A naukri.com initiative
Bloomberg Quint
1M
212
Image Credit: Bloomberg Quint
Nervous Skies: Flyers Rethink Plans After Deadly Crash, Bomb Scare And Iran-Israel Airspace Chaos
- The aviation sector is experiencing turbulence as flyers rethink their travel plans following a deadly crash, bomb scare, and airspace chaos between Iran and Israel.
- Travellers are increasingly seeking information about aircraft safety records before their flights, but flight bookings haven't significantly decreased, with cancellations remaining minimal.
- The recent disruptions, including a fatal plane crash and the closure of airspace by Iran, Iraq, Jordan, and Israel, have led to flight diversions and flight recalls, affecting routes to Europe and North America.
- Air India had to reroute several flights, causing delays and cancellations for passengers traveling from Delhi, Vancouver, London Heathrow, and New York.
- Despite the challenges, alternative arrangements were made by airlines to ensure passengers reach their destinations safely and receive necessary accommodations.
- The series of aviation incidents has caused a decline in travel and tourism-related stocks, with aviation companies like Interglobe Aviation and travel platforms experiencing stock price drops.
- Experts believe that the current decline in aviation stocks may be short-lived and attribute it to a combination of sentiment shock and an increase in crude oil prices, rather than a direct impact of the recent events.
- The historical trend suggests that aviation stocks respond significantly to crashes only in cases of direct business or regulatory implications, indicating that the current market reaction might be sentiment-driven.
- Despite the temporary setback, experts expect resilience in the air travel industry in the medium to long term, highlighting the potential for recovery in the travel and hospitality sectors.
- Flyers have expressed nervousness about air travel on social media, with some changing airlines or canceling their trips amidst the uncertainties in the aviation sector.
Read Full Article
12 Likes
For uninterrupted reading, download the app