Originally Posted by
ManUtd1999
True, but this isn't a "normal" financial crisis. A lot of those 10-20% haven't necessarily lost their jobs permanently but have instead been temporarily layed off. It's possible that the economy will rebound a lot quicker compared to previous examples.
I admire your steadfast optimism, but what’s required is that we need to face up to all the signals that this isn’t simply a “blip” in the global economy and aviation. The passengers that have been furloughed or laid off will not just walk into another job without financial hangover from the loss of earnings. This and many other issues, such as the price of oil and world futures markets means aviation will not recover quickly from this shock to it. Instead aviation, like so many industries, will have to be supported and gently eased back to full fitness.
The full recovery I believe and hope will happen, but there will be the loss of initial capacity and with it jobs throughout the aviation sector, this will simply reflect the global economic contraction. Those currently furloughed might be thinking about whether it’s likely they will be rehired when eventually the airlines restart a limited flight schedule, or made redundant?