The tremours of the pandemic’s impact are starting to resonate. Many sectors are being hit, with the airline industry being the biggest victim.
More than two thirds of the world’s commercial airplanes are grounded with more than 100,000 expected job cuts from major airlines such as Cathay Pacific, Lufthansa, Virgin Atlantic. Many others are under the threat of going out of business as global travel drops by 63%. Dubai, the Middle East's main commercial aviation hub, is suffering terribly.
This will have an unprecedented ripple effect throughout the industry.
Will the industry ever recover after the pandemic? Will the same number of flights be running as before? Many questions are being asked as the business landscape is shifting.
The pandemic is changing the way businesses operate, even though teleworking and video-conferencing have been available before COVID. Today, due to the virus, businesses have no choice but to make the long-awaiting shift to teleconferencing. Companies are realizing how much money they are saving by cutting out unnecessary traveling to meetings that can be done remotely and just as efficiently as face-to-face. This will change the business travel landscape.
Hopping on a plane and going away for a weekend may also change. Those airlines that won’t go out of business may not afford to offer cheap tickets anymore. Prices for tickets might increase resulting in drastic decrease in demand.
Now, the most important question is “how will the aircrew who have been made redundant manage?” Some of their job vacancies will become obsolete and this will require aircrew to rethink their future.
Passive income is now becoming crucial. What is passive income? This is additional income that you are earning aside from your paycheck. For example, interest on your savings or rental from your second apartment.
Such additional income will prove crucial in these trying times.
Our airline pilots and yacht crew have been placing their savings over the last five years with the 12-month Firewood Fixed Income Plan. This earns them an 11% income per year paid every quarter to their bank accounts. Some of the airline pilots who lost their positions are putting more of their savings into their 12-months Firewood Plan in order to ensure they earn a regular income without using up all their savings.
How does the 12-month plan work:
The plan is provided by GG Capital, a company based in Europe, which uses the funds to meet customers growing demand. It supplies wood products to 10 countries including Finland, Norway, Sweden, Denmark and the Baltics.
The firewood operation is very simple.
Customers such as Shell and Coop place their orders for firewood in advance
GG Capital uses the funds raised from the 12-month plan to purchase the requested volumes from suppliers with sustainable forestry practices
They deliver to customers within 5 days
The whole chain of events is fully insured from end to end
If before, you were hesitant to place your savings into fixed income products, today is the right time. This regular fixed income will provide you with the necessary peace of mind that you need. Nothing is more stressful than worrying about money.
To receive the 12-months factsheet contact us at firstname.lastname@example.org
At Crewinvest, we’ve been providing savings and retirement solutions to our clients for over 25 years.