The airline industry has plenty of disruption still to come and desperately needs restructuring, a high level virtual conference heard this week.
In his introduction to the 2020 Aviation Summit, CAPA Centre of Aviation chairman emeritus, Peter Harbison, said that the industry has seen about a 60% drop in passenger numbers globally during the crisis.
On top of this many airlines have, for decades, failed to produce a decent return. ‘This is the time to change the industry.’
Harbison predicts a medium term future with lower frequencies, fewer routes and higher fares.
‘We’re also likely to get much more government involvement, and that’s not where we want to be.’
