Travel, tourism and aviation industry provides employment to about 6.2 crore people worldwide. But due to the ongoing lockdown of corona virus, the risk of unemployment of about 25 million people globally has increased. A report in this regard has been issued by the International Air Transport Association (IATA). According to the report, there is a huge decline in air travel demand due to the lockdown. The aviation industry alone employs 2.7 million people globally.
|Asia Pacific||-11 Lakh|
|Latin America||-29 Lakh|
|North America||-20 Lakh|
|Middle East||-0.9 Lakh|
If we talk about the full-year earnings of airlines, the passenger revenue could fall by 45% in 2020 this year as compared to the previous year due to the lockdown. In such a situation, airlines may have to bear a loss of $ 252 billion in passenger revenue in the year 2020. The upcoming quarter of the year 2077 (2020-21) could be quite bad for the aviation sector globally. During this period, demand can be reduced by around 80 percent.
Seeking government help:
The Nepal government has done lockdown since 18-days to avoid corona virus and it extended for more days i.e. up to 03rd Baishakh. This is expected to cause a heavy loss for the aviation sector in the country. The aviation sector could suffer a total loss of Rs 33 Lakh crore worldwide. Airlines of the country have good earnings, but due to the lockdown, companies will have to suffer heavy losses this year. According to the report after 18 days of loss, airlines will not be in a position to resume their domestic and international flights correctly. Airlines may change their entire business modules, including the expansion of the fleet, ticket prices in up-coming FY 2077/78 due to losses.