Coronavirus may bankrupt most airlines by the end of May

According to estimates by the International Air Transport Association, carriers may lose up to $ 113 billion this year.

Analysts at the CAPA Sydney Aviation Advisory Center are confident that the coronavirus pandemic will bankrupt most airlines around the world by the end of May unless governments and the industry take concerted steps to avoid this.

According to CAPA, carriers are quickly depleting cash reserves because many flights are canceled and the rest are more than half empty. As a result, it is alleged that many airlines have already faced technical bankruptcy or substantially violated debt obligations. In particular, Flybe, the largest regional airline in Europe, crashed.

In total, according to the International Air Transport Association, carriers may lose up to $ 113 billion this year.

According to CAPA, the largest carriers in the US, China and the Middle East will survive only with government assistance or support from their owners.

Leave a Reply

Your email address will not be published. Required fields are marked *

15 − seven =