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25 Million Jobs At Risk If Aviation Restrictions Last 3 Months Says IATA

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In a press release on Tuesday, the International Air Transport Association (IATA) said its new analysis shows that some 25 million jobs are at risk of disappearing as air travel demand plummets due to the spread of COVID-19.

25 Million Jobs At Risk If Aviation Restrictions Last 3 Months Says IATA
 

"Globally, the livelihoods of some 65.5 million people are dependent on the aviation industry, including sectors such as travel and tourism. Among these are 2.7 million airlines jobs. In a scenario of severe travel restrictions lasting for three months, IATA research calculates that 25 million jobs in aviation and related sectors are endangered across the world," the association's statement said.

As per IATA's estimates, the highest number of jobs at risk are in the Asia-Pacific region at 11.2 million, followed by 5.6 million jobs in Europe, 2.9 million jobs in Latin America, 2 million jobs in North America and Africa each and 0.9 million in the Middle East.

It further says that airlines are expected to see full year passenger revenues fall by $252 billion or 44 percent in 2020 compared to 2019. The second quarter is estimated to be the most critical with demand falling 70 percent at its worst point, and "airlines burning through $61 billion in cash".

"Airlines are calling on governments to provide immediate financial aid to help airlines to remain viable businesses able to lead the recovery when the pandemic is contained," it added.

Read more about: aviation airlines
Story first published: Wednesday, April 8, 2020, 10:09 [IST]
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