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The Coronavirus’ Effect on the Aerospace, Aircraft, Satellites & Drones Industry, Business and Industry Trends Analysis

The Coronavirus pandemic vastly shifted travel habits of businesses and consumers alike. For airlines, passenger numbers plummeted all over the world. This was driven by a) health concerns, b) a reluctance to spend money during uncertain times, and c) government restrictions on cross-border travel. In nations around the world, governments stepped up to provide temporary financial support to airlines.

A number of airlines declared bankruptcy in the early months of 2020. Britain’s Flybe entered administration (a practice similar to bankruptcy) in March 2020, as did Trans States Airlines and Compass Airlines in the U.S. Virgin Australia entered voluntary administration in April 2020 while Columbia’s Avianca and Chile’s Latam Airlines filed for bankruptcy in May. Aeromexico filed in July. By 2021, leisure travelers had returned to airlines in significant numbers, but business travel continued to lag far behind pre-Coronavirus levels.

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