Up to $200 billion is needed to rescue the world's airlines during the coronavirus crisis, the global aviation association said Thursday, appealing especially to African and Middle Eastern countries to provide emergency assistance.
"Support measures are urgently needed," the International Air Transport Association said in a statement, adding that "on a global basis, IATA estimates that emergency aid of up to $200 billion is required". Airlines worldwide face an unprecedented existential threat as the COVID-19 pandemic, which has killed more than 9,000 people around the world, shuts down global travel.
"Stopping the spread of COVID-19 is the top priority of governments," IATA chief Alexandre de Juniac said in the statement. "But they must be aware that the public health emergency has now become a catastrophe for economies and for aviation," he said, pointing out that "the scale of the current industry crisis is much worse and far more widespread than 9/11, SARS or the 2008 global financial crisis."
"Airlines are fighting for survival," he said, warning that "millions of jobs are at stake." IATA expressed particular concern for the situation in Africa and the Middle East, where many routes have been suspended, and where demand has fallen by as much of 60 percent on the remaining routes.
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