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First, we sincerely hope that this issue of Travel Markets Insider finds you and your family well, wherever you are in the world.
The world continues to struggle with the worst crisis in living memory as global cases of COVID-19 today top 1.1 million with more than 63,000 deaths.
The U.S. is now the epicenter of the disease, with Johns Hopkins reporting nearly 300,000 confirmed cases as of Saturday afternoon – more than double the number in hard hit Italy and Spain. Testing in the U.S. is still in the early stages so the number is likely much higher. New York City alone has more than 100,000 and a death toll more than double that of 9/11.
Currently, there are more than 11,000 confirmed coronavirus cases in Canada and 130 deaths. In South America, Argentina is in lockdown, Brazil’s President Jair Bolsonaro is in denial as he puts the economy before saving lives, and Mercopress reports that authorities in Ecuador have collected at least 150 bodies of people who died due to the coronavirus from the streets and homes of Guayaquil, the main port city in the country.
Against this backdrop, TMI today reports on efforts being taken by our industries to survive and give back.
South American duty free association ASUTIL has joined Airports Council International – Latin America & Caribbean (ACI-LAC) to petition the governments of their region for support in face of the devastation to their industries from the coronavirus. In a statement issued on April 1, the two groups are urging governments to take immediate measures to help all affected aviation industry stakeholders in the face of the COVID-19 crisis. See page 1.
At the same time, ACI World has issued an economic analysis that predicts that COVID-19 will wipe out two-fifths of passenger traffic and nearly one-half of revenues for airports in 2020- which it calls an “existential threat.” The group is calling for swift support from governments around the world. Page 1.
ACI-North America issued its own regional assessment, which estimates the COVID-19 outbreak will cost U.S. airports at least $13.9 billion this year. Page 2.
On a positive note, U.S. President Donald Trump signed a sweeping Coronavirus Aid, Relief, and Economic Security (CARES) Act into law this week. The immense $2 trillion emergency package provides critical relief for the aviation industry in the United States, including at least $10 billion in direct aid to national airports, and as much as $88 billion in total aviation-related government assistance. To see what and who is scheduled to receive aid and the conditions attached, see page 2.
Another government heeding the call for some relief, Canada this week announced that it is waiving ground lease rents for the rest of the year at 21 of its airports, which will save the airports more than $330 million. Details on page 2.
Illustrating just how far global travel has fallen, Hawaii reports that 664 people arrived in the state on April 1, compared to 30,000+ at the same time last year. Page 2.
One travel-related industry not scheduled to receive any benefit from the U.S. CARES bailout are the cruise lines, since many are incorporated outside of the U.S. and thus do not qualify for aid. Page 4.
Meanwhile, companies throughout the industry are producing needed products, and donating money and services wherever they can.
See the latest efforts from Florida Caribbean distillers & WEBB Banks; L’Oréal; Coty; the Estée Lauder Companies & M.A.C; Tito’s Handmade Vodka and Mondelez-who alone has earmarked $15 million for donations around the world.
Coverage begins on page 3 and is not anywhere near inclusive of all the generous efforts underway.
MORE SUPPLIER NEWS
New products continue to launch.
Coty launches a new Burberry Her fragrance in homage to London. See page 5
Tommy Hilfiger adds Impact EDT to his fragrance portfolio for men, and uses an integrated global campaign that includes a community of trailblazing music artists as ambassadors. Page 5.
Estée Lauder launches a new Futurist foundation that combines coverage and skincare. Page 5.
