Conrad clifford - Latest News Update, Information, Photos & Videos on Conrad clifford at Lokmat Times

Airlines in India are likely to suffer a revenue loss of 11.2 billion dollars this year leading to 2.9 million jobs at risk as passenger demand falls by 47 per cent due to COVID-19 crisis, the International Air Transport Association (IATA) said on Friday.The latest estimates from IATA indicate a worsening of the country impact from coronavirus pandemic and travel restrictions in the Asia Pacific region.On April 14, IATA released an updated analysis showing that the COVID-19 crisis will see global airline passenger revenues drop by 314 billion dollars in 2020, a 55 per cent decline compared to 2019.Airlines in the Asia Pacific will see the largest revenue drop of 113 billion dollars in 2020 compared to 2019 (minus 88 billion dollars in March 24 estimate) and a 50 per cent fall in passenger demand compared to 2019 (minus 37 per cent in 24 March estimate).These estimates are based on a scenario of severe travel restrictions lasting for three months with a gradual lifting of restrictions in domestic markets followed by regional and intercontinental."The situation is deteriorating. Airlines are in survival mode. They face a liquidity crisis with a 61 billion dollars cash burn in the second quarter," said Conrad Clifford, IATA's Regional Vice President for Asia-Pacific."We have seen the first airline casualty in the region. There will be more casualties if governments do not step in urgently to ensure airlines have sufficient cash flow to tide them over this period," he said in a statement.Clifford identified India, Indonesia, Japan, Malaysia, the Philippines, South Korea, Sri Lanka and Thailand as priority countries that need to take action. In India, passenger demand in 2020 is estimated to fall by 47 per cent to 89.7 million.IATA called for a combination of direct financial support, loans, loan guarantees and support for the corporate bond market, and tax relief."Providing support for airlines has a broader economic implication. Jobs across many sectors will be impacted if airlines do not survive the COVID-19 crisis," said Clifford."Every airline job supports another 24 in the travel and tourism value chain. In the Asia Pacific, 11.2 million jobs are at risk, including those that are dependent on the aviation industry such as travel and tourism," he said.Airlines continue to perform an important role currently with the transport of essential goods including medical supplies and the repatriation of thousands of people stranded around the world by travel restrictions.And after the COVID-19 pandemic is contained, governments will need airlines to support the economic recovery, connect manufacturing hubs and support tourism, said Clifford. "That's why they need to act now -- and urgently -- before it is too late."( With inputs from ANI )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Conrad CliffordFOLLOW

Conrad clifford, Latest News

International :Unruly passenger incidents increased in 2022 as compared to previous year: IATA

Istanbul [Turkey], June 5 : The International Air Transport Association (IATA) released a new analysis showing an increase in ... ...

Health :Open air travel for inoculated passengers: IATA

New Delhi, July 24 International air travel should be opened up for at least fully vaccinated air passengers, ... ...

Business :$29 billion loss expected for Asia Pacific airlines this year: IATA

Airlines in the Asia Pacific region will be the hardest hit by COVID-19 crisis with losses expected to be 29 billion dollars for 2020, the International Air Transport Association (IATA) said on Monday. ...

Business :Airlines in India to suffer $11.2 billion revenue loss, 2.9 million jobs at risk: IATA

Airlines in India are likely to suffer a revenue loss of 11.2 billion dollars this year leading to 2.9 million jobs at risk as passenger demand falls by 47 per cent due to COVID-19 crisis, the International Air Transport Association (IATA) said on Fr ...