As the impact of COVID-19 pandemic on the hospitality industry, particularly its aviation sub-sector, continues with disruptive consequences for operators’ schedule travels, the International Air Transport Association (IATA) on Friday projected that airlines need up to additional $80 billion to survive
Director General of IATA, Alexandre de Juniac, told La Tribune, a French newspaper, that with several countries tightening travel restrictions to confront another wave of coronavirus infections, the future of most airlines has become increasingly uncertain.
“For the coming months, the industry is estimated to need $70-$80 billion in additional aid. Otherwise, they won’t survive”, de Juniac said.
It would be recalled that over the past few months, most airlines in Europe, America, Asia and Africa had been finding it very difficult to sustain their operations following the prolonged lockdown of most countries.
For instance, the Nigerian airlines appeared to be particularly worse off as inclement fiscal policy measures took huge toll on the airlines funds compelling many of the airlines to ground their operations.
Despite the funding bailout by the federal government, most of the airlines are yet to fully recover from the devastating impact of the COVID-19 pandemic as passenger traffic continues to decline along international and domestic routes.
