OAG Coronavirus Update - Week Thirty-Eight 32,000 Professionals Furloughed As Capacity Stabilises
In the week that some 32,000 aviation professionals’ careers were placed at risk in the United States as the CARES Act expires, it feels like a really flat week for what is a great industry.
It seems that this week’s capacity data reflects what is probably one of the most depressing weeks of the Covid-19 crisis; we knew those furloughs were coming but just hoped that they could be avoided, perhaps they still can.
With some 58.3 million scheduled seats this week, global capacity has only fallen by some 200,000 which may perhaps suggest we are beginning to see capacity bottoming out; at least for the next few weeks ahead of the IATA Winter Season. Capacity is now at some 51% of the same week last year and IATA’s latest forecast suggest a slower growth rate for the rest of the year resulting in an industry loss of some US$84.3 Billion, it could of course be more; it certainly will not improve.
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