[Asia Economy Reporter Yoo Hyun-seok] The aviation industry is on edge as COVID-19 is spreading again. There are concerns that international flights could shrink once more amid the triple hardships of high oil prices, high exchange rates, and high interest rates.
According to health authorities on the 18th, as of 9 a.m., the number of confirmed COVID-19 cases reached 26,299. This is 2.1 times the 12,681 cases reported on the 11th, marking a 'doubling' of new cases. It is also 4.2 times the 6,248 cases from two weeks ago on the 4th.
The doubling phenomenon has been continuing recently. From the 12th to the 18th, the daily new confirmed cases were 37,347 → 40,255 → 39,186 → 38,882 → 41,310 → 40,342 → 26,299, averaging 37,660 cases per day.
In particular, confirmed cases are increasing due to new COVID-19 variants. The BA.5 variant, which has high transmissibility and immune evasion characteristics, is spreading rapidly. Additionally, the BA.2.75 variant (known as Kentauros), which is reported to have even greater transmissibility and immune evasion properties, has also been detected domestically.
The government will require PCR testing within 3 days after arrival starting on the 25th, with the test to be taken on the first day after entry, and recommends home quarantine until results are available. Strengthening pre-entry testing is also under consideration. Currently, either a PCR test within 48 hours before entry or a rapid antigen test (RAT) within 24 hours with a negative result is accepted. However, if the outbreak worsens, only PCR tests may be allowed.
This has caused anxiety in the aviation industry as well. With fuel surcharges rising due to high oil prices, consumer burdens have increased, and the resurgence of COVID-19 raises concerns about a potential decline in air travel demand. Especially as international flights have recently expanded, providing some relief, the aviation industry finds itself in a worrying situation. As of last month, the number of international passengers exceeded one million per month, the highest since the COVID-19 outbreak. The government planned to increase international flights to 50% of the 2019 level by the end of this year.
An aviation industry official said, "We are concerned that the recent resurgence of COVID-19 could lead to stricter quarantine measures in various countries, dampening the explosive overseas travel demand following the lifting of social distancing." He added, "High oil prices, high exchange rates, and high interest rates are all burdensome for the aviation industry."
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