IATA reiterated its call for government relief measures to sustain airlines financially and avoid massive employment terminations. IATA also called for pre-flight COVID-19 testing to open borders and enable travel without quarantine.
Total industry revenues in 2021 are expected to be down 46% compared to the 2019 figure of $838 billion. The previous analysis was for 2021 revenues to be down around 29% compared to 2019. This was based on expectations for a demand recovery commencing in the fourth quarter of 2020. Recovery has been delayed however, owing to new COVID-19 outbreaks, and government-mandated travel restrictions including border closings and quarantine measures. IATA expects full-year 2020 traffic to be down 66% compared to 2019, with December demand down 68%.
“The fourth quarter of 2020 will be extremely difficult and there is little indication the first half of 2021 will be significantly better, so long as borders remain closed and/or arrival quarantines remain in place. Without additional government financial relief, the median airline has just 8.5 months of cash remaining at current burn rates. And we can’t cut costs fast enough to catch up with shrunken revenues,” said Alexandre de Juniac, IATA’s Director General and CEO.
This story is from the November 2020 edition of Aviation Update.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 2020 edition of Aviation Update.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Future Cultural Challenges for Airlines And Airports
Introduction Assuming we are all alike is one of the greatest mistakes we human beings are making all the time. Another mistake we constantly make is to assume that our way of doing things is the only right way. So when people do things differently e.g. how people queue up or what we ascribe status to we try to educate them to do or see it our way. This is usually not well received and a conflict starts.
Boosting the growth of MRO Industry
Dr. Praveen Srivastava, Founder & CEO - AeroChamp, in conversation with our Special Editor Rohith Reddy on the reforms needed in the industry
MoD issues RFP for construction of six P-75(I) submarines for Indian Navy
As a major initiative towards ‘Make in India’, Ministry of Defence (MoD) has issued Request of Proposal (RFP) for the first acquisition programme under the Strategic Partnership Model for construction of six AIP fitted Conventional Submarines named Project 75(India) [P-75(I)] for the Indian Navy, on July 20, 2021.
Lockheed Martin Opens Advanced Manufacturing Facility to Expand Orion Spacecraft Production
Lockheed Martin opened its Spacecraft Test, Assembly and Resource (STAR) Center. The STAR Center features business and digital transformation innovations that will expand manufacturing, assembly and testing capacity for NASA's Orion spacecraft program and ultimately, future space exploration.
Rafale Aircraft Formally Inducted into 101 Squadron of the IAF
The Indian Air Force formally inducted Rafale aircraft into No. 101 Squadron at Air Force Station Hasimara in Eastern Air Command (EAC) on 28 Jul 21.
Forward towards growth
Yogesh Garg, Director, Sales - Asia Pacific - De Havilland in an exclusive interview with our Editor Mr. Kartikeya
RoyalJet adds European based BBJ to world's largest fleet
RoyalJet, the Abu Dhabi-owned and operated award-winning premium private aviation leader, has added a privately owned Boeing Business Jet (BBJ) to its growing fleet of managed aircraft.
Tata Boeing Aerospace Delivers 100th Fuselage for the AH-64 Apache Combat Helicopter
Tata Boeing Aerospace Limited (TBAL) announced the delivery of the 100th fuselage for the AH-64 Apache combat helicopter to Boeing from its state-of-the-art manufacturing facility in Hyderabad.
Textron gets order for up to 150 Cessna Grand Caravan EX aircraft
Textron Aviation announced Surf Air Mobility has signed a purchase agreement for up to 150 Cessna Grand Caravan EX single-engine turboprop aircraft, with an initial fleet order of 100 aircraft and an option for 50 more.
Virgin Galactic completes first fully crewed spaceflight
Virgin Galactic’s VSS Unity successfully reached space on July 11, completing the company’s fourth rocket-powered spaceflight. The flight was the 22nd test flight of VSS Unity and the first test flight with a full crew, including Indian American SirishaBandla in the cabin, including the Company’s founder, Sir Richard Branson.
