Carriers and the disease: the airlines set for hard landings

Economist Podcasts

The Economist

News & Politics, News

4.4 • 4.9K Ratings

🗓️ 18 May 2020

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

Which firms will fly above the covid-19 clouds? Big, low-cost carriers with strong finances seem likeliest, but either way consolidation is inevitable. The Indian state of Kerala seems to be handling its outbreak far better than others; blame an unassuming but wildly popular health minister. And whether New York’s beloved Irish pubs will craic on past the pandemic.

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Transcript

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0:00.0	Hello and welcome to the Intelligence on Economist Radio.
0:07.0	I'm your host, Jason Palmer.
0:09.0	Every weekday we provide a fresh perspective on the events shaping your world.
0:17.0	Among the Indian state of Carolas, 35 million people,
0:21.0	there have been just a handful of deaths due to COVID-19.
0:24.0	The secret?
0:25.0	Cheap, well-known techniques applied early at a rock star health minister leading the efforts.
0:32.0	And we visit the Irish pub scene in New York.
0:35.0	It's quiet.
0:37.0	Big changes were already underway before the pandemic hit.
0:40.0	Now some may never reopen.
0:43.0	But take heart, the demise of the Irish pub has been predicted many times before.
0:56.0	First up though.
1:00.0	The airline industry was one of the first to feel the impacts of the pandemic.
1:05.0	In April this year, planes carried just 47 million passengers.
1:09.0	A level of mobility that if annualized looks like numbers from 1978.
1:14.0	Quiet skies have led to record losses for some carriers,
1:18.0	but for others to bailouts.
1:20.0	But not Ryanair.
1:22.0	Today the Irish low-cost airline reported better than expected earnings for the year to the end of March.
1:36.0	But Neil Sorahen, the company's finance director, said the pain was still to come.
1:40.0	We think that we will lose approximately 200 million euro in the first quarter.
	...

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