The coronavirus pandemic has brought commercial air travel to a near standstill, and the empty skies mean airlines around the world are facing some tough questions about how long their planes will be parked and what a longer interruption to air travel could mean for the industry as a whole.
In this March 25, 2020, file photo, passenger and cargo aircraft are seen stored at Southern California Logistics Airport, in Victorville, Calif. TORONTO -- As the coronavirus pandemic brings global air travel to a near standstill, airlines around the world are facing some tough questions about how long their planes will be parked and what a longer term interruption to air travel could mean for the industry as a whole.
The airline industry as a whole may have entered the COVID-19 crisis in relatively good financial shape, points out George Dimitroff, the head of valuations at Ascend by Cirium, the consultancy arm of the company. “Globally speaking, the industry has had a decade of uninterrupted profitability,” Dimitroff told CTVNews.ca on the phone from New York City on Tuesday. “Airlines have accumulated cash reserves, they’ve got aircraft on their books that are fully owned,” he added.
performed on an aircraft to determine its functionality and airworthiness. The frequency of C-checks can vary depending on how many flight hours a plane has racked up as well as the carrier’s operational guidelines. Depending on the type of aircraft, Dimitroff estimates the cost of a C-check inspection can run anywhere from $150,000 for a narrow-body aircraft to upwards of $300,000 for a wide-body jet.
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