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The current outbreak of COVID-19 is an unprecedented event in air transportation. This is probably the first time that global aviation contributed to the planet-wide spread of a pandemic, with casualties in over two hundred countries. As of August 23rd, 2020, the number of infected cases has topped 23 million, reportedly relating to more than 800,000 deaths worldwide. However, there is also a second side of the pandemic: it has led to an unmatched singularity in the global air transportation system. In what could be considered a highly uncoordinated, almost chaotic manner, countries have closed their borders, and people are reluctant/unable to travel due to country-specific lock-down measures. Accordingly, aviation is one of the industries that has been suffering most due to the consequences of the pandemic outbreak, despite probably being one of its largest initial drivers. In this study, we investigate the impact of …