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Airports and the global financial crisis
Global financial crisis have now hampered one of the most crucial part of commercial world and that is commercial aerospace. Airports and airplanes are now hampered a lot due to global financial crisis as more and more number of consumers travel by alternate travel conveyance domestically. This is because of the increase in fuel prices which has indirectly lead to increase in air fare which is not suiting the budget of many of the travellers. There are many reasons which has affected this and one of the most important reasons is the lesser revenue than even the break even point which is now not able to survive the infrastructure cost of the airports authority as well as airways companies. Airport authorities have tried to cut down its cost in many ways by cutting down jobs, firing employees and staffs. There are many luxury facilities available in many of the airports which are not available now and many of the staffs which were there to help you in the process of checking out till boarding will not be there which would be now handled by only one or two staff in whole process. There are many places which are not being maintained properly and many of the zones have been closed which were actually not meaningful in terms of generating business revenue but only existed as the brand image of the airport. This is because of the less or no profit coming in from any kinds of sales or by revenues which has led to lesser air traffic as well. Airway companies have cut down number of flights and only fraction of flights are operating in comparison to the amount of flights which used to operate before. This is because of less amount of booking done by travellers. This has lead to decrease as well as losing jobs for many of the cabin crew of the air planes. Air traffic has decreased considerably in many of the most traffic oriented air zones. Large number of cutting cost measures have been taken to increase the profits as well as attract the people to fly but due to increase in oil price which has lead to the increase in air fare has made it difficult to happen. This is why the down graph continues in the airplane industry and also in airports around the world. Few of the airports like Dubai and Melbourne still has same traffic as before as the people over there are not yet affected that badly and also because of its crucial location geographically. One of the main reasons why airports are not able to fulfil their desire of turning loss in to profit is the large amount of loss incurred recently by most of the airway companies which has directly hit the airport development as well as balance sheet.


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