Skytra, the Airbus subsidiary, has released its weekly update showing the impact of the COVID-19 pandemic on the global airline industry?s revenue, air travel ticket prices and future flight bookings.
Airbus established Skytra, to help the $1 trillion air travel industry manage for the first time volatile air ticket prices, an important area of financial vulnerability for the industry. It has built a family of air travel price indices, which will underpin a new class of derivatives contracts to be traded on a platform that it is also developing.
The data suggests that the impact in the ticket pricing is going to be significat as it might drop to as much as 30% in some regions. It will be interesting to see how airlines will be pricing tickets in the coming days. The ticket sales for upcoming months remained low in comparision to 2019 and again refunds are outstripping sales leading to values of -100% when compared to 2019.
Skytra?s indices are supported by a ticketing database that includes IATA DDS (Direct Data Solutions), covering 83% of worldwide air travel by value. The scale and the depth of the database allows Skytra to show the impact of COVID-19 on the air travel industry.
