Let the airlines take a chance

A brief note about civil aviation and everything related, including plane makers and service providers. This is a sector that is deeply impacted by the coronavirus crisis. It will be one where major losses will occur. Every airline is losing massive amounts of money daily. And no one can predict when the skies will open again. The longer the wait the greater the risk of insolvency, of extensive disruption. And governments cannot save the entire sector. Any public money invested in aviation economics will be based on a reduced presence in the skies, on fewer planes and fewer jobs. It will be very tough. They will be competing against so many other demands on limited public resources. But let me be clear: it is critical to resume a handful of flights. It might be less expensive than keeping the planes on the ground. And it will help everyone to see where the priorities must be. The airlines will make their choices. In this case, the first role of governments should be to facilitate air travel, to lift the restrictions that make no real sense from a public health point of view.

Global America

President Obama’s address, this afternoon, about the health coverage initiative and the shutdown of government services, will certainly have an important impact on American public opinion. The finger pointing at the Republicans was very effective. I think it is the right approach. The pressure on the Republican Party should convince its leaders that it is in their electoral interest to find a way out of the current crisis. The sooner they do it the better as the continued shutdown will end up by having a major impact on the economy both in the US and elsewhere. Today’s world is too interconnected for us, Europeans, to say this is a mere American issue. It is not. We will end up by being concerned as well.