“Corona Virus” a deadly calamity has caused a worldwide outbreak causing countless lives. This chaos has left each agency to crumble and they must survive long enough until this conundrum settles down
Covid-19 has mainly spread through contact or by some small contact with infected air or environment.
Due to this reason, WHO has limited Air Travel to minimum and asked residents to stay where they are or go back home as soon as possible. The travel agencies have yet to suffer the losses.
Travel Agency/Agents in debt?
Travel Agents and agencies have currently been caught in this calamity. It seems the agents have suffered losses and got a few benefits in this hasty situation. Many Agencies stock market value plummeted and they went in debt. While some agencies and their agents took control of the situation and moved their resources around to make sure they didn’t suffer too big loss
“Impact of Corona”
Agents did suffer much losses as travelling was restricted and any International or National flight reservation and bookings were cancelled and returned. This abruptly means that all those Travel Agents had their commissions taken away from them as all those tickets, hotel rooms, event venues and pre-booked flights had to be refunded. This became a huge loss and thus Travel Agents have been severely impacted.
As flights, room bookings were canceled, places went under quarantine and lock-downs these Agencies suffered losses even ahead of time. As many pre planned flights leading from 2 to 6 months ahead had to be shutdown for the time being.
Several travel agencies in Malta say their businesses are already being impacted by the fear surrounding the coronavirus.
Some have received calls from those who travelling in the coming days, asking about the company’s cancellation policy.
Their aspect ratio had given a 15% drop down rate only due to effects in ASIA but due to the Infection spreading to Europe and other countries the agencies have fallen into chaos of cancellations and unending phone calls from clients.