The COVID-19 Pandemic has changed the global business environment.
During the various global implementation of managing the pandemic, we were the audience in receiving the various lockdown regulations, the businesses who have to make hard decisions regarding cash flow, the retrenchment of staff, the placing of people on furlough and in severe circumstances, the closing down of businesses.
Some of the biggest and well-known brands could not survive 30 days without functional and lucrative revenue streams. Most of the airlines globally, asked for help from their various governments for financial support, most of their revenue-earning assets stranded on the tarmac at various airfield across the globe. This one industry has such a big knock-on effect on their Stakeholders and in some cases shareholders, that the industry is in Business Rescue.
Some of the companies who have been in existence for 50+ years, could not make the 30-day mark and filed for liquidation at the beginning of the global lockdown.
Then we have the industry regulators. Regulators are the Governments watchdogs to provide assurance regarding the state of the industry or is the various industries in a state. Furthermore, the regulators are dependent on the industry to generate their revenue streams. Looking at aviation, the various Aviation Authorities are primarily dependent on safety charges of passengers. With no international and domestic flights, there are no passengers and therefore no safety charges could be levied.