The International Air Transport Association (IATA) Chief Alexandre de Juniac, has appealed for industry support after announcing that the world’s airlines will burn through $77 billion in cash during the second half of 2020.
He called on governments across the globe to provide additional relief measures for carriers, including financial aid that does not put airlines even deeper in debt.
CEO and Director General of the IATA, Alexandre de Juniac said, that while carriers welcome the support they’ve received so far, “the crisis is deeper and longer than any of us could have imagined and the initial support programmes are running out.”
He said: Today, we must ring the alarm bell again. If these support programmes are not replaced or extended, the consequences for an already hobbled industry will be dire.”
Some airline groups, including Lufthansa and Air France-KLM, have received billions of euro of government bailouts to ensure their survival while some carriers groups including Aer Lingus owner IAG have been shoring up their balance sheets by tapping shareholders for billions of euro worth of equity.
