20 July, 2020 Resources
COVID-19 crisis: a catalyst of global transport vulnerabilitiesClick to download the full publication
The COVID-19 pandemic has triggered a mobility crisis, mainly because of physical distancing requirements and the necessity to avoid confined spaces, in order to limit the virus’ propagation. This has had a disastrous impact on the global transport sector, with air passenger transport being the most affected segment. According to IATA (International Air Transport Association), air traffic decreased by 94% year-on-year (YoY) in April 2020, and is not expected to return to its pre-COVID level before several years. Moreover, other segments of the transport sector (maritime, rail) are also experiencing a strong deterioration of their activity at the global level, even though some markets (such as rail freight between China and Europe) are benefiting from the situation. The crisis is also affecting planemakers and their suppliers, whose financial health heavily relies on aircraft activity.
COVID-19’s impact on global transport is all the more important as economic activity was already decelerating before the crisis. Additionally, the sector already had to deal with several issues and challenges, like the Boeing 737 crisis for air transport.
Similar to last quarter, the uncertainties surrounding the forecasts presented in this barometer are very high. They are primarily linked to the global health situation: since June, the pandemic has continued to gain momentum.
01 October, 2020
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