Airlines need up to another $80 billion to survive, the head of the industry's trade association told a French daily on Friday, as many countries tighten restrictions to confront another wave of coronavirus infections.
"The longer the crisis lasts, the greater the risk for bankruptcies," de Juniac was quoted as saying by the daily. Travel restrictions imposed during the first wave of the crisis forced many airlines to ground almost their entire fleets. Many governments stepped in with various forms of aid such as loans, cash injections, and support for furloughed workers.
Asked about whether the crisis would encourage consolidation in the sector, de Juniac said that in order for that "the companies need the means to buy one another" but that at the moment "they are in survival mode".
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