KONTAN.CO.ID - LONDON. Global airlines urged governments on Tuesday to speed up bailouts to rescue the air transport industry as they doubled their estimate of 2020 revenue losses from the coronavirus crisis to more than US$ 250 billion. "We clearly need massive action very quickly and urgently," Alexandre de Juniac, director general of the International Air Transport Association (IATA), told reporters. With planes unable to fly because of travel restrictions, compounded by a plunge in demand over fears of contagion, airlines worldwide have grounded most of their fleets, and many have said they need government support to survive.
Airlines beg for rescue as coronavirus hit soars to US$ 250 billion
KONTAN.CO.ID - LONDON. Global airlines urged governments on Tuesday to speed up bailouts to rescue the air transport industry as they doubled their estimate of 2020 revenue losses from the coronavirus crisis to more than US$ 250 billion. "We clearly need massive action very quickly and urgently," Alexandre de Juniac, director general of the International Air Transport Association (IATA), told reporters. With planes unable to fly because of travel restrictions, compounded by a plunge in demand over fears of contagion, airlines worldwide have grounded most of their fleets, and many have said they need government support to survive.