Global airlines need up to $200b of state support: IATA

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London

Global airlines need to up to $200 billion of government support to help them survive the coronavirus crisis, the International Air Transport Association said on Tuesday.
Issuing a rallying call for the aviation industry, IATA chief Alexandre de Juniac said governments needed to act decisively to support carriers as many of the companies are running out of cash.
“If we want to maintain a strong airline sector able to cope with this difficult crisis and provide the resources to ensure the recovery will happen in due time, we need governments to act strongly and quickly,” he said.
The $150 billion to $200 billion IATA estimate includes indirect support such as loan guarantees and comes after U.S. airlines asked for a $50 billion bailout on Monday.—Reuters