Airlines Fear Yet Another Wave of Financial Crises

Airlines Fear Yet Another Wave of Financial Crises

For the past three years, the aviation industry has been suffering one blow after the other, starting from the nearly complete half of operations during the first months of the COVID-19 outbreak, to the Russian invasion of Ukraine and what it meant to travel routes to and from Europe. Now, airlines are reporting yet a new set of challenges.

During the first few months of coronavirus lockdowns, most airlines announced laying off thousands of staff workers in a bid to cut costs amid the crisis that slashed their profits to historic lows.