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Jakarta Post

Three reasons the airline industry is critical to a global recovery

  • James Lambert and Tom Rogers

    Singapore

Singapore   /   Fri, December 4 2020   /  08:22 am
Z.C. Chen, chairman of BenQ, reads the duty-free magazine while wearing a protective outfit on a flight, amid the spread of the coronavirus disease (COVID-19), in Taipei, Taiwan, on November 19, 2020. (REUTERS/epost-robot)

Shares in airlines led the rebound in global stock markets in recent weeks on the news of a significant breakthrough in the race to find a C0VID-19 vaccine. While the surge reflected a welcome “good news day” in arguably the most difficult year in the industry’s history, it was also a reminder of the critical role that the aviation sector will play in the economic recovery in the wake of the pandemic. A vibrant and healthy aviation sector is a key driver of global economic growth. This is true for three principal reasons. Firstly, air travel drives spending, which stimulates growth in an airline’s host and destination economies and is key to economic recovery. In a recent study of AirAsia’s economic impact, Oxford Economics found that the airline facilitated more than 3.5 million international visitor arrivals into Indonesia in 2018. Those travelers sp...