COVID-19 has impacted various sectors in dramatic ways and yet benefitting totally different sectors altogether. This post tries to bring some logics together to crystallize some of these thoughts. Business and long distance travel – this will be impacted for a long time. Some say air traffic will not return to 2019 level even in 2024. As such, airlines are in a lot of trouble. Related to that, inflight meals (SATS), aircraft servicing (ST Engineering and SIA Engineering), hotels, tourism goods, luxury products, demand for gasoline, aerospace, in short, the better half of Singapore’s listed companies and even business travel solutions – SAP is down 20% in one day! Social distancing – this has impacted restaurants, cinemas, live events, live sports, small businesses like massage parlors, pubs and related to that on-premise beer demand, drinks and the likes. Auto sales as well bcos you cannot buy a car without

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