Credit: Joepriesaviation.net
The air transport industry and its suppliers have been hoping for a much better year in 2022. Needless to say, 2020 was the sector’s worst in history, and 2021 turned out to be better but not as good as hoped, since the recovery took longer and suffered many setbacks. And now the industry is facing its next major crisis: Russia’s invasion of Ukraine.
For now, it is not nearly as severe as the global health crisis, and its effects vary greatly by subsector and geography. The depth of the effect on commercial aviation will depend on how long the invasion continues and how much aggression escalates. Although nothing can be said with any certainty at this stage, some consequences are discernible already.