The International Air Transport Association (IATA) expected that the repercussions of the outbreak of the Coronavirus, "COVID 19", will lead to the depletion of the aviation sector in the Arab region, calling on the governments of the region to provide the appropriate financial packages to help the aviation sector to overcome the financial challenges resulting from the cessation of aviation operations.
The union revealed that the expected losses on revenue in the region may reach $24 billion compared to last year, up from five billion previous expectations since the beginning of April, at a time when 1.2 million jobs in the sector and its related sectors were endangered in the Middle East, compared to 0.9 million in previous forecasts.
According to IATA, the movement of air travelers recorded a decrease of 51 percent during the year 2020 compared to last year, where previous expectations showed that the rate of the decline was 39 percent, with the economies supported by the aviation sector in the region falling more than 66 billion dollars out of a total of 130 billion dollars makeup, while previous expectations indicate a decline of 51 billion dollars.
According to IATA, the aviation sector needs, besides financial aid, to develop plans and cooperation within the sector to ensure that it is ready after the containment of the Coronavirus, as the union is currently working on an integrated approach to re-launch the air transport sector as soon as governments and health-care destinations lift travel restrictions.
Source (Al-Sharq Al-Awsat newspaper, Edited)
