US airlines ask for US$50b in govt aid
US airlines are seeking at least US$50b in financial aid as they manage through the coronavirus crisis, which has caused a sharp drop in demand and mounting losses for an industry accustomed to years of progressive profit growth. A4A said Monday that carriers have experienced “unprecedented harm” in the past 2 weeks. Net bookings have exceeded negative 100% for the coming months. The industry body is asking the US govt for a mix of grants, loans and tax relief as carriers see their business decimated due to fears of the global pandemic’s spread as well as onerous travel restrictions imposed by several countries, including the US. In a worst-case scenario, “all 7 of A4A passenger carriers [will] run out of money completely sometime between June 30 and the end of the year,” the association says. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-03-17/general/us-airlines-ask-for-us-50b-in-govt-aid
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US airlines ask for US$50b in govt aid
US airlines are seeking at least US$50b in financial aid as they manage through the coronavirus crisis, which has caused a sharp drop in demand and mounting losses for an industry accustomed to years of progressive profit growth. A4A said Monday that carriers have experienced “unprecedented harm” in the past 2 weeks. Net bookings have exceeded negative 100% for the coming months. The industry body is asking the US govt for a mix of grants, loans and tax relief as carriers see their business decimated due to fears of the global pandemic’s spread as well as onerous travel restrictions imposed by several countries, including the US. In a worst-case scenario, “all 7 of A4A passenger carriers [will] run out of money completely sometime between June 30 and the end of the year,” the association says. <br/>
