The 2019 coronavirus (COVID-19) pandemic has been a global catastrophe which has disrupted business operations in all industries. The airline industry is one of the first industries that was affected from the event because the virus is easily passed among people. The implementation of vaccines since the very end of 2020, thanks to the fast studies carried out throughout the world, are trying to help coming out from this disease. Thus, governments around the world have sometimes prohibited cross-country transportation. The market value of the airline business has shrunk since then. Ultimately, this incident motivates me to study the impact of COVID-19 on the performance of the airline industry around the world. Similar events can be seen in the catastrophic shocks from airline disasters such as: the September 11, 2001, attacks in New York and the impact of severe acute respiratory syndrome (SARS) in 2003. The COVID-19 pandemic has caused disruptions in all parts of the world. In this thesis I investigate the impact on the global airline business. Three crucial announcements are selected to be studied, which are: the first case reported outside China (Event 1: January 13, 2020); Italy outbreak (Event 2: February 21, 2020) and the declaration by WHO on the global pandemic outbreak and the announcement of President Trump to ban travellers from 26 European countries (Event 3: March 11, 2020). These events created big troubles to airlines, which are still visible today. In this thesis, I will focus more on Italy and Germany, which are the two countries where I am doing my studies. I will also analyse the respective airlines of the two countries, Alitalia for Italy and Lufthansa for Germany and how did they react and manage the health crisis. The governments in each country are at an intersection — whether to provide financial support or guarantee existing debt, or to believe in market mechanisms and let the airline firms heading for bankruptcy. To back up the airline industry, several alleviation policies could deal with mergers and acquisitions, tax policy, and government subsidies.
La pandemia di coronavirus (COVID-19) del 2019 è stata una catastrofe globale che ha interrotto le operazioni commerciali in tutti i settori. L'industria aerea è una delle prime industrie che è stata colpita dall'evento perché il virus si trasmette facilmente tra le persone. L'implementazione di vaccini dalla fine del 2020, grazie ai rapidi studi effettuati in tutto il mondo, sta cercando di aiutare a uscire da questa pandemia . Così, i governi di tutto il mondo hanno talvolta vietato il trasporto tra paesi e, di conseguenza, il valore di mercato delle compagnie aeree si è ridotto da allora. In definitiva, questo incidente mi motiva a studiare l'impatto del COVID-19 sulla performance dell'industria delle compagnie aeree in tutto il mondo. Eventi simili possono essere visti negli shock catastrofici dei disastri aerei come: gli attacchi dell'11 settembre 2001 a New York e l'impatto della sindrome respiratoria acuta grave (SARS) nel 2003. La pandemia COVID-19 ha causato interruzioni in tutte le parti del mondo. In questa tesi pongo attenzione sull'impatto nel business globale delle compagnie aeree. Tre episodi cruciali segnano il percorso, che sono: il primo caso riportato fuori dalla Cina (Evento 1: 13 gennaio 2020); l'epidemia in Italia (Evento 2: 21 febbraio 2020) e la conseguente dichiarazione dell'OMS della pandemia globale e l'annuncio del presidente Trump di bandire i viaggiatori da 26 paesi europei (Evento 3: 11 marzo 2020). Questi eventi hanno creato grandi problemi alle compagnie aeree, che sono ancora visibili oggi. In questa tesi, mi concentrerò maggiormente sull'Italia e la Germania, che sono i due paesi dove sto facendo i miei studi. Analizzerò anche le rispettive compagnie aeree di bandiera dei due paesi, Alitalia per l'Italia e Lufthansa per la Germania e come hanno reagito e gestito la crisi sanitaria. I governi di ogni paese si trovano ad un bivio: se fornire sostegno finanziario o garantire il debito esistente, o credere nei meccanismi di mercato e lasciare che le compagnie aeree vadano verso il fallimento. Per sostenere l'industria delle compagnie aeree, diverse politiche potrebbero riguardare le fusioni e le acquisizioni, la politica fiscale e i sussidi governativi.
The impact of Covid-19 on civil aviation in Italy and Germany
RIZZI, SIMONE
2020/2021
Abstract
The 2019 coronavirus (COVID-19) pandemic has been a global catastrophe which has disrupted business operations in all industries. The airline industry is one of the first industries that was affected from the event because the virus is easily passed among people. The implementation of vaccines since the very end of 2020, thanks to the fast studies carried out throughout the world, are trying to help coming out from this disease. Thus, governments around the world have sometimes prohibited cross-country transportation. The market value of the airline business has shrunk since then. Ultimately, this incident motivates me to study the impact of COVID-19 on the performance of the airline industry around the world. Similar events can be seen in the catastrophic shocks from airline disasters such as: the September 11, 2001, attacks in New York and the impact of severe acute respiratory syndrome (SARS) in 2003. The COVID-19 pandemic has caused disruptions in all parts of the world. In this thesis I investigate the impact on the global airline business. Three crucial announcements are selected to be studied, which are: the first case reported outside China (Event 1: January 13, 2020); Italy outbreak (Event 2: February 21, 2020) and the declaration by WHO on the global pandemic outbreak and the announcement of President Trump to ban travellers from 26 European countries (Event 3: March 11, 2020). These events created big troubles to airlines, which are still visible today. In this thesis, I will focus more on Italy and Germany, which are the two countries where I am doing my studies. I will also analyse the respective airlines of the two countries, Alitalia for Italy and Lufthansa for Germany and how did they react and manage the health crisis. The governments in each country are at an intersection — whether to provide financial support or guarantee existing debt, or to believe in market mechanisms and let the airline firms heading for bankruptcy. To back up the airline industry, several alleviation policies could deal with mergers and acquisitions, tax policy, and government subsidies.| File | Dimensione | Formato | |
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Tesi_Rizzi_Simone_1095706_IEC.pdf
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Rizzi Simone
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https://hdl.handle.net/20.500.12075/765