Airlines warn of more bankruptcies as wage support ends | Malay Mail

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PARIS, Oct 6 — Global airlines warned today that the coronavirus-stricken industry was on course to burn through another US$77 billion (RM320 billion) in cash in the second half of 2020, calling on governments to renew expiring wage support programmes. “The issue now is that aid, particularly...

Passenger planes parked on a runway are seen during a general quarantine amid the spread of the coronavirus disease at the Arturo Merino Benitez International Airport, in Santiago, Chile May 26, 2020. — Reuters pi

“The issue now is that aid, particularly the wage subsidies, is starting to be withdrawn,” Brian Pearce, chief economist at the International Air Transport Association , told reporters. The call for increased support came as US airlines begin furloughs of more than 32,000 workers amid fading hopes for a new federal bailout package. Wage support programmes are also tapering off in Europe and elsewhere.

 

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