American Airlines starts recall of 17,500 furloughed staff.
https://www.newsbreak.com/texas/fort...-17500-workers
Perverse to spread doomsday fake news - but to fact check the earlier reply - EK is 70% transit, not 90% - and Phuket, with it's surrounding islands having some of the most astounding natural beauty on the planet, will of course bounce back; it has inherent value.
Where some sectors have shrunk, others have grown. Even within industries - e.g Debenhams closing, whilst online clothing stores are booming.
Simply look at peoples behaviour to predict the future; you could have made a fortune buying Amazon, Zoom, Docusign or Bitcoin this year.
So now look at todays behavioural signals:
- The public are so desperate to get back to normality that they are actively ignoring restrictions = travel demand will also bounce back.
- Whenever a travel corridor opens, Airlines are inundated with bookings. EK now at 5 daily LHR A380s. What will happen when UAE is fully vaccinated and negotiates similar travel corridors?
- Businesses, after enjoying a change to home working are now sick to death of zoom calls and quickly losing productivity. Zoom stock is down 30% and still falling ever since an effective vaccine was announced.
Delta cut too deep and has had crew shortages over holidays. Surprised by demand.
BA cut too deep and has had crew shortages over holidays. Surprised by demand.
EK starting to call back UPL guys after just 2 months. Betting on a bigger summer.
https://www.bbc.co.uk/news/world-asia-india-55314709
300 million Indians, (Big market for EK) will be vaccinated by August.
Brexit did get a deal. Europe is the largest share of EK's
revenue. (30%)
EK's competitors down the road and elsewhere in the area, won't be pursing an ambitious recovery plan - more market share.
There are 44 (forty four) vaccines in stage 3 trials and beyond. The first 3 of those already producing 10 billion doses next year. IATA has a travel ePassport rolling out with your vaccination status attached to help borders reopen and quarantines be lifted asap.
The world is uniting to bring the pandemic to an end, and will continue to unite to get the economy back on track. An example is talk of wiping off recent 3rd-world debt to allow them to buy vaccinations and recover.
That's the big picture. You can look ahead or you can ignore it. Probably like you stayed in USD this year.