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Gamble on great getaway risks landing us in trouble

Colm McCarthy


The Government may be better advised to compensate the travel industry for a lost season than risk a restart now

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TURBULENCE AHEAD: A second wave of the virus could have a detrimental effect on the aviation business

TURBULENCE AHEAD: A second wave of the virus could have a detrimental effect on the aviation business

TURBULENCE AHEAD: A second wave of the virus could have a detrimental effect on the aviation business

When a boxer survives a heavy blow and beats the count, it is the next punch that often ends the contest. That could be the outcome for many firms in Ireland and elsewhere in Europe if there is a renewed outbreak of Covid-19, and there have been worrying new surges of infection in Nordrhein-Westfalen in Germany, around Lisbon in Portugal and Leicester in England.

The health systems around Europe have been strengthened and will be better prepared for the second wave, but the rest of the economy is struggling to beat the count after the first knockdown.

The economic threat from a second wave was highlighted on Thursday by Carsten Spohr, the chief executive of Lufthansa, the German airline which employs 138,000 people and survives courtesy of a €9bn rescue package led by the German government.