The impact of C19 on the airport business and the path to recovery
Airports Council International (ACI) World has published its seventh quarterly assessment analysing the economic impact of the C19 pandemic, its effects on the global airport business, and the path to recovery.
It has been more than fifteen months since the World Health Organization (WHO) declared the C19 outbreak a pandemic. Since then, daily life across the globe has changed with unprecedented impacts on the global economy, trade, and mobility. Practically all aspects of economic and social activity were – and are still – disrupted.
Air transport has remained one of the hardest-hit global industries. The economic, social, and health implications for the aviation sector are far-reaching and the pandemic will affect aviation businesses, passengers, and airports for years to come. While reductions in passenger traffic have occurred as a result of past shocks (9/11, SARS, the Eyjafjallajökull eruption, for example), the prolonged, near-complete shutdown of air traffic is unprecedented since the years of World War II and has devastated travel and tourism.
Since the first vaccine dose was administered in late 2020, more than 3.35 billion doses have been administered across 180 countries. This unprecedented effort has brought more signs of recovery than even and hope of a return to some sort of normality in a near future. The International Monetary Fund (IMF) recently estimated that the global recovery is progressing broadly in line with its April projections of 6 percent growth for 2021.