Triple Bottom Line: Evidence from Aviation Sector
DOI:
https://doi.org/10.51325/ijbeg.v3i1.32Keywords:
COVID 19; Aviation Industry; Sustainability; Triple Bottom Line (TBL).Abstract
The COVID-19 has spread with alarming speed bringing the global economy to a stand-still. As countries have imposed tight restrictions, the aviation industry is severely hit and its revenues sorely plummeted. The study aims to analyze the impact of Covid-19 on the aviation industry. Its main purpose is to alleviate the pandemic effect by applying the Triple Bottom Line (TBL) approach. TBL mainly addresses sustainability and focuses on three dimensions: people, planet, and performance. The aviation industry can sustain its revenues by adopting disruptive and innovative strategies that can counteract pollution effect (planet scale). Furthermore, it should urgently integrate artificial intelligence and machine learning in its booking system (people scale) to compensate for ongoing travel cancellations, delay, and headcounts reduction. To regain customers’ confidence, and boost its performance, the aviation industry should apply innovative plans such as electronic waivers, free cancellation, no-fee itinerary change.
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