 815 million euros. As a result, the French company went into a protracted debt corkscrew. According to experts, to recover the loss, it will take more than one year.
According to the estimates of Airports Council International Europe, the European Airports Association, the total losses from the coronavirus epidemic will amount to 14 billion euros. And this is only for airlines, not counting the adjacent lagging behind, as the service sector, shops, cafes at airports, as well as the activities of tour operators.
