Covid-19 is causing recession in many countries. The picture above shows air planes belonging to Singapore Airlines & its subsidiary Scoot grounded and parked in Alice Springs, Northern Australia.
Singapore Airlines is well known to have the youngest fleet in the world. With demands for flights dropping 90%, it has no choice but to ground its fleet. It has to store these planes in a place with Low humidity to prevent corrosion while waiting for air travel to pick up again.
Elsewhere, we see Disney & other theme park Operators shutting their Parks due to countries being in lockdown. This has wiped out $2B from Disney’s quarterly profits. Will it be better in the near future? While countries are slowly re-opening their economies, the threat of a second-wave Attack could result in worst outcomes.
The only sure way to recovery is the availability of a cure – which does not seem possible in the short horizon. This forces everyone to adjust to new normals. Check out these articles…