Airline industry disruption due to Covid has far-reaching effects: Moody's

Industry is a critical cog in the broader global economy, says investor service company

The global airline industry has been disproportionately affected by COVID-19 and is one of just a few industries that saw more than 90 per cent of demand fall within weeks of the global spread of the pandemic in March, Moody's Investors Service said on Monday.

The strain on the industry's previous fundamentals is (and will continue to be) felt across a broad swath of the global economy well into 2022 and beyond, it said.

"This is driven by our expectation of a gradual and protracted return of passenger traffic which will be inextricably linked to coronavirus-related health and safety concerns