Corona Virus Able to Tumble 70% of World Airlines Giant Stock

Corona Virus Able to Tumble 70% of World Airlines Giant Stock

Guests attend a ceremony marking the 1st delivery of a Boeing 737 Max passenger airplane to Air China at the Boeing Zhoushan completion center in Zhoushan, Zhejiang province, China, December 15, 2018. REUTERS/Thomas Peter

Corona virus disease (COVID-19) really hit global economic activity due to the regional quarantine (lockdown) policy that was applied by exposed countries. The aviation industry was one of the earliest hit.

This provision applies from this Friday, April 24, 2020 to June 1, 2020 to prevent the spread of the corona virus (Covid-19).

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The Director General of Civil Aviation at the Ministry of Transportation, Novie Riyanto. Said that the flight ban applies to both domestic (domestic) and international (international) travel.

“For the air transportation sector, I first convey the ban on domestic and foreign travel. Both scheduled and charter air transportation April 24-June 1 2020,” said Novie, in a virtual press conference on Thursday (4/23/2020).

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As a result, PT Garuda Indonesia Tbk (GIAA) shares in trading session I weakened more than 4%. On a year-to-date basis, GIAA has subsided by around 65%.

Before the flight ban, the aviation industry had already been hit, even globally. As a result, shares of the largest airlines in the world also declined.

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