Economists and institutions have cut their forecasts and experts are predicting the potential onset of recessionary environments.

In the short-term, unemployment rates will rise in all major economies. The International Labour Organization estimates 6.7% of worldwide working hours will be wiped out in Q2 2020.


The World Travel and Tourism Council (WTTC) estimates job losses of 100.8 million in the travel and tourism industry.


IMF forecasts the global economy will contract by 3% in 2020. Economic growth in US and Europe forecasted to plunge by 9.1% and 5.8% respectively. 

Impact of Covid-19 on asset prices


As of 4 May 2020

Aircraft grounded due to Covid-19


Ryanair has seen 99% of its aircraft grounded as of 14 April - however, its budget model could help it bounce back quicker than some rivals.

Airlines industry impact


IATA’s estimate of lost airline revenue for 2020 now stands at $315bn, a 55% reduction compared to last year.

International air travel impact


GlobalData predicts international travel to France, the most-visited country in the world, will fall by 41% and the US will see arrivals fall by 47%. Similar falls in visitation are forecast in many countries.

Key aviation market developments

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