Aviation is big business. The airline sector alone has a global market valuation of USD 996 billion in 2024. The recovery of commercial aviation following the carnage brought about by the coronavirus pandemic has been nothing short of astounding. But during the height of the COVID-19 pandemic, things were tough for the airline industry, both domestically and internationally. Airlines were one of the most affected businesses worldwide. All aviation sectors suffered significant losses in 2020 and 2021 except for air cargo airlines and freight forwarders. Global airline traffic (measured by revenue passenger kilometres) declined by 66 per cent in 2020, and by 58 per cent in 2021, compared to 2019, producing an economic loss of USD 244 billion in 2020 and USD 146 billion in 2021.