The new Coronavirus, COVID 19, has been wreaking havoc on the international aviation industry for almost 3 months now. A sharp decline in travel demand, strict travel restrictions and general fear among the masses have halted global travel & resulted in huge losses for airlines. The second quarter alone has shown around a 70% drop in demand in the international aviation industry resulting in the loss of 61 billion USD. [1] International Air Transport Association (IATA) has estimated that roughly 25 million jobs in aviation are at risk with 11.2 million & 5.6 million jobs at risk in the Asian-Pacific & European regions alone respectively.[1] Many airports have been shut down by travel restrictions and some have little to no revenue left, which was mainly generated from duty-free, car parking and concessions.
Although safety precautions are being considered by most airlines; disinfecting the aircraft, assigning particular seats on the aircraft and leaving the middle seats vacant to respect social distancing guidelines, most airlines are expected to hold the fort for only a few months before they start seeking government financial aid to continue operations. Some airlines have been already been contacted by governments to assist in bring citizens back home while some passenger flights are transporting essential supplies, medical & protective equipment and food instead of people. The UK government launched a $75 million airlift project at the end of March to repatriate thousands of Britons via airlines including British Airways, Titan, EasyJet, Jet2 and Virgin to accommodate stranded citizens to travel back to the UK through charter flights and arranging seats on commercial airlines.[2]
It is being predicted that national governments will have to lend a hand to keep airline companies afloat with Dr Frankie O’Connell, University of Surrey reader in air transport management, considering the three possibilities of government intervention:
1. Taking equity in the airline,
2. Deferring taxes, fees and any loans to carriers to a much later period, or
3. Nationalisation.[2]
With the impending summer season, a time when airlines earn most of their yearly income, coronavirus can cause irreparable damage to the future of airline companies especially due to the predicted oncoming 2020-2021 recession. [3]
Among all this tension, some countries have completely shut down passenger air travel while other resume activities with restrictions. A recently publicised list showing travel restrictions in individual countries can be found below:

Banned Air Travel
Algeria
Angola
Belize
Bolivia
Cameroon
Chile
Comoros
Colombia
Costa Rica
C’ote d’Ivoire
Cuba
Cyprus
Democratic Republic of the Congo
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Fiji
Ghana
Georgia
Guinea-Bissau
Guyana
India
Iraq
Jordan
Kenya
Kiribati
Kuwait
Kyrgyzstan
Latvia
Lebanon
Liberia
Luxembourg
Madagascar
Mauritania
Mongolia
Morocco
Nepal
Nigeria
North Macedonia
Oman
Pakistan
Paraguay
Panama
Peru
Poland
Rwanda
Samoa
Saudi Arabia
Seychelles
Solomon Islands
Serbia
Senegal
Slovakia
Slovenia
South Africa
Sri Lanka
Sudan
St Lucia
Tajikistan
Thailand
Tonga
Trinidad and Tobago
Tunisia
Turkey
Turkmenistan
UAE
Uganda
Ukraine
Uzbekistan
Vanuatu

Restricted Air Travel

The United Kingdom
United States of America
China
Germany
Italy
Spain
Albania
Andorra
Monaco
the Netherlands
Austria
Azerbaijan
Belarus
Belgium
Bosnia-Herzegovina
Bulgaria
Croatia
Czech Republic
Denmark
Finland
France
Greece
Hungary
Iceland
Ireland
Liechtenstein
Malta
Moldova
Portugal
Romania
Russia
Sweden
Switzerland

[4] [5]

[1]: https://www.aerospace-technology.com/news/iata-aviation-coronavirus-jobs/
[2]: https://www.airport-technology.com/features/covid-19-and-the-aviation-industry/
[3]: https://centreforaviation.com/analysis/reports/covid-19-no-more-normal-for-aviation-519513
[4]: https://www.thenational.ae/lifestyle/travel/the-full-list-of-countries-where-commercial-passenger-flights-are-grounded-due-to-the-coronavirus-1.996215
[5]: https://www.theguardian.com/travel/2020/mar/24/coronavirus-travel-updates-which-countries-have-restrictions-and-fco-warnings-in-place