The International Air Transport Association (IATA) announced that airline operators are losing $418 million daily and has called on governments to provide additional aid.<\/p>\n\n\n\n
IATA expects the airline industry to record losses of up to $77 billion in the second half of 2020, as coronavirus pandemic restrictions continue to impact global travel.<\/p>\n\n\n\n
Since the onset of the pandemic, governments have provided airlines with $160 billion through cash injections, guaranteed loans, wage subsidies, and tax reliefs.<\/p>\n\n\n\n
Normally, airline operators build cash reserves during the peak travel season in the middle of the year. However, this year companies have recorded losses, explained IATA Director General Alexandre de Juniac.<\/p>\n\n\n\n
IATA warns that without additional government support, the aviation industry risks losing 4.8 million jobs. From a financial perspective, 2020 will be the worst year in aviation history, Alexandre de Juniac recently stated. In comparison, airlines worldwide lost $31 billion following the global financial crisis of 2008 and 2009. There is no point of comparison for the scale of this crisis, the IATA representative declared.<\/p>\n\n\n
IATA estimates that airline operators are losing approximately $418 million every day due to travel restrictions.<\/p>How many jobs are at risk in the aviation industry?<\/strong> Without additional government aid, the aviation industry risks losing approximately 4.8 million jobs.<\/p>How does the current crisis compare to the 2008-2009 financial crisis?<\/strong> The current crisis is significantly more severe; in 2008-2009, losses totaled $31 billion, whereas H2 2020 alone is estimated at $77 billion.<\/p>","protected":false},"excerpt":{"rendered":" The International Air Transport Association (IATA) announced that airline operators are losing $418 million daily and has called on governments to provide additional aid. IATA expects the airline industry to record losses of up to $77 billion in the second half of 2020, as coronavirus pandemic restrictions continue to impact global travel. Since the onset…<\/p>\n","protected":false},"author":0,"featured_media":69682,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2856],"tags":[196,294],"thb-sponsors":[],"class_list":["post-118189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conectivity","tag-iata","tag-pierdere"],"article_style_override":"on","post-style":"style2","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2019\/11\/transport-2.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/118189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=118189"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/118189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/69682"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=118189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=118189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=118189"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=118189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}