AIRLINE COMPANIES ON BRINK OF BANKRUPTCY


14/03/2020




Serhat TUNAR -TDO- Airlines are having a hard time dealing with the Coronavirus outbreak, with countries limiting flights and a large drop in passenger numbers.

Alexandre de Juniac, President of the International Air Transport Association (IATA), said that if the covid-19 outbreak continues for another 2 or 3 months, some airline companies could go bankrupt and there could be new consolidations in the aviation sector as well.

De Juniac said the revenue loss that airlines would experience due to the coronavirus would probably be above the $ 113 billion estimated before the Trump administration limited travel to European countries.

De Juniac added that he had asked all governments that imposed restrictions, and especially the U.S. government, to permanently review this decision to ease or remove it.

IATA had asked governments to consider extending credit limits, cutting infrastructure costs and lowering taxes for cash-strapped Airlines. Airlines serving Germany, France and Italy are the ones most at risk.


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