Global airlines will lose $252 billion (Dh925bn) in passenger revenue this year, a 44 per cent drop from 2019, as the rapid spread of the coronavirus and ensuing travel bans hit the industry, the International Air Transport Association said. The latest assessment is more than double the organisation's March 5 estimate of a $113bn loss.
"Speed up: we need massive action very quickly, urgently," said Alexandre de Juniac, Iata's director general, said on a media call. "We have a liquidity crisis coming at full speed ... we desperately need some cash."
Worldwide air travel demand is forecast to plunge 38 per cent in 2020, if travel limitations and border closures continue for another three months, Iata said today. The industry lobby group urged governments to act faster to rescue their airlines with financial packages.
Airlines worldwide are suspending most or all of their passenger flights, grounding jets and axing jobs in efforts to preserve cash due to heightened travel bans as governments try to contain the spread of the deadly virus.
Iata is escalating pleas for state assistance to airlines as it predicts that nearly half of the operators could potentially face bankruptcy in the coming weeks. The pandemic is the greatest challenge to the aviation industry to date.
Covid-19 has infected about 396,000 people worldwide and killed more than 17,200, according to Johns Hopkins University, which is tracking global data on the outbreak. More than 103,300 people have also recovered.
In its latest report, Iata estimates Middle East airlines could lose $19bn in passenger revenue as demand drops 39 per cent in 2020, compared with last year.
Airlines support 2.7 million jobs and every $1 of airline revenue generates $3.80 in economic growth, according to Iata, with thousands of workers around the world already losing jobs or being placed on paid or unpaid leave.
Governments need to preserve the air transport industry to facilitate future economic recovery, which will depend on the movement of goods and tourists, said Brian Pearce, Iata’s chief economist.
A recovery in air travel demand will take longer than previous crises such as the 2003 SARS outbreak, as the coronavirus outbreak has spread globally and is expected to lead to a “deep” economic recession, Mr Pearce said.
A silver lining for the industry is early signs of a pick-up in China's domestic air travel market, he said.
FIXTURES
Nov 04-05: v Western Australia XI, Perth
Nov 08-11: v Cricket Australia XI, Adelaide
Nov 15-18 v Cricket Australia XI, Townsville (d/n)
Nov 23-27: 1ST TEST v AUSTRALIA, Brisbane
Dec 02-06: 2ND TEST v AUSTRALIA, Adelaide (d/n)
Dec 09-10: v Cricket Australia XI, Perth
Dec 14-18: 3RD TEST v AUSTRALIA, Perth
Dec 26-30 4TH TEST v AUSTRALIA, Melbourne
Jan 04-08: 5TH TEST v AUSTRALIA, Sydney
Note: d/n = day/night
AUSTRALIA SQUAD
Steve Smith (capt), David Warner, Cameron Bancroft, Jackson Bird, Pat Cummins, Peter Handscomb, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Shaun Marsh, Tim Paine, Chadd Sayers, Mitchell Starc.
Sting & Shaggy
44/876
(Interscope)
The%20Last%20White%20Man
%3Cp%3EAuthor%3A%20Mohsin%20Hamid%C2%A0%3C%2Fp%3E%0A%3Cp%3E192%20pages%C2%A0%3C%2Fp%3E%0A%3Cp%3EPublished%20by%3A%20Hamish%20Hamilton%20(UK)%2C%20Riverhead%20Books%20(US)%3C%2Fp%3E%0A%3Cp%3ERelease%20date%3A%20out%20now%20in%20the%20US%2C%20August%2011%20(UK)%3C%2Fp%3E%0A
Five expert hiking tips
- Always check the weather forecast before setting off
- Make sure you have plenty of water
- Set off early to avoid sudden weather changes in the afternoon
- Wear appropriate clothing and footwear
- Take your litter home with you
The Year Earth Changed
Directed by:Tom Beard
Narrated by: Sir David Attenborough
Stars: 4
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The bio
Favourite book: The Alchemist by Paulo Coelho
Favourite travel destination: Maldives and south of France
Favourite pastime: Family and friends, meditation, discovering new cuisines
Favourite Movie: Joker (2019). I didn’t like it while I was watching it but then afterwards I loved it. I loved the psychology behind it.
Favourite Author: My father for sure
Favourite Artist: Damien Hurst
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
More from Neighbourhood Watch:
The years Ramadan fell in May
Spider-Man%202
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%20Insomniac%20Games%0D%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20%20Sony%20Interactive%20Entertainment%0D%3Cbr%3E%3Cstrong%3EConsole%3A%20%3C%2Fstrong%3EPlayStation%205%0D%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A
Formula%204%20Italian%20Championship%202023%20calendar
%3Cp%3EApril%2021-23%3A%20Imola%3Cbr%3EMay%205-7%3A%20Misano%3Cbr%3EMay%2026-28%3A%20SPA-Francorchamps%3Cbr%3EJune%2023-25%3A%20Monza%3Cbr%3EJuly%2021-23%3A%20Paul%20Ricard%3Cbr%3ESept%2029-Oct%201%3A%20Mugello%3Cbr%3EOct%2013-15%3A%20Vallelunga%3C%2Fp%3E%0A