The
attacks of September 11, 2001 are unique in their nature. Even if we do not have
any beloved one who died in that traumatic attack, we all have been touched,
atleast indirectly by their deaths. Since, our country has never experienced
event of this extent before; we are left with a very little information as how
the people could have coped with this act of terror.
The incredible effect of September 11th terrorist attack has touched in essence
each and every person in one way or another, nevertheless, conceivably nowhere
was the damaging impact felt more gravely than in the aviation industry. In
essence, people were apprehensive to leave the shelter and sanctity of
accustomed surroundings and, as a direct outcome; airplane travel plunged to a
new low.
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This direct response to the possibility for following attacks caused untold
numbers of airline personnel to be laid off indefinitely, while the airlines
themselves took such an economic battering that numerous airlines required
government support in order to stay in business. While marketing strategies have
mirrored the obligation for people to conquer their fear and once again support
the airline industry’s unstable and unsure being.
General
aviation is one of America’s major employers, and has lost hundreds of millions
of dollars since September 11. Fixed-base operators, flight schools,
manufacturers, aerial surveyors, and small charter airlines all have been
dramatically affected.
The tormented aviation industry has had a tremendous depressing effect as many
prominent airlines have avowed flight decrease and staffing cuts, while putting
off orders for aircraft. Reduction in travel will severely influence the lodging
industry and convention-related business, which in turn will weigh down one
source of earnings for numerous cities.
The amount to which the aviation industry surroundings is altered now than prior
to September 11, 2001 depicts the notable lengths to which the nation’s security
system has been developed. This expansive development in the wake of America’s
most terrible terrorist attack in history is, nevertheless, said to be just as
incompetent and inept of sidetracking another 911 episode as what subsist before
the fateful day, that the aviation industry has strategically reinforce itself
has made all personnel more acutely conscious of the likelihood for a repeat
performance, however the absolute performance of these presidential established
rulings and the transportation security administration part keep on to leave
gapping holes in the altogether objective in the direction of national defense.
Around the country, air travelers now diligently wait in long lines after
emergency security procedures have been established to avert further
catastrophe. Thousands of personnel and staff, not only from the airline
industry, but also well beyond it, have lost their jobs. In the middle of these
arduous times, it is necessary and important that Congress acts to guard and
preserve Americans from future terrorism and to furnish economic aid to those
left unemployed in view of the dreadful acts of September 11th. It must be
ensure that safety for crews and passengers is kept on top of the list, and to
reinforce our economy by helping the turbulent airline industry.
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The irony is that terror attacks in the US have adversely affected the airline
industry, which was already in a depression. Airlines not only in the US but
around the world are cutting down flight routes and lying off workers. Some of
the companies are even on the verge of insolvency. Even before the 11th of
September, airlines around the world were suffering quite badly; it was
estimated to be a bad year for profitability. Majority of them in the US was
already going to lose money. Since the catastrophic incident of 11th September
things have taken a bigger turn for the worse.
US Airways is in financial ruin. American, the world’s largest airline, is
restructuring and cutting jobs to elude bankruptcy. In back of the attack Major
airlines initiated posting quarterly losses and turned to cash reserves. AMR
Corp., the parent company of American Airlines, lost $507 million in the second
quarter of 2001. United Airlines parent company, UAL Corp., lost $365 million.
Financial analysts predicted of around $2 billion in industry losses for 2001.
When Ronald Reagan Washington National Airport was closed for three weeks it
caused a grave effect on the airport and local economy, Arlington-based US
Airways, the airport's largest airline tenant, was crippled due to this dilemma.
Airline marketing departments are noticing a corporate attitude shift that
accentuates productivity over customer suitability.
Travel agencies are losing more or less $25 million per day in earnings from
sales. It is estimated that the altogether impact on the aviation industry alone
from the September 11th attack will be in billion’s fixed on foreseen revenue
declines and cost augmentation. The aviation industry has suffered a major blow
more solemn than anything that has ever transpired. However the industry is not
annihilated and there are few good reasons to anticipate that it will redeem and
sustain the kind of growth we are accustomed to seeing but it will take time to
get there.
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