Airlines May Take $252 Billion Hit From Pandemic, Association Says
- CEO de Juniac warns of an impending severe liquidity crunch
- Airline lobby says governments need to offer backing fast
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Airlines worldwide could lose $252 billion in revenue this year from the coronavirus pandemic, threatening the survival of the industry, according to the International Air Transport Association.
The anticipated hit is more than double a decline mooted by IATA earlier this month, reflecting the steep downward spiral of many carriers as they grapple with a crisis more severe than anything the sector has ever faced, the trade group said Tuesday.