Yahoo Finance2020 Outlook on Key Trends in the Airlines Industry Influenced by COVID-19 - ResearchAndMarkets.com
The "Key Trends in Airlines" report has been added to ResearchAndMarkets.com's offering.
The rapid decline in domestic and international travel caused by the COVID-19 pandemic has created a drastic knock-on impact for the airline industry. With the temporary collapse of tourism flows, many airlines have reduced flight schedules and suffered from lower-than-normal load factors, causing many to rapidly streamline operations in order to navigate the pandemic. However, airlines are adapting and adopting new technologies and strategies in a bid to cater to changing consumer preferences.
Key Highlights
Harnessing new technology may be the difference between survival and bankruptcy for many companies. New technology can give airlines an advantage over competitors and give customers a unique experience. American Airlines has announced its implementation of new technologies that set the stage for a smoother customer experience. An electronic wallet, mobile ID and virtual assistant are now available to make flying with the airline as seamless a journey as possible.
With rising concerns over climate change and increasing commitment to be carbon neutral, cleaner modes of transport will be required. It is vital that companies adapt to demand and enable the next generation of aircraft to use advances in electric and autonomous technology to produce new, greener ways of flying. This combined with the global COVID-19 pandemic means there has been a dramatic shift in market needs and wants.
Many airlines have benefitted from government support, but not all are so fortunate and many are having to be creative as they look to diversify revenue streams. Examples include clothing lines and using aircraft as restaurants.
At the beginning of the pandemic, companies were quick to adopt a range of cost-cutting strategies to diminish the effects of COVID-19. As capacity is cut, the need for staff is reduced. Furloughing has been the most common choice so far, allowing airlines to cut costs while maintaining a workforce for later.
A major challenge for airlines will be following social distancing restrictions, whilst continuing to make a profit. Low-cost carriers rely on high load factors for profitability. It will be interesting to see how airlines address this issue in the coming months.
Scope
This report provides analysis of key market trends, M&A deals, and company strategies in the airline industry.
Major airlines are assessed, along with an analysis of different market segments to provide valuable insight. Challenges along with opportunities in the industry are explained in relation to industry examples.
Reasons to Buy
Gain an insight into the airline industry's leading players.
Understand the key traveler types airlines can look to attract
Look at the impact of the COVID-19 pandemic on this industry
Gain a detailed understanding of the key trends, issues and challenges facing airlines
Key Topics Covered:
Snapshot
Major airport projects currently under construction
Airline Categories
Key Market Trends Influenced By COVID-19
Company Case Studies
Sector Deals
Advertisement Activity
Challenges and Opportunities
Appendix
Companies Mentioned
Korean Air
IAG
Ryanair
Flybe
easyJet
American Airlines
Avianca
Virgin Australia
Bain Capital
British Airways
China Eastern
Lufthansa
Delta Air Lines
United Airlines
For more information about this report visit https://www.researchandmarkets.com/r/v66tii
View source version on businesswire.com: https://www.businesswire.com/news/home/20201125005645/en/
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