There is no industry more severely affected by COVID-19 pandemic than aviation. Travel bans as of late March could represent closer to 98% of global passenger revenue — with a three-month blanket ban equivalent to over USD 250 billion. When will the air travel demand bounce back? How rapidly can the supply side recover? KPMG experts have prepared a document on the current impact of COVID-19 on airport industry and analyzed the possible scenarios of its recovery.
Nassim Taleb, Distinguished Professor of Risk Engineering, Polytechnic Faculty, NYU is best known as the author of the famous black swan theory, a metaphor that describes rare and unlikely events that have significant consequences. By the way, the 2020 COVID-19 pandemic is a classic black swan event. Two years ago, the American essayist and professor took part in the St. Petersburg International Economic Forum, where he spoke at the Sberbank plenary session ‘Transitional World: What Will Tomorrow Bring?’
In 2011 Eric Schmidt — one of the most renowned figures in the IT industry and at the time Executive Chairman of Google — spoke at the session «The World According to Google» at the St. Petersburg International Economic Forum. What he said turned out to be remarkably prophetic, particularly when viewed from the context of the current COVID-19 pandemic and our experience of self-isolation.
