43.39%: Annual decline in domestic air passenger traffic in the January-May 2020 period.
- The drop was mainly on account of flight restrictions imposed on March 25 in view of the coronavirus pandemic and in force until May 24
- According to airline executives, the little demand that there was during the period was unidirectional.
- Business travel took a heavy beating.
- Over 90% of flight bookings, according to travel firms, were one-way trips and on non-metro routes.
- SpiceJet witnessed 57.2% passenger load factor, Air India 54%, IndiGo 52.6%, AirAsia India 46%, and Vistara 44.1%.
A few links for further reading
Insecure and uncertain in insurance business as Covid-18 damage claims mount
Insurance companies around the world were sailing smoothly, helped by growth in emerging markets and strong capitalisation. Things changed in late February when markets realised that Covid-19’s impact on insurers could be significant. Insurers are yet to know the full impact of the crisis as governments and regulators nudge them to give moratoriums to policyholders and quickly settle claims too. India’s insurance regulator has set strict deadlines for medical insurers to settle Covid-19 claims. General insurers face damage claims from businesses devastated by the national lockdown to contain the disease. Is insurance secured to survive, Joydeep Ghosh explains
There was a time when pay cuts we see today were a complete no-no; govt and public sector jobs were considered safe, as pay and pensions were both assured. Not any longer, it seems, writes T N Ninan
Quick approval, grace period
The COVID-19 pandemic has brought home the significance of health and life insurance like nothing else earlier. Even those who were blasé about these covers in the past are now looking to buy a new policy or want to enhance the sum insured on their existing ones. Meanwhile, the Insurance Regulatory and Development Authority of India (IRDAI) has been issuing a slew of guidelines to health/general and life insurance companies aimed at easing matters for customers.