The safety of travel by plane over other modes of transport is a favourite comparison for airline staff when trying to reassure anxious passengers. While aircrafts are as safe as ever, the sector's future has been in danger since the beginning of the pandemic. Recent events involving faults in planes will not help.
On Saturday, debris from a malfunctioning engine on a United Airlines flight tumbled down on to a Denver suburb. The plane in question was a Boeing 777 equipped with Pratt & Whitney 4000-112 engines, a model that has now been grounded by Japan's civil aviation authority, with backing from the Chicago-based manufacturer.
This will be a major blow to a company that had already posted a record loss of almost $12 billion in 2020. European manufacturer Airbus, Boeing's main rival, also saw a hit of more than $1bn last year.
Many of the challenges confronting the sector are outside its control. Passenger demand for international travel fell by more than 75 per cent in 2020 against 2019 levels. Airbus has had to cut about 15,000 jobs and does not expect aviation return to pre-pandemic rates of travel until possibly as late as 2025. While the company predicts making a profit in 2021, pessimists argue a far slower timeframe, pointing to the immense challenge of rebuilding a sector now experiencing activity rates not seen since the 1980s and 1990s.
An aerial view of debris scattered across a Denver suburb by a machine malfunction onboard a Boeing flight. AFP
Passenger demand for international travel during the pandemic fell by over 75 per cent in 2020
There are also ways in which aviation itself is to blame. In 2018, Boeing was widely criticised for its response to two deadly crashes involving its new 737 Max model. Some alleged that Boeing had inadequately prepared pilots for new control features on board, and that the company unfairly blamed them immediately after the tragedies. In fact, the main cause of the catastrophic failures were faults in the aircrafts' updated systems. At the time, the company also stalled on early calls to ground the new fleet.
There have been concerns over passenger safety against Covid-19 when flying. An early study at Harvard University argued that sophisticated air filtration systems onboard would remove almost all bacteria and viruses. But authorities in both Vietnam and Ireland have recorded instances in which a cluster of infections can be traced back to a flight. So far, such cases appear to be isolated events. But these worries will feed into wider consumer worries about the safety of the sector.
Today, people are even calling into question the very future of the aviation sector, a conversation that would have seemed absurd before the pandemic. Despite the downturn, we still owe a great deal to aviation as it strives to minimise delays in the delivery of vaccines, medical equipment and other critical goods. But in a sector particularly vulnerable to scrutiny, it must maintain transparency and openness as it weathers this latest storm.
The most expensive investment mistake you will ever make
When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.
“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.
This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).
8 UAE companies helping families reduce their carbon footprint
Greenheart Organic Farms
This Dubai company was one of the country’s first organic farms, set up in 2012, and it now delivers a wide array of fruits and vegetables grown regionally or in the UAE, as well as other grocery items, to both Dubai and Abu Dhabi doorsteps.
Founded in Australia, Modibodi is now in the UAE with waste-free, reusable underwear that eliminates the litter created by a woman’s monthly cycle, which adds up to approximately 136kgs of sanitary waste over a lifetime.
From brushes made of plant fibres to eco-friendly storage solutions, this company has planet-friendly alternatives to almost everything we need, including tin foil and toothbrushes.
One Dubai boutique, Re:told, is taking second-hand garments and selling them on at a fraction of the price, helping to cut back on the hundreds of thousands of tonnes of clothes thrown into landfills each year.
Offering filtered, still and sparkling water on tap, Bubble Bro is attempting to ensure we don’t produce plastic or glass waste. Founded in 2017 by Adel Abu-Aysha, the company is on track to exceeding its target of saving one million bottles by the end of the year.
This company offers refillable, eco-friendly home cleaning and hygiene products that are all biodegradable, free of chemicals and certifiably not tested on animals.
This bricks-and-mortar shop and e-store, founded by a Dubai mum-of-four, is the place to go for all manner of family products – from reusable cloth diapers to organic skincare and sustainable toys.
Online grocer Ocado revealed retail sales fell 5.7 per cen in its first quarter as customers switched back to pre-pandemic shopping patterns.
It was a tough comparison from a year earlier, when the UK was in lockdown, but on a two-year basis its retail division, a joint venture with Marks&Spencer, rose 31.7 per cent over the quarter.
The group added that a 15 per cent drop in customer basket size offset an 11.6. per cent rise in the number of customer transactions.
UAE currency: the story behind the money in your pockets
