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Air Freight
COVID-19
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Imports and Exports

Airline industry faces gravest crisis - Iata

25 Mar 2020 - by Staff reporter
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The International Air Transport Association (Iata) warned on Wednesday that the air industry could lose up to $252 billion in revenue due to the outbreak of the novel Coronavirus (Covid-19).

“The airline industry faces its gravest crisis," said Iata director general Alexandre de Juniac.

“Airlines need $200 billion in liquidity support simply to make it through. Some governments have already stepped forward, but many more need to follow suit.”

Iata’s previous estimates predicted revenue losses of $113 billion for the year, but with the increased restrictions to world travel the association has decided to more than double the expected losses. – Bjorn Vorster

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