The airline industry will be ravaged for years to come and the effects will be felt across the entire economy, a new Moody's report says (AAL, DAL, UAL, LUV)

• Commercial aviation will be ravaged by the COVID-19 pandemic for years to come, according to a new report from Moody's.
• Every stakeholder, from airlines and airports, to plane lessors, plane manufacturers, and parts suppliers, will be squeezed, with effects rippling across the entire global economy.
• In a best-case scenario, Moody's sees a recovery by the end of 2023, but said that it's looking more and more likely that it will take longer.
• Visit Business Insider's homepage for more stories.

The commercial aviation industry will continue to be devastated by the coronavirus pandemic for years to come, according to a new report from Moody's. The ripple effects will likely be felt across the entire global economy.

According to the report, the effect on stakeholders throughout the aviation business — from airport operators and aircraft leasing companies, to plane-makers and their suppliers — will shake up the industry well into 2022, and likely beyond.

See the rest of the story at Business Insider

NOW WATCH: What it's like inside North Korea's controversial restaurant chain

See Also:

• The iconic Boeing 747 is disappearing from the British Airways fleet after 49 storied years as the pandemic thrashes the airline industry
• 11 major US airlines have new pandemic rules for keeping passengers safe, but some are doing more than others. Here's how they compare.
• Bangkok is hosting the first major auto show since the COVID-19 pandemic began, and it may offer a glimpse into the future of large events

SEE ALSO: Airline analysts and executives predict it will take up to 5 years for the industry to recover, but airlines as big as American may not survive. Read their bleak forecasts here.

from Business Insider https://ift.tt/39bBHbz