The International Air Transport Association calls on governments to consider extending lines of credit, reducing infrastructure costs and cutting taxes
‘Without a lifeline from governments we will have a sectoral financial crisis piled on top of the public health emergency,’ Iata head warnsGeneva — Airlines on Thursday appealed for urgent government financial support as transatlantic carriers rushed to cut flights in the wake of new US travel restrictions on Europeans aimed at combating the coronavirus outbreak.
US airports told the White House they expected to lose at least $3.7bn in 2020 — an estimate made before the latest European restrictions. Global airline losses were estimated at $100bn, reports said.The 30-day US restrictions will badly disrupt transatlantic traffic important to the earnings of major European carriers and their US airline partners, analysts warned.
Air France-KLM closed down 12.7%, British Airways parent IAG down 16% and Lufthansa 14% lower. Troubled Norwegian Air fell 33% and US-dependent Icelandair fell 23% American Airlines could be relatively spared by its alliance with British Airways and higher share of UK traffic, while Air France-KLM partner Delta and Lufthansa ally United Airlines are likely to suffer more, analysts say.
• UK authorities abandoned efforts to contain the spread of coronavirus and will focus on delaying the worst of the outbreak, as officials said as many as 10,000 Britons may be infected. Prime Minister Boris Johnson warned “many more” families will lose loved ones and advised those with symptoms of the virus to stay at home for seven days. Schools will not yet be ordered to close. Johnson said the true scale of the outbreak may be “much higher” than the 590 confirmed cases in the UK so far.
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