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Airline Furloughs Prepare The Travel Industry For Continued Drought Due To The Pandemic
The travel industry, especially airlines, have taken a huge loss this year due to the COVID-19 pandemic. The loss has been so high that it could take years to financially recover.
According to a memo written by United’s Chief Executive Scott Kirby and President Brett Hart, “While the pandemic is the worst crisis in the history of aviation, it also has presented us with opportunity.”
Airlines have had the opportunity to reinvent themselves as a means for attracting passengers to travel again.
Collectively, United and Delta have lost $16.8 billion during the first nine months of 2020. As a result, both airlines have reduced their employees by at least 20%.
As people try to find some form of normalcy again, travel is beginning to pick up. This leaves airlines strategizing what they should do to draw in more passengers.
Joe Esposito, Delta’s senior Vice President of network planning revealed in a recent industry event, “We’re literally looking at where people want to go next week.”
While we are still in the beginning of figuring out how to recover from this pandemic, airlines are planning to be in a drought for at least another year.