Commentary
Consolidation will follow when skies clear for aviation industry
Sign up now: Get ST's newsletters delivered to your inbox
A black swan event is an unpredictable and rare event that has a very severe and major impact. The term was popularised by Wall Street trader Nassim Nicholas Taleb, who wrote about it in a 2001 book titled Fooled By Randomness: The Hidden Role Of Chance In Life And In The Markets.
What the global aviation industry is facing is nothing if not a black swan.