Supposedly there are more than 14,000 airplanes parked around the world right now. And according to the latest numbers from IATA, this is expected to translate into an $84 billion loss for global commercial airlines in 2020. The industry is not expected to return to profitability until 2022. As a point of comparison, net profits were about $26.4 billion last year.
Some more numbers from IATA:
Here is something else from the Journal. The number of airline routes has doubled over the past two decades. That has included the number of city-to-city routes. IATA is predicting that by the end of this year we will see these urban routes decline by about 20% compared to last year. And who knows when they will return. Perhaps in 2022, along with profitability.
The reason I point this out is because if you follow the work and writing of planner Joe Berridge, you will know that he often cites airports as being a key piece of infrastructure for global cities. At one point, having a deep harbor was everything you needed in order to bring in goods and people. But today a solid airport is paramount.
Will the loss of this city-to-city connectivity have an impact on some cities?