Published 18:55 IST, April 8th 2020
IATA warns 25 million jobs in aviation industry at risk due to COVID-19 lockdown
The global aviation industry is one of the worst-hit sectors due to coronavirus lockdown imposed by half the world's countries. 25 million jobs are at risk.
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The global aviation industry is one of the worst-hit sectors due to coronavirus lockdown imposed by half the world's countries. According to a new analysis released by the International Air Transport Association (IATA), more than 25 million people are at risk of losing their jobs due to plummeting demand amid the COVID-19 outbreak. The International Air Transport Association (IATA) in the analysis pointed out that over 65 million people are dependant on the aviation industry, including sectors such as travel and tourism. Among these are 2.7 million jobs belong to the airline industry.
Out of these 25 million jobs that are at risk according to the IATA, 11.2 million jobs are from Asia-Pacific alone. 5.6 million jobs in Europe, 2.9 million jobs in Latin America, 2.0 million jobs in North America, 2.0 million jobs in Africa and 0.9 million jobs in the Middle East are at direct risk of disappearing post-COVID-19. The aviation industry is expected to report a loss of nearly $252 billion in 2020, the estimation of passenger revenues only. According to reports, airlines from across the world are calling on their government to help. In the United States, the aviation industry had requested a $50 billion bailout package from the administration.
The IATA has also called on various state governments to provide direct financial support, loans, loan guarantees and support for the corporate bond market, tax relief to airlines. "There are no words to adequately describe the devastating impact of COVID-19 on the airline industry. And the economic pain will be shared by 25 million people who work in jobs dependent upon airlines. Airlines must be viable businesses so that they can lead the recovery when the pandemic is contained. A lifeline to the airlines now is critical," said Alexandre de Juniac, IATA’s Director General and CEO in a statement.
Coronavirus outbreak
The deadly coronavirus infection has claimed nearly 83,000 lives across the world and has infected over 14,46,000 people globally since it first broke out in December 2019. China was the most affected country until last month before Italy, Spain, the United States, the UK, France and Iran surpassed it to record the most number of deaths anywhere in the world. The virus is believed to have originated from a seafood market in China's Wuhan city, the epicentre of the disease, where animals were reportedly being traded illegally.
(Image Credit: AP)
19:05 IST, April 8th 2020