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Crisis-hit airlines face crippling cash squeeze: IATA

Fresh quarterly estimates suggest airlines face a $61 billion cash burn and a $39 billion net loss during the current quarter, the head of the International Air Transport Association, told a media conference call.

March 31, 2020 / 07:47 PM IST
Representative image

Representative image

Global airlines warned on Tuesday that many carriers may not survive a record cash squeeze in the second quarter, as revenues and traffic plunge because of the coronavirus crisis.

Fresh quarterly estimates suggest airlines face a $61 billion cash burn and a $39 billion net loss during the current quarter, the head of the International Air Transport Association, told a media conference call.

"These are numbers beyond anything we have ever had in our industry," IATA Director General Alexandre De Juniac added.

 
Reuters
first published: Mar 31, 2020 07:38 pm
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