Saudi authorities seize three foreign trucks for unauthorized cargo transport    Saudi Foreign Ministry hosts Iftar reception for diplomatic missions and international organizations    Taiwan revokes visa of pro-Beijing Chinese influencer    King Salman Royal Reserve records birth of Nubian ibex    British tourist missing after Thailand boat fire    AFC Champions League Elite Finals draw sets stage for Jeddah showdown    Cannes award-winning actress Dequenne dies at 43    IsDB approves reactivation of Syria's membership    Saudi Arabia's inflation rate keeps steady at 2% in February    Peace deal must bar Ukraine from Nato, Russian official says    Saudi Arabia grants Tier 1 cybersecurity licenses to six MSOC providers    Newcastle United ends 70-year wait for domestic glory with Carabao Cup triumph    Crown Prince launches Saudi Architecture Characters Map to celebrate Kingdom's architectural heritage Saudi architecture set to generate over 34,000 jobs and SR8 billion to GDP by 2030    Dr. Soliman Fakeeh Hospital, Jeddah is among top three 5-star hospitals in Middle East and North Africa    Saudi Arabia launches loan guarantees for SMEs to stimulate investment in environmental projects    Antenna: Saudi artist Ahmed Mater opens first solo exhibition in China    Al Nassr climbs to third with dominant win over Al Khaleej, Al Qadsiah slips after loss to Damac    Saleh Al-Shehri's late penalty rescues Al Ittihad against Al Riyadh    Grand Mufti rules against posting prayers and preaching in mosques on social media    Man lives for 100 days with titanium heart in successful new trial    Singer Wheesung who wooed Korea with his ballads, found dead at 43    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Economic impacts of COVID-19 on civil aviation
Published in The Saudi Gazette on 01 - 05 - 2020

In light of the rapidly spreading disease named as COVID-19, the International Civil Aviation Organization (ICAO) actively monitors its economic impacts on civil aviation and regularly publishes updated reports and adjusted forecasts.
ICAO is working alongside the Airport Council International (ACI) in monitoring the developments and to leverage their expertise and analysis conducted on the economic impacts of COVID-19 on airports.
Analysis of economic impacts of COVID-19 - Global and State-level:
When assessing the economic impacts on civil aviation, ICAO works with many different scenarios in order to reflect the very uncertain nature of the current situation and the rapidly changing environment.
In order to explore the potential economic implication of the COVID-19 pandemic for the near future, the full report is built around 6 different recovery paths under two indicative scenarios.
The actual path will eventually depend upon various factors, inter alia, duration and magnitude of the outbreak and containment measures, availability of government assistance, consumers' confidence and economic conditions.
1. Baseline: hypothetical situation without COVID-19 outbreak with forecasts as originally planned;
2. Indicative Scenario 1 - "V-Shaped": Follows the normal shape for recession where a brief period of contraction is followed by quick/smooth recovery — most optimistic path indicated with a;
3. Indicative Scenario 2 - "U-Shaped": Indicates prolonged contraction and muted recovery with a possibility of no return to trend line of growth (L-shaped) — most pessimistic path indicated with a;
The analytical focus, in the current report, is on the near-term with monthly profiles from Jan to Dec 2020 and on international traffic only.
Scenarios 1 and 2 are not forecasts of what is likely to happen, but merely indicators of possible paths or consequential outcomes out of many.
Each scenario considers 3 different paths to take into account differentiated terms of supply (output) and demand (spending).
Impacts of COVID-19 across industries
The COVID-19 virus has spread worldwide without acknowledging borders. It has impacted all industries, all sectors and all aspects of our lives with devastating economic and financial losses and significant uncertainties.
Within the spirit of collaboration, the chart gathers information from international organizations representing the impacted industries. This information is subject to frequent change and you are invited to visit the official website of each organization for most up-to-date figures.
Figures are sourced from the International Civil Aviation Organization (ICAO), the International Air Transport Association (IATA), the Airports Council International (ACI), the UN World Tourism Organization (UNWTO), the World Trade Organization (WTO) and the International Monetary Fund (IMF). All figures are in comparison to 2019 data, except for airport revenue figures which are compared to 2020 baseline. — SG


Clic here to read the story from its source.