Airlines may take US$252b hit from pandemic, IATA says
Airlines worldwide could lose US$252b in revenue this year from the coronavirus pandemic, threatening the survival of the industry, according to IATA. The anticipated hit is more than double a decline mooted by IATA earlier this month, reflecting the steep downward spiral of many carriers as they grapple with a crisis more severe than anything the sector has ever faced, the trade group said Tuesday. While govts around the world have pledged support, a liquidity crisis is “coming at full speed,” IATA CE Alexandre de Juniac said. States need to get “massive action” in place so there’s still an industry to rescue. IATA warned earlier this month that only about 30 airlines have reasonably healthy debt and earnings. And even the stronger ones probably have only enough cash to survive for a matter of months. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-03-25/general/airlines-may-take-us-252b-hit-from-pandemic-iata-says
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Airlines may take US$252b hit from pandemic, IATA says
Airlines worldwide could lose US$252b in revenue this year from the coronavirus pandemic, threatening the survival of the industry, according to IATA. The anticipated hit is more than double a decline mooted by IATA earlier this month, reflecting the steep downward spiral of many carriers as they grapple with a crisis more severe than anything the sector has ever faced, the trade group said Tuesday. While govts around the world have pledged support, a liquidity crisis is “coming at full speed,” IATA CE Alexandre de Juniac said. States need to get “massive action” in place so there’s still an industry to rescue. IATA warned earlier this month that only about 30 airlines have reasonably healthy debt and earnings. And even the stronger ones probably have only enough cash to survive for a matter of months. <br/>
