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Economist Podcasts

Flight risk: airlines and covid-19

Economist Podcasts

The Economist

News, News & Politics

4.35K Ratings

🗓️ 16 March 2020

⏱️ 21 minutes

🧾️ Download transcript

Summary

Travel restrictions that are proliferating worldwide may represent an existential threat to many airlines. How long the pandemic lasts will determine how much the aviation industry is reshaped by it. We ask why the Philippines’ politics is so much more socially conservative than its populace. And the self-defence measures being developed for delivery drones. For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/radiooffer

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Transcript

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0:00.0

Hello and welcome to the Intelligence on Economist Radio. I'm your host, Jason Palmer. Every weekday, we provide a fresh perspective on the events shaping your world.

0:17.5

Divorce is still illegal in the Philippines, although a bill that's currently with the Congress may change that.

0:24.6

We ask why the country's politics and its politicians are so much more socially conservative than the citizens seem to be.

0:31.6

And the era of delivery by drone is nearly upon us.

0:36.6

But how will drones avoid the thieves and the mischief makers who will try to down them?

0:41.6

We look into some technology that may help keep drones and your delivery safe.

0:53.8

But first...

0:55.0

Over the weekend, global reactions to the COVID-19 pandemic led to more travel restrictions, more border closings, and more cancelled flights. Spain began a national

1:12.9

shutdown like the one in Italy. France shuttered all of its non-essential public buildings,

1:18.2

and today Germany will close its borders.

1:24.8

Rwanda, Morocco and Kenya, among other African countries, put tighter controls in place,

1:30.4

halting flights and closing schools and universities.

1:33.9

America's ban on travelers from Europe took hold, leading to chaos in American airports.

1:39.6

Without a national plan in place, American cities and states are enacting their own restrictions.

1:45.1

New York's mayor, Bill de Blasio, closed public schools.

1:47.8

So this is a decision that I have taken with no joy whatsoever with a lot of pain, honestly,

1:52.6

because it's something I could not in a million years of imagine having to do.

1:57.8

But we are dealing with a challenge and a crisis that we have never seen in our lifetimes

2:02.8

and has only just begun.

2:05.1

The most decisive top-down move came from America's Federal Reserve, which cut interest rates

2:10.3

to near zero and promised to pump $700 billion into the economy.

2:15.2

Like others, we expect that the illness and the measures now being put in place to stem its spread will have a significant effect on economic activity in the near term. Those in travel, tourism, and hospitality industries are already seeing a sharp drop in business. The industry clobbered hardest by the pandemic, it seems, is the one responsible for helping

...

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