IATA says airlines will post $39bn loss in Q2

The association said on Tuesday that the new analysis was based on the impact assessment it released last week, under a scenario in which severe travel restrictions last for three months.

“Fixed and semi-fixed costs amount to nearly a half an airline’s cost. We expect semi-fixed costs to be reduced by a third. Airlines are cutting what they can, while trying to preserve their workforce and businesses for the future recovery. These changes to revenues and costs result in an estimated net loss of $39bn in the second quarter,” it added.

The Director General, IATA, Alexander de Juniac, said airlines could not cut costs fast enough to stay ahead of the impact of the crisis. According to him, several governments are responding positively to the industry’s need for relief measures, adding that among countries providing specific financial or regulatory aid packages to the industry are Colombia, the United States, Singapore, Australia, China, New Zealand and Norway.

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