On episode 18 of From the Cockpit, Magellan Jets Chief Operating Officer Todd Weeber returns to the podcast to discuss how airline layoffs and significant route cuts for commercial travel will impact the economy, as well as the implications this will have for business travelers and private aviation. Listen to the full episode below.
Magellan Jets Podcast: From the Cockpit Episode 18
On the latest Magellan Jets podcast, Weeber explains the consequences of the recent news about the massive airline layoffs due to the ongoing COVID-19 crisis. With the expiration of federal funding from the Payroll Support Program on Sept. 30, more than 40,000 airline worker jobs are “likely to evaporate,” according to the Associated Press.
“From the standpoint of the airlines, this is a very emotional and trying time,” says Weeber. “People get into the airline business because they love to travel, they love people and they love operations. And what they are witnessing is a wholesale restructuring of their entire industry just due to supply and demand.”
He adds, “There simply is not enough demand in the current environment to sustain an airline operation of the scope that existed pre-COVID.”
Airline Layoffs Economic Impact
What this means is that many major cities are seeing schedule cuts by a third or more, depending on the city pair. Meanwhile in some rural areas, there are entire airports that don’t offer any commercial service.
Since commercial aviation plays such a big role in the economy at large, from the transportation of cargo and goods to facilitating business travel, Weeber notes that this is no time to celebrate, as there are serious, long-term implications at play.
“That kind of travel network was a big part of what made our country strong,” Weeber says on the Magellan Jets podcast. “When people travel for business again, they are going to find out that what used to be able to be accomplished in one day is now going to require two or three days.”
Listen to the full episode above to learn more about how airline layoffs will affect the economy. Also, discover how business aviation solutions can help those in search of alternatives to commercial travel and more.