Transport sector is the backbone of an economy. The Novel Coronavirus (Covid-19) pandemic and the 40-day national lockdown it has necessitated has had a brutal impact on the sector.
With vehicles off the roads and airplanes off the skies, sectors such as highways and aviation - and the people whose livelihoods depend on it - have taken punches to the face. The International Air Transport Association, or IATA, foresees global aviation losses because of the pandemic at over $250 billion in 2020 alone. More than a third of this is expected in the Asia-Pacific region.
In India, the aviation sector, which grew in double digits over the past decade, is the worst affected.
The highways sector is also staring at significant losses because of lockdown restrictions, suspension of tolling, and project delays due to unavailability of labour.
The effects are expected to be prolonged because today’s losses translate to impaired investment ability tomorrow.
With consumer demand at a low, infrastructure was expected to spur growth. But with the pandemic immobilising transport, chances of economic revival look bleak.
Against this backdrop, CRISIL invites you to a web conference titled 'A grinding halt and the grind ahead’, where its experts will share views and outlook for the aviation and highways sector:
During the conference, our experts will walk you through:
Key challenges before the sector and their path, going forward
Quantum of losses it is expected to sustain
Recommendations to de-stress the sector
There will also be a panel discussion by industry experts
