The International Air Transport Association (IATA) estimates that airlines need an additional $70-80 billion to survive the coronavirus crisis. This is half the amount the industry has already received in government aid.
”"We are extremely grateful that they have pumped $160 billion into the sector. In the coming months, $70-80 billion in additional support is needed, otherwise some airlines will not survive," IATA chief Alexandre de Juniac said during the Paris Air Forum, Reuters reports.
IATA has previously forecast a slow recovery for the industry from Covid-19. It is not until 2024 that capacity is seen to be at the same level as in 2019.
More in the near term, capacity is expected to reach 33 percent by the end of 2020 and 50-60 percent by the end of next year, de Juniac said.
