Global economic and lobal recession Essay Example | Topics and Well Written Essays - 1750 words

Global sparing and lobal recession - Essay ExampleSince the 2008 world-wide economic crisis the airline industry was severely affected by reduced business revenues as the commercialise adjusted to difficult economic times. Commercial and private travel costs had to be reduced in order to keep in touch with the economic realities that global performance had dipped into. Many cogitate industries such as the motor vehicle industry were also severely hit to liquidation, which illustrates the magnitude of the menace that the industry faced. As a result of the reduced fortunes and opportunities in the industry and many national economies in general, judicatures had to chip in their protectionist policies against adverse impacts on the economy. As a result, there was an increase in government debt particularly in European economies that have had adverse impact on the integrity of the industry as an aftermath of the recession. The banking empyrean which impacts directly on the perform ance of most industries was also hit during the recent economic crisis and until full stabilization occurs, operation certainty remains elusive in the airline industry. According to Niththyananthan (1), the domestic help market in the whole of Europe is particularly affected by the proceeding in the banking sector to such an extent that business operations are conducted with extra caution. This explains the huge national bailout pleas that certain economies in Europe have been forwarding to the IMF and the European Union, since their economies were severely affected.