Aviation business globally had one of its worst nightmares in 2020. WOLE OYEBADE highlights defining moments in the local sector, authorities’ actions, and inactions at reaching stability.
Modern commercial jets are programmed to be in the sky, earning revenue and meeting financial obligations round-the-clock. To have them grounded for a day is alien to the aviation business. x
But for one-third of 2020, or more, global airlines had entire fleets grounded and inactive, creating a financial crisis that will require another three years of intensive recovery efforts to fix.
What began as an epidemic in Wuhan, China, in the twilight of 2019, spread across the globe in the first quarter of 2020. As the main culprit of the transmission, airlines came under restrictions as nations closed borders and imposed rare lockdowns.
The year 2020 was make-or-break for many consumer-oriented companies. The COVID-19 pandemic pushed some companies that had previously been weakened by the retail apocalypse and U.S.-China trade war into bankruptcy.
Meanwhile, companies with forward-thinking business models seemed to weather the economic storm well, and in some cases flourish. They did so, in part, by catering to consumer trends that had developed
before the pandemic but were also accelerated or possibly exacerbated
by the pandemic.
Let s take a look at the seven defining consumer trends of 2020, how they affected investors, and whether or not those trends will continue in 2021.
Image source: Getty Images.
In a memo this week, Delta Airlines’ CEO told staff nearly 700 passengers have been placed on the no-fly list in 2020 for refusing to comply with policies requiring masks on planes.