The airline sector by itself is challenging, and the pandemic just made it more so. Leading airlines are plagued by steep reductions in occupancy levels, fluctuating demand, and the absence of solid, reliable historical data to back pricing decisions.
In every conversation with a customer, one key conversation we have with them is to understand if AirGain 2.0 made it easier for them to not only test their pricing strategies but also made it faster and agile to make changes to the system.
At this point, most airlines would have been running to full capacities, raking in profits on almost all routes. However, Covid-19 had other plans for us. The pandemic which struck havoc in late 2019 has left most airlines reeling in debts.
Restricted movements across the world due to the COVID-19 pandemic have severely affected the airline industry, making 2020 one of the worst years in its history since 9/11 attacks and 2008 global financial crisis combined.
COVID-19 disrupted all economies and had momentarily seized cash-registers from ringing with airlines expected to lose $84.3 billion in 2020 for a net profit margin of -20.1% (IATA). Airlines all across the world witnessed a nose-dive due to the pandemic-induced-lockdowns. Realizing the prolonged impact the contagion is bound to inflict until an antidote is developed, many countries are trying to restore normalcy with the virus in the backdrop. And, as WHO rightly puts it, "We have all got to learn to live with this virus".