Over the last 4 years or so, huge losses have occurred globally
due to many parameters. The Ukrainian -Russian War, the Plummeting Economic
situation, not to forget mentioning the worst Pandemic to hit the World in
Decades which has left whole countries crippled.
All Sectors suffered leading to the worst living conditions
recorded in history, but one of the most affected Industries was the Aviation
According to an article on Wikipedia, over 32 Airlines worldwide,
declared Bankruptcy or were acquired by larger firms.
difficult to overstate just how much the Industry has been affected, but the COVID-19
pandemic has devastated airlines. In 2020, industry revenues totaled $328
billion, around 40 percent of the previous years. In nominal terms, that's the
same as in 2000. The sector is expected to be smaller for years to come; where
airline industries are projecting that traffic won't return to 2019 levels
However, even there has been an exponential decrease in flights
both on the individual and corporate level, FLYT has a positive projection of
flights for the 5 years to come.
Corporate flights, at an all-time low over the previous 3 years
have now picked up as businesses are thirsty to pick up where they left off and
cut the losses of lost revenues.
With the Qatar World Cup and Markets picking up in Saudi Arabia
and the Gulf region, it's obvious that the market has picked up and started a
gradual climb to be at par with years Prior Covid.
As Quoted in Forbes Magazine, the past few weeks has seen
talk of large aircraft orders in the Middle East, along with speculation about
new airline launches and management changes at existing carriers.
It all points to a sense of revival for an industry that is still
emerging from the Covid-19 pandemic and also suggests that the oil-rich Gulf
states continue to see aviation as a key component of their plans to revamp