, Columnist
Winter Is Coming for the World’s Airlines
It will only get worse after a terrible third quarter, government relief running out, and no end to Covid-19 in sight.
Visibility is poor as airlines head into 2021.
Photographer: Marina Lystseva/TASS/Getty
This article is for subscribers only.
If you think your summer holidays were lackluster in an era of pandemic-induced staycations, spare a thought for the world’s airlines.
The industry typically earns some 40% of its profits in the third calendar quarter alone, as the surge in travel gives carriers the chance to finally fill up planes at prices that can pay off their wage, fuel and debt bills.