COVID-19: 100,000 million euros of losses in the airline sector

The Christmas holidays are the time to reunite with loved ones and spend quality time together, celebrating this magical moment. But this year many will be staying home, away from the usual festivities.

“I think people are going to be very reluctant to even get together with family, especially grandparents, to travel with or to them, to have dinner together. I think some will be very concerned, whether it is worth the price of contracting the illness“says Par Trehorning, a Swedish retiree.

The pandemic has almost wiped travel and tourism off the map. The lockdowns have made many realize how important travel is.

“The year 2020 has not only been disruptive, but also devastating for many tourism and travel entrepreneurs. Everything that started as a Chinese outbreak and then reached Europe and then spread to the rest of the world has had a major impact on the industry, which not only ran smoothly, but followed a very successful pattern, highly driven by revenue and profit. “, says Eduardo Santander, executive director of the European Travel Commission.

Tourism contributes 10% of the EU’s GDP

In the European Union (EU), tourism contributes 10% of GDP and creates jobs for 26 million people, directly and indirectly, in particular for young people, women and immigrants.

The aviation industry shares the pain. The industry is experiencing the worst crisis in its history. For months, planes were grounded without warning, and some of the busiest airports were suddenly empty.

The International Air Transport Association (IATA) estimates the net losses for the industry at 100,000 million euros. The collapse of air travel puts the livelihoods of 46 million people at risk.

“I always talk about this dichotomy, between health authorities and tourism authorities, or travel and mobility and transportation. A day that passes for health authorities is a day that they have won. They are doing more research, vaccines are getting better and better. , the population is receiving the immunization they need. On the contrary, a day that passes for the travel and tourism business is a day that we have lost. There are people who are losing their jobs, there are businesses that close, some for good “, explains Eduardo Santander, executive director of the European Travel Commission.

Airlines are now preparing to play a key role in the mass transport of vaccines. An immediate boost for the sector, and a float for its own recovery and survival.