Wharton Customer Analytics
Runway risk: managing climate-based aviation turbulence with innovative data
By Michael Ferrari, WCA Senior Fellow, & Sinead O’Sullivan
The COVID-19 crisis wreaked havoc on global and national supply chains, financial markets, livelihoods, and the economy. If the shock of 2020 has taught us anything, it’s that our complex and globalized world needs drastically higher levels of redundancy and resiliency embedded into our institutions, professions, and personal lives alike.
The need for resilience doesn’t stop with COVID; for as much as our interconnected world was tested- and continues to be tested- by the deadly pandemic, a much larger crisis awaits us. Climate change, according to Harvard Business School’s Rebecca Henderson through her book “Reimagining Capitalism”, requires industry leaders to embrace a new vision of business. And as we’ve seen with COVID-19, no sector is more integrated in our lives whilst simultaneously prone to collapse from complex crises, than that of aviation and airlines.