In recent months, flight delays, lost luggage and cancellations have become increasingly common due to both bad weather and staffing shortages.
The COVID-19 pandemic had a profound impact on all kinds of businesses, including the airline industry. In some regions, 97 percent of aviation activity ceased entirely during the pandemic. According to Suzanne Courtney, strategic growth director for Europe, Middle East and Africa for Aon’s Assessment Solutions, “The [aviation] sector will need about 645,000 pilots over the next two decades. Potential pilots are making this career decision during their early school years, so early career conversations will be key to building the pipeline.” Read more in Aon’s The One Brief.
In Aon’s 2021 Global Risk Management Survey (GRMS), participants in the hospitality, travel and leisure industry rated business interruption as a number one risk. In a separate Aon study, “Reprioritizing Risk and Resilience for a Post COVID-19 Future,” 67 percent of participants expect the impact to their business to last over a year.
According to Beth Godlin, president of Aon Affinity Travel Practice, “Ideally you’ll purchase a travel insurance plan at the time you book your trip and pay your first deposit. Here’s why: you get the longest length of time for cancellation benefits at no extra cost.” Read more about travel insurance in Forbes.