As airlines continue their battle for survival, there’s another challenge developing alongside: the acceleration of digital payments.
The transformation of many airlines and travel companies’ digital infrastructure was already underway before disaster struck down the world in March. But is right now the right time to be thinking of accelerating anything, except for getting the world’s businesses open again?
Yes, it is.
Nearly a decade ago, the Harvard Business Review wrote about companies’ ability to manage uncertainty and adaptability amidst change, and how it was the “new competitive advantage.” In the current climate, it may feel like the only option is to preserve cash and cut more costs wherever possible. However, the HBR quote holds as true today, if not more. Airlines are navigating their way through this crisis and re-evaluating how they do business – because they must in order to survive, short and long term.
The airline sector has proven it is adept at changing; 9-11 forced carriers to introduce new safety measures that would give passengers the confidence to fly again. Change is impacting the airline industry once again. Temperature checks, antibody testing, and enhanced sanitizing are all vital steps to ensure passengers feel safe - and are safe to travel.