The International Air Transport Association (IATA) appealed to governments in the Middle East and Africa to move faster to provide government support to their airlines, after the value of their revenue losses due to the Coronavirus pandemic exceeded $23 billion.
In this context, IATA Vice President for the Middle East and Africa, Mohamed Ali Al-Bakri, indicated that it would be extremely difficult for any airline to survive without government assistance.
The International Transport Association issued a new report on the performance of international airlines, revealing great potential for companies to lose about $ 61 billion of their financial reserves during the second quarter of this year, with a net loss of $ 39 billion.
The report is based on estimates issued by the association, which indicated that the severe restrictions on travel extended during the next three months will lead to a decrease in demand for travel on an annual basis by 38% and a decrease in revenue to about $252 billion compared to 2019, and that the decline in demand will be the worst during the second quarter of this year and equal to 71%.
Source (New Arab newspaper, Edited)
