Paris-Sana
The International Air Transport Association (IATA) has warned that airlines need an additional $ 70-80 billion in support to weather the coronavirus crisis.
Reuters quoted Etihad Director-General Alexandre de Juniac as saying during the Paris Aviation Forum hosted by La Tribune newspaper: “We are very grateful for the injection of 160 billion dollars into the sector. Some airlines will not be able to survive the crisis. ”
Airlines say that while progress on finding a vaccine for the Coronavirus provides hope, a return to heavy travel is still several months away and some companies will struggle during winter in the Northern Hemisphere as profits drop even in normal times.
Meanwhile, the renewed rise in Coronavirus infections and travel restrictions around the world have weakened the financial outlook for the sector, as IATA is expected to record $ 87 billion in losses this year.
IATA expects a slow and agonizing recovery with only a return to pre-crisis travel levels in 2024 and passenger numbers to remain 30 percent down next year.
De Juniac warned that these expectations may be optimistic and said, "According to our estimates, air travel will reach 33 percent of its level in 2019 by the end of 2020, and then we hope that it will reach 50 to 60 percent by the end of 2021."