Ways to Measure the Impact of COVID-19 on American Airlines and its Competitors
The number of passengers on American Airlines flights has decreased by approximately 20% due to COVID-19. This is because there have been numerous flight cancellations due to the widespread nature of the virus ((Deb, 102022). The number of flights that American Airlines has had canceled has increased by over 1,000% due to the COVID-19 outbreak. The number of flights in American Airlines’ fleet has also significantly decreased due to the COVID-19 outbreak. The number of passengers that have been affected by this virus outbreak is not yet known, but it is expected to be over 10% of all American Airlines passengers.
The extent of the financial losses that American Airlines suffered due to the COVID-19 outbreak has also not yet been determined. For example, American Airlines announced that it would lose between $30 million to $35 million from lost revenue due to flight cancellations and delays (Deb, 102022). The amount of money that American Airlines has lost due to the COVID-19 outbreak will likely be more because many employees have been forced to take time off work. Additionally, because of the widespread nature of this virus outbreak, many airlines such as American Airlines will likely suffer huge financial losses because passengers have been significantly delayed or canceled flights.
Another way to measure the impact of COVID-19 on American Airlines and its competitors is to look at their stock prices on the New York Stock Exchange. A decrease in the stock price of American Airlines and its competitors is a positive factor that can be used to measure the impact of COVID-19 on these airlines (Deb, 102022). For example, companies such as United Continental Holdings have taken tremendous losses due to the COVID-19 outbreak, which has caused their stocks prices to be extremely low. On the other hand, Southwest Airlines was not affected that significantly due to the COVID-19 outbreak because they were not geographically impacted as harshly by this virus. This means that their stocks prices have been significantly unaffected by the COVID-19 outbreak.
The number of flights and passengers that American Airlines and its competitors were able to ship before the threat of the COVID-19 outbreak is also a way to measure the impact that COVID-19 has had on them. For example, before the outbreak, American Airlines was able to ship about 200 flights per week. However, due to the threat of COVID-19, it has been forced to cut many of its flights while also reducing its workforce (Deb, 102022). As a result of this virus outbreak, American Airlines could ship only approximately half as many flights before the outbreak occurred. This means that American Airlines and its competitors are currently shipping fewer planes than before this epidemic outbreak.
As shown by the findings above, the COVID-19 virus outbreak has significantly impacted all airline companies and their employees. This has caused many flight cancellations and delays that have caused many passengers to be delayed or cancel their flights. This has been a major factor in the increase in the financial crisis’s toll on travel partners such as American Airlines, Delta Air Lines, and Southwest Airlines. A lot of these financial losses have negatively affected the stock prices of airline companies. Another major factor shows how the COVID-19 virus outbreak has significantly impacted American Airlines and its competitors. Airline companies are also being forced to take further measures such as cutting wages for employees to get back into the black again.
The negative impacts resulting from the COVID-19 virus outbreak have also caused airlines to take additional measures such as reducing their number of flights by half, ultimately placing passenger safety at risk due to aircraft cancellations. This shows that there are serious safety issues within our airways that need to be addressed immediately. In addition, airlines are also causing passengers to be delayed on their flights by reducing the number of flights. This has caused a significant financial loss that is placing American Airlines and its competitors under additional pressure. Because the COVID-19 virus outbreak has significantly impacted airlines, it is a significant factor that has caused the travel crisis in America.
The magnitude of the COVID-19 virus outbreak was unprecedented and caused severe financial losses for airlines in the United States. For example, American Airlines lost an estimated $30 million due to flight cancellations and delays. Southwest Airlines also suffered tremendous losses due to the COVID-19 virus outbreak (Sobieralski 100123). This is because they had to cancel numerous flights from San Francisco International Airport, resulting in major financial losses. These facts show that COVID-19 has negatively impac
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