Aviation, travel and travel retail businesses have been hit harder by Covid-19 than many other sectors. Once the initial scramble to manage down capacity, preserve cash and keep their passengers and staff safe, they will have time to think about the longer term consequences of the crisis. The key question for all of them is how long this will last, and what medium to long term volumes will be. 

Some businesses in the broader aviation value chain may not survive. But even those saved by aggressive cash management and strong balance sheets may have to bank on a future where volumes take years to return to recent levels. Once they have managed the immediate crisis and kept their people safe, leaders will have to think through scenarios about the size and shape of the post-Covid-19 business. 

Despite the immediate urgency, any reshaping of the future organisation and operations will have to be thoughtfully planned, to ensure key skills are not lost or future growth opportunities missed. What is clear, is that the survivors will have to be  sized appropriately to business volume but agile enough to act on opportunities in the post-Covid-19 world.