Airlines are one of the worst hit sector in the economy, caused by the Covid-19 pandemic. This is so because the ease of transmission is high as Airlines connect passengers from point to point. Hence travel ban placed by countries around the world has caused a devastating effect on the aviation sector.
After about almost 4 months of total economic lockdown, most countries are gradually easing the lockdown and opening up the airspace, beginning with the domestic flights. Nigeria has also followed suit last week, with the recent opening of airspace for resumption of domestic flights operations which was effective 0n 8th July 2020.
Meanwhile, the demand for air travel is facing serious set back and a downward trend, as most people are not comfortable flying now due to the fear of contacting the virus despite safety guidelines and measures put in place by the regulatory body, the operators and other stakeholders in the industry to curtail the spread of the virus. The fear of the pandemic has caused passenger demand to fall to about less than 30% load factor. This means Airlines flying their seats empty, looses revenue, incur more cost on fuel, maintenance, staff salaries (for the few retained), landing fees, navigational charges and other operational cost.
As all sectors of the economy struggles for survival, the Airlines may have to triple its effort and much more to reduce as well as efficiently manage its cost in order to ensure sustainability at this pandemic era.