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Flying High With Technology - The Airline’s Road to Recovery

In 2020, the airline industry's revenue totaled $328 billion, a mere 40 percent of the year before. The sector is projected to remain small for the foreseeable future with traffic not returning to 2019 levels before the end of 2023. With borders and airports slowly opening up, airlines finally have a reason to rejoice. However, the impact of COVID is more profound. Unlike the 'purely economic' 2008 financial crisis, COVID-19 hasn't simply weakened spending power, it has changed the consumer behavior irrevocably.