Norwegian Air Shuttle, a pioneer in low-cost long-haul flights, said on Thursday it would drop long distance routes and focus on Europe as it tries to restructure and avoid bankruptcy.
The nightmare year of 2020 brought the airline industry s first decade of sustained profitability to a shuddering halt. The coronavirus pandemic tore through in a tumultuous, unprecedented way leaving carriers in a deep hole, along with a constellation of aerospace manufacturers, airports and leasing firms. 2021 is shaping up to be a transition year for an enterprise that takes passengers on the equivalent of 208 million annual trips around the globe. At best, the path ahead will be bumpy, with progress toward a return to travel dependent on the pace of vaccine roll-outs, access to capital, government policies and the unpredictability of a virus that s not yet fully understood. Still, there will be leaps, including the first commercial flights to near-space.
NEW YORK (BLOOMBERG) - The nightmare year of 2020 brought the airline industry s first decade of sustained profitability to a shuddering halt. The coronavirus pandemic tore through in a tumultuous, unprecedented way - leaving carriers in a deep hole, along with a constellation of aerospace manufacturers, airports and leasing firms.
2021 is shaping up to be a transition year for an enterprise that takes passengers on the equivalent of 208 million annual trips around the globe. At best, the path ahead will be bumpy, with progress toward a return to travel dependent on the pace of vaccine roll-outs, access to capital, government policies and the unpredictability of a virus that s not yet fully understood. Still, there will be leaps, including the first commercial flights to near-space.
The nightmare year of 2020 brought the airline industry’s first decade of sustained profitability to a shuddering halt. The coronavirus pandemic tore through in a tumultuous, unprecedented way, leaving carriers in a deep hole, along with a constellation of aerospace manufacturers, airports and leasing firms. 2021 is shaping up to be a transition year for an enterprise that takes passengers on the equivalent of 208 million annual trips around the globe. At best, the path ahead will be bumpy, with progress toward a return to travel dependent on the pace of vaccine roll-outs, access to capital, government policies and the unpredictability of a virus that’s not yet fully understood. Still, there will be leaps, including the first commercial flights to near-space.