Industry

‘Air passenger demand to plummet 47% in 2020’

Revenues likely to fall $11 bn: IATA CEO

Air passenger demand is expected to fall 47% in 2020, with revenue reducing by $11 billion compared to last year due to the COVID-19 pandemic, said Alexandre de Juniac, Director General and CEO, IATA at a webinar held by CAPA India on Friday.

He said about 3 million jobs, including those that depend on aviation, such as travel and tourism, are also at risk. “Indian carriers, like many airlines around the world, are in survival mode,” he added.

Stating that there should be viable airlines around after this crisis, he said,” It is particularly disappointing that the package of economic relief unveiled earlier this month contained nothing for airlines in the form of direct financial relief. Compare that to the $123 billion in government financial aid that has been announced around the world, including $26 billion in the Asia Pacific region.”

“The Indian government [must] help airlines with measures that [help] raise equity financing rather than increasing debt. This needs to be done urgently before it is too late,” he added.

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Printable version | Jul 3, 2020 4:48:49 AM | https://www.thehindu.com/business/Industry/air-passenger-demand-to-plummet-47-in-2020/article31705258.ece

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