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The spread of COVID-19 is posing serious challenges to airlines, airports and their ecosystems. In the long term however the pandemic could help catalyse investment in new technologies and radically reshape the industry.
The pandemic could help catalyse investment in new technologies and radically reshape the industry.
The coronavirus pandemic is currently wreaking havoc across the global aviation industry. The likes of American Airlines and Virgin Atlantic have started deploying their passenger aircraft to carry cargo, while easyJet recently announced plans to ground its entire fleet and British Airways suspended all flights departing from its base at Gatwick Airport.
Despite huge uncertainty, in the next decade stakeholders should expect traffic to decrease and more investment to go into digital and technological advancements. This is what Paul Cuatrecasas, CEO of investment banking firm Aquaa Partners and author of Go Tech or Go Extinct, believes will be an outcome of the ongoing outbreak.
In a media briefing held last week, Cuatrecasas explained how the current health crisis might spur investment in different segments of robotics and drone technology. These changes were all meant to happen even before the spread of the pandemic, but will now accelerate, forcing all industries to rethink their ecosystems and shift towards a stronger adoption of new technologies.
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