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Civil aviation recovery would be faster due to market size: Airbus India Prez
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SME Times News Bureau | 14 Sep, 2020
India's civil aviation recovery
would be much faster on the back of large market size, Airbus India
President Remi Mail lard said on Saturday.
Speaking at Assocham's
webinar on 'Covid-19 Impact and Opportunities' for the civil aviation
sector, he said: "The revival will at least take a year and the domestic
market should be the focus right now. Regional connectivity is of
utmost importance right now."
According to Maillard, opening up of the domestic sector in a phased manner would help in reviving the industry.
"While
the Indian airline companies are suffering losses, the situation is not
different in other countries. Passengers have to be told that travel by
airlines is the safest form of travel today. Once they get the
confidence, recovery is possible," he said.
The aviation sector is one of the worst impacted industries by the Covid-19 pandemic.
Other
panelists at the webinar pointed out that the sector is limping back to
recovery due to the opening up of the domestic flights and cargo
services.
"I believe there is a silver lining in cargo segment
which is just a percentage lower than what it was in the pre-Covid
times," IndiGo's Chief Strategy and Revenue Officer Sanjay Kumar said at
the webinar.
"The revenue from cargo has not been much affected
despite the lockdown. Domestic travel is allowed on a 60 per cent
capacity. But I think it is slowly and steadily changing," he added.
Besides, Kumar cited that the current situation is not the same as it was in the initial days of the lockdown.
"We
haven't reached the pre-Covid situation yet but we are improving. There
are several segments that are offering good opportunities. Chartered
flights too are offering great support," he said.
International
Air Transport Association's Country Director Amitabh Khosla explained
that 2020 has been the worst year for the aviation industry with losses
mounting to billions of dollars.
"The revenue for the aviation
sector in 2019 was almost around $838 billion which has come down to
$419 billion this year. Revenue for the industry has been cut by almost
50 per cent. Many airline companies globally have also filed for
bankruptcy protection," he said.
In addition, Khosla explained that the impact on the aviation sector has a cascading impact on other sectors as well.
"The
negative impact on the civil aviation sector has an impact on sectors
like hotels, hospitality and tourism. It also has an impact on the job
opportunities. We believe that the recovery in the sector would happen
only around the year 2024," he said.
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