It’s been a long time coming, but Reed Exhibitions have finally confirmed the postponement of Aircraft Interiors Expo (AIX), World Travel Catering & Onboard Services Expo (WTCE) and the Passenger Experience Conference (PEC), as a result of the growing spread of COVID-19 in Europe.
According to Katie Murphy, Portfolio Director at Reed Exhibitions: “The health and safety of our exhibitors, visitors and staff is our number one priority. In close coordination with all partners involved, we will promptly announce an alternative date for the events.”
As a consequence, the Crystal Cabin Award Gala dinner and prize-giving ceremony, scheduled for 31 March, has also been postponed.
The announcement comes as losses to the aviation industry mount up.
IATA updated its analysis of the financial impact of COVID-19 on the global air transport industry. Forecasting global revenue losses for the passenger business of between US$63 billion (in a scenario where COVID-19 is contained in current markets with over 100 cases as of 2 March) and $113 billion (in a scenario with a broader spreading of COVID-19).
One immediate loss has been Flybe’s entry into administration. According to a Virgin Atlantic spokesperson, “Sadly, despite the efforts of all involved to turn the airline around, not least the people of Flybe, the impact of COVID-19 on Flybe’s trading means that the consortium can no longer commit to continued financial support.”
For Ralph Hollister, Analyst, Travel & Tourism at data and analytics company, GlobalData, ““The impact of coronavirus may have also provided the perfect opportunity for a Virgin Atlantic led consortium to stop injecting money into a business that seemed to be some way away from achieving profitability.”
He adds: “Coronavirus could determine the fate of other struggling airlines on a global scale as worldwide demand for travel plummets. Larger airlines are also not immune from the impacts of the virus. Virgin itself announced emergency measures, including cutting executive pay, and urging other staff to take unpaid leave.”
For many analysts, the real test for the industry will be the Easter holidays. Will families still travel abroad? What is certain, whenever demand resumes, airlines need to be ready.
