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Travel industry steps up with generosity
Lark Gould Travel, Hospitality & Event ManagementNot-so-random acts of kindness are in play in the travel industry as the coronavirus has decimated the jobs and stability Americans expect. As Americans try to make sense of it all, major travel industry brands are coming forward with measures of kindness that go a long way. These may be donations to food banks, hospitals or simple ways to relieve burdens or extend benefits.
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Survey: Travelers satisfied with industry management of the pandemic so…
Lark Gould Travel, Hospitality & Event ManagementIt’s a very tough time to be a hotel or an airline. However, as travelers and travel suppliers wrangle with the impact the coronavirus crisis is having on their personal and professional lives, a survey conducted by J.D. Power finds that the travel industry is getting positive feedback from consumers who seem to approve of the way these different factions of the travel industry are handling the daily crises at hand. The survey of 1,633 past-year business and/or leisure travelers reveals that 60% believe hoteliers, cruise lines and airlines have shown concern for the health and safety of the traveling public. In general, the more often consumers traveled, the better they felt about the industry’s response to the crisis.
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US employers shed 700,000 jobs, as unemployment rises to 4.4%
Seth Sandronsky Business Management, Services & Risk ManagementIn March, total U.S. nonfarm payroll jobs fell by 701,000 versus February's 273,000 new hires, according to a report by the U.S. Bureau of Labor Statistics. March's unemployment rate rose to 4.4% from February's 3.5%, according to the Bureau of Labor Statistics. Efforts to slow the spread of the coronavirus pandemic included local and state orders to practice "shelter in place" and social distancing," as well as closing bars and restaurants. The leisure and hospitality sector accounted for 459,000 layoffs or 65% of March's total job losses.
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3 possible economic outcomes for the coronavirus pandemic
Lark Gould Business Management, Services & Risk ManagementSurviving the coronavirus is currently top of mind for the American public. There are many likely scenarios possible within the possible epidemiological trajectories of COVID-19 and the economic response to this crisis will also develop over the next few months, bringing a new set of struggles to consider. The Conference Board, a New York-based think tank on the economy and public policy, has developed three scenarios for the development of the U.S. economy through the remainder of the year.
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Can airports survive the coronavirus crisis?
Matt Falcus Transportation Technology & AutomotiveThe ongoing COVID-19 pandemic is causing an unprecedented crisis among the aviation industry, and it is threatening to drastically change the landscape and future of airports. With much of the world on lockdown and airlines effectively grounding their fleets, many airports are operating only a few key flights per day. Experiencing little demand, airports like Atlanta, Zurich and Frankfurt have assigned whole runways as temporary parking lots for grounded aircraft. Other airports, like Paris Orly and London City, have closed completely.
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Delivery services in multiple sectors are getting a boost during the COVID-19…
Linchi Kwok Food & BeverageThe impact of COVID-19 has been devastating and will continue indefinitely. It is no longer a question of whether the coronavirus pandemic will cause a global economic downturn. It is now about how much the economy will shrink. The coronavirus will probably change how people shop, travel, and work for years. People will likely rely more on delivery services. Such demand will help boost delivery businesses even when everybody is having a tough time fighting the pandemic.
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Drive-in theaters: A blast from the past
Dave G. Houser Recreation & LeisureWith coronavirus (COVID-19) sweeping across the country, life in America is undergoing dramatic change as the populace comes to grips with the scope and seriousness of the pandemic. What's worse, the vast majority of entertainment and sporting events have been canceled or postponed to some uncertain date in the future. But there is at least one somewhat virus-proof solution to getting out of the house for the evening: going to a drive-in movie.
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Aviation outlook brings ‘fearless forecasts’ for 2020
Lark Gould Transportation Technology & AutomotiveWhile the world copes with the coronavirus, one company keeps a sobering forecast of the airline industry afloat with a vision that things will return to their more workable state in the near future. Based on pre-COVID-19 concerns, Avolon, an international aircraft leasing company headquartered in Ireland with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, recently issued a 2020 outlook paper on the aviation industry with some clear insights.
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How COVID-19 is affecting the world’s airports
Matt Falcus Travel, Hospitality & Event ManagementThe COVID-19 pandemic is causing an unprecedented attack on air travel around the world, leaving airports, airlines and travelers exposed to a period of uncertainty that is difficult to prepare for. The outbreak began in China and spread throughout the countries of Asia, affecting many of the world’s biggest hub airports. Now, a few months down the line, the effect is already being felt. Passengers at Singapore Changi Airport in February were down 32.8% on last year.
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A look at the latest developments in private space travel
Bambi Majumdar Science & TechnologyJustin Bieber and Leonardo DiCaprio are reportedly ready to take off...to space. They are among the rich and famous who are said to have purchased their tickets for Virgin Galactic's inaugural flight to space. They will be sharing cabin space with the founder of Virgin Galactic, Sir Richard Branson, among others. The company's maiden private commercial flight is scheduled to take off at the end of this year. This sector could generate billions of dollars in new business for Virgin Galactic in the future.
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