Market Size and Projections

• The market size for the global airline industry is $825 billion and there are 23,871 businesses. Growth within the industry was at a rate of 0.5% between 2014 and 2019.
• In December 2019, the International Air Transport Association (IATA) estimated that the industry will make at least $29.3 billion in net profit in 2020.
• The market size is expected to increase in 2020 exceeding $849 billion.

Economic Environment

• In early April 2020, it was reported that at least 43 airlines had stopped operating and canceled up to 96% of flights because of COVID-19.
• The global airline industry is looking at $1 trillion in bailouts.

Regulatory Changes

• Some governments have been putting measures in place to reduce international flights in China the spread of COVID-19 and this has lead to regulatory changes including reduced international flights in China.
• Some airlines have reduced capacity to specific geographies including the U.S.
• Continued reductions are expected of at least 20% in fleet size, especially in regions such as "Western Europe, Asia-Pacific, China, and North America".