Airlines need further £60bn+ in aid to survive Covid – Iata
James ChappleThe world’s airlines will need in excess of another £60 billion in aid to survive the Covid crisis, Iata general secretary Alexandre de Juniac has warned.
Speaking at the Paris Air Forum on Friday (20 November), de Juniac thanked governments around the world for provision, to date, of around £120 billion in support, Reuters reports.
However, he said also stressed that in the coming months, the industry’s additional funding needs would amount to around another £60 billion in aid "otherwise some airlines will not survive".
De Juniac also offered an update on the financial outlook for the sector, admitting losses for the year could run to £75 billion, up from a previous Iata estimate of £65.5 billion.
“It’s quite probable we will be looking at bigger losses than the figures we announced,” de Juniac said, according to Reuters.
He added Iata expected air traffic to end the year at around a third of 2019 levels, and forecast it reaching 50-60% by the end of 2021.
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