Global airlines are losing $ 418 million a day

The International Air Transport Association (IATA) confirmed that Airlines In the world, it is losing about 418 million dollars daily, calling on governments to provide more support to the global aviation industry.

The Union expects the losses of the aviation industry in the world to reach 77 billion dollars during the second half of this year 2020 on a continuous basis Weak global travelDue to the restrictions imposed to limit the spread of the new Corona virus.

Since the outbreak of the Corona pandemic, governments have provided airlines with nearly $ 160 billion in aid, whether in the form of cash, loan guarantees, support for workers’ wages, or tax exemptions.

Alexander Juniac, CEO of the International Air Transport Association, said at a press conference in Geneva, Switzerland, according to a statement by the union late Tuesday evening that airlines usually accumulate cash in their mid-year high season, but this year it continued. Corporate losses during that period.

Juniac warned that in the absence of any timetable to reopen skies and travel in the world, it is not possible to rely on the end-of-year holiday season for companies to achieve additional cash revenues that they can rely on until next spring.

The International Federation also warned that without additional government support for airlines, about 4.8 million jobs in the sector would be at risk.

The federation renewed its call for passengers to take a rapid test to detect the Corona virus, before they board aircraft, to ensure safe travel and to eliminate the need to quarantine them, which prevents many people from traveling.

The airline was in The country of South AfricaAt the end of last September, it was forced to suspend all its flights, according to what many local media reported, citing company officials who said that the aircraft will remain in the maintenance phase until funding for the restructuring plan is obtained.

The Corona pandemic inaugurated an open list of bankrupt and also bankruptcy companies, as the first company joined the list, last May, after it submitted “Avianca” Holding; The second largest airline in Latin America, filed for bankruptcy, with the approaching deadline for repaying outstanding bonds, and after it sought unsuccessfully to obtain urgent help from the Colombian government in order to survive the effects of the Corona virus crisis.

Avianca estimated the value of its financial obligations between one billion and ten billion dollars, in its application, which it filed at the time, with the US Bankruptcy Court for the Southern District in New York.

Avianca is one of the oldest airlines in the world, and a source of pride for Colombians. The company went bankrupt before in the early 2000s and was rescued by German Efromovich, a Bolivian-born businessman and oil entrepreneur.

In mid-April, the International Air Transport Association (IATA) expected that the revenues of passenger airlines in 2020 would decline by 55%, equivalent to $ 314 billion, due to the Corona pandemic.

And in the United States of America, the largest economy in the world, Airlines are facing extreme difficultiesIn mid-April, the Treasury announced that it had reached a preliminary agreement with the airlines on a rescue plan to avoid bankruptcy or lay off employees in a sector that directly employs more than 750,000 people.