COVID-19 has impacted the way we live in the past two years. Obviously, it also had a lot of impact on business as they had to live with unpredictable circumstances. A lot of companies had to shut down during the pandemic, some partially, others definitely.
With restrictions, health issues, borders closing, limited movement, one of the most impacted businesses has been the aviation industry. Indeed, in 2020 most of the flights had to be cancelled for a few months following the worldwide outbreak of the virus. A lot of companies filed for bankruptcy, others had to cut costs at an unseen proportion in this industry. Moreover, a lot of airlines companies turned to the government in order to have money and be subsidised to be able to survive this period.
With the airline restrictions, the private jet industry was seen as an opportunity. Indeed, it was one of the best alternatives to travel as it allowed to comply with sanitary regulations at the time. It was a great opportunity to travel as it respected all reglementations, depending on countries the only barrier was the current restrictions at customs.
Thus, one of the best ways to travel at the time was by renting a private jet. Indeed, companies like AEROAFFAIRES, a French on-demand rental private jet company, was seen as a great opportunity to travel for business and personal reasons. As it is still one of the convenient way to travel today, go to their website https://aeroaffaires.com in order to learn more about the travel possibilities.
What is the status of the aviation industry today?
Now in mid 2022, the aviation industry is getting back to a regular pace, but it will take time to recover from this period. Indeed, the International Civil Aviation Organisation (ICAO) stipulated that the international passenger air traffic has decreased by 60% in 2020. Recovering from such a hit will take a few years. Indeed, according to a McKinsey Study, the industry is expected to be smaller for years to come and project that traffic won’t return to 2019 levels until 2024. Moreover, in 2020 the industry’s revenues was $328 billion, around 40% of the previous year.
There are a few consequences from COVID-19 on the airline industry that are making a serious impact today. One of the biggest impacts is the shortage of air freight. Indeed, one consequence is that Air freight will be undersupplied for some time. Also, one other impact is the lack of personnel on board for airlines. Indeed, similarly to other industries such as transportations and delivery, a lot of people discovered that being away from home and not seeing their family was not possible anymore. The low pay and other downsides of the job make it one industry that is undersupplied in personnel as well.
Also, all this situation leads to an increase in ticket price for the customer. Indeed, as most airlines have debt and that a lot of people want to travel anyway because of two years of restrictions, some airlines have drastically increased their prices for commercial flights. Indeed, the industry has issued a lot of debt, more than $180 billion in 2020. Thus, they will have to increase ticket prices for a while in order to generate more revenue. A lot of airline companies are on the verge of closing due to the impact of COVID-19 on their business.
The boom in demand for the private rental jet industry
One sector in the aviation industry that has increased during this pandemic is private jet. Indeed, for reasons stipulated in the beginning of this article, a lot of people have turned to private jet rental services in order to fly for leisure and business reasons.
According to studies business travel will take longer to recover, it could wait until 2024 to reach prepademic levels. Remote working and other flexible arrangements are one of the reasons.
This has increased the demand for private jet flights. Indeed, private jet rental companies have seen an increase in demand, especially an expansion on their flying customer base greeting first-time private jet users. The flexibility, health secured and rapidity of private jet flights have attracted a lot of people from business to leisure clients.
One company that ensures best quality private jet trips for business and leisure is AEROAFFAIRES. Now that COVID restrictions are mostly lifted, renting a private jet is one of the best ways to travel. AEROAFFAIRES also focuses on customer experience, safety and ensures best prices that suit your needs.
