COVID-19: Airline Debt Could Amount to $550 Billion Says IATA

The total global debt of the airline industry could amount to $550 billion by the end of 2020

According to the International Air Transport Association the total global debt of the airline industry could amount to $550 billion by the end of 2020.

Governments and commercial lenders have injected about $123 billion into struggling airlines since the start of the global Covid-19 pandemic.

Alexandre de Juniac, Director General and CEO of IATA said: “The next challenge will be preventing airlines from sinking under the burden of debt that the aid is creating.

“Airlines particularly in Latin America need strong government support.”

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