The Limited Times

Now you can see non-English news...

Iata urges states to help cash-strapped airlines

2020-03-17T14:01:22.629Z



The International Air Transport Association (Iata) was again alarmed on Tuesday by the situation of many airlines on the verge of bankruptcy and appealed for help from governments.

Read also: Coronavirus: The Mayor announces aid of 45 billion euros for companies and employees

" If we are to maintain a strong aviation sector capable of dealing with this difficult crisis, and provide the resources to ensure a timely recovery, governments must act quickly and vigorously ," said the CEO. de Iata, Alexandre de Juniac, during a conference call with the press. The former boss of Air France estimated between $ 150 and $ 200 billion in overall aid required.

Iata chief economist Brian Pearce says many airlines affected by the suspension of global flights are now short of cash, and three-quarters of the airlines have less than three months of cash available to finance their non-avoidable fixed costs.

Read also: Coronavirus: aeronautics expects unprecedented shock

The drop in air traffic is much higher than the estimate of -16% previously put forward by Iata, said Brian Pearce again. Alexandre de Juniac added that the markets affected by the coronavirus epidemic represented 94% of the airlines' overall passenger traffic revenues.

Source: lefigaro

All news articles on 2020-03-17

You may like

Life/Entertain 2024-03-05T18:38:09.441Z

Trends 24h

News/Politics 2024-03-27T16:45:54.081Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.