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.
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" 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.
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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.