THE International Air Transportation Association (IATA), the main global body of the aviation industry, called on governments around the world to take “extraordinary actions” and “save the aviation industry from financial danger” against the COVID-19 situation.
According to IATA Director General Alexandre de Juniac said in a press conference that the government could not take an approach to wait and see. We have seen how dramatically this situation has worsened globally in a very short time. They must act now and be firm.
“On March 5, IATA estimated that industrial revenue could be hit up to US$113 billion in the worst case scenario, without considering massive restrictions on travel in the last few days,” De Juniac warned.
He proposed three financial facilities, namely direct financial support, loans or loan guarantees, and tax relief for governments around the world to help airlines fight the liquidity crisis.
“At normal times, airlines carry about 35% of global trade. And every job in air transportation supports the other 24 in the travel and tourism value chain of nearly 70 million jobs,” De Juniac said.
“Prioritizing air transportation and helping airlines survive financially through these dark times – will position the world for its eventual recovery,” he said. [antaranews/photo special]