Part 6/9:
In this scenario, both 2020 and 2021 are lost, resulting in a delayed recovery until 2022. The economic downturn could create a more vulnerable customer base, limiting opportunities for travel and potentially shifting consumer behaviors toward local experiences rather than international travel.
Should low-cost airlines survive, they would likely capitalize on a less competitive landscape but would also face rising costs due to labor shortages and higher oil prices. As airlines grapple with purchasing aircraft and maintaining operations amidst financial strains, an increase in fares could emerge as reality.