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THE IMPACT OF COVID-19 ON THE AVIATION SECTOR IN EUROPE. A CASE STUDY OF ROMANIA

Camelia Gheorghe () and Teodora Roșu
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Camelia Gheorghe: Romanian American University, Bucharest
Teodora Roșu: Romanian American University, Bucharest

Romanian Economic Business Review, 2023, vol. 18, issue 2, 103-129

Abstract: Since the declaration of the COVID-19 outbreak as a pandemic in March 2020, aviation has been one of the industries hardest hit by the Coronavirus crisis, as most of the countries closed their borders and suspended international air travel. This disruption, greatest in the history of aviation, called for innovative ideas to recover and to exceed pre-pandemic levels. This paper discusses the economic impact of the COVID-19 pandemic on the aviation industry. The purpose of the study is firstly to analyze the impact of the Coronavirus on the global aviation industry and then, shift to a more focused perspective on Europe, more specifically on Romania. The data collected ranges from January 2019 to June 2022 from official databases such as IATA, OECD, ATAG, AIC and many more. A study was also conducted online, to a sample of 132 respondents from Romania, in order to understand the travel patterns after the travel restrictions have been lifted. The survey showed that there is a strong interest for international travel, and that there are multiple aspects that the aviation industry should take into consideration for a sustained recovery, based on the preferences of the consumers. At the same time, based on the findings, the paper also provides estimations in terms of the future of the aviation industry at regional level, and suggestions that economic actors could put in practice on their path towards recovery.

Keywords: aviation industry; COVID-19; crisis; economic impact; revenue loss; Europe; Romania (search for similar items in EconPapers)
Date: 2023
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