Published on : 22/11/2020 – 16:51
The International Air Transport Association (Iata) is holding its 76th General Assembly from Monday via videoconference. The opportunity for this organization to take stock of the health of the sector which is going badly. Most governments mobilized billions of dollars last spring to help airlines. But that might not be enough right now.
Traffic restrictions put in place to prevent the spread of the coronavirus nailed down nearly all of the airline fleets in the spring.
Over the whole of 2020, air traffic fell by 66%. And the losses have gone up to $ 100 billion. Large national companies have since relied on state aid. But other airlines have gone out of business. Among them, in particular, the South African South African Airways and Comair, the British Flybe or the Austrian and French branches of Level.
This tumble cost the sector tens of thousands of jobs, despite government support which reached $ 160 billion.
But these funds could prove insufficient, estimates the director general of Iata, Alexandre de Juniac. Companies may need an additional $ 70 billion to $ 80 billion to avoid bankruptcy filings. Almost two-thirds of them are already considering further job cuts.