According to IATA’s figures, “the livelihoods of some 65.5 million people are dependent on the aviation industry, including sectors such as travel and tourism”. Among these are 2.7 million airlines jobs.
IATA said according to its calculations, 25 million jobs in aviation and related sectors are “endangered across the world” if severe travel restrictions and lower travel traffic persist for another three months.
The global aviation association posted the following figures for each region:
- 11.2 million jobs in Asia-Pacific
- 5.6 million jobs in Europe
- 2.9 million jobs in Latin America
- 2.0 million jobs in North America
- 2.0 million jobs in Africa
- 0.9 million jobs in the Middle East
IATA added that in the same scenario, airlines are expected to see full year passenger revenues fall by $252 billion in 2020 compared to 2019. This is a 44 per cent drop compared to 2019.
The second quarter is “the most critical ” with demand projected to fall 70 per cent at its worst point, and airlines will burn through $61 billion in cash, IATA projects.
IATA is urging governments around the world to “provide immediate financial aid to help airlines to remain viable businesses able to lead the recovery when the pandemic is contained”.
The association is asking governments to provide direct financial support, loans, loan guarantees, support for the corporate bond market, and tax relief.
A number of governments worldwide have have provided support to the airline industry in the wake of the coronavirus crisis as airlines around the world continue to cut capacity in an effort to reduce costs in response to the surge in coronavirus cases worldwide, which has led to a drop in demand for air travel.
This includes Australia which announced an A$715 million (US$430 million) aid package; Singapore which has undertaken relief measures valued at S$112 million (US$82 million); Hong Kong, whose airport authority, with government support, is providing a total relief package valued at HK$1.6 billion (US$206 million); and others.
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