Tag: The International Air Transport Association

The global airline industry’s debt could rise by $120 billion to $550 billion by year-end, with the coronavirus pandemic wreaking havoc in the sector. An International Air Transport Association (IATA) analysis showed that $67 billion of the new debt is composed of government loans ($50 billion), deferred taxes ($5 billion) and loan guarantees ($12 billion). Another $52 billion is from commercial sources including commercial loans ($23 billion), capital market debt ($18 billion), debt from new operating leases ($5 billion) and accessing existing credit facilities ($6 billion). “Government aid is helping to keep the industry afloat. The next challenge will be ... Read more

The International Air Transport Association (IATA) has slammed the Indian government for announcing a stimulus package that had virtually nothing for the country’s struggling aviation industry. The international airline lobby found it disappointing that the Indian government’s Rs 20 lakh crore relief package for industries, ignored aviation. “Compare that to the $123 billion in government financial aid announced around the world, including $26 billion in the Asia Pacific region,” said Alexandre De Juniac, director general, IATA in a webinar organised by CAPA India. Juniac said that there is likely to be a 47% decline in passengers carried by India’s airlines ... Read more