Can We Give Airline Financial Relief to Protect Their Jobs?

Airline Financial Relief

Airports Council International (ACI) World and the International Air Transport Association (IATA) have today come together to call for governments to quickly grant airline financial relief to assist airport operators and airlines during the unprecedented COVID-19 crisis and support the essential connectivity the industry will provide for economic recovery.

The industry’s airline financial relief is united with governments around the world in efforts to stop the spread of the virus, and, in the face of massive government imposed travel restrictions, the industry is doing all it can to maintain air cargo operations vital to supporting global supply chains, including medical shipments critical to fighting COVID-19.

The economic impact of these measures on all involved in the global air transport industry has been severe. With passenger demand plummeting to unprecedented levels, revenues are falling beyond the ability of even the most extreme cost-cutting measures to mitigate. Airports and airlines continue to face a financial liquidity crisis and require airline financial relief bail out for the industry to survive

The current state of the global air transport industry risks the loss of millions of jobs. The aviation industry supports 65.5 million jobs around the world, including 10.5 million people employed at airports and by airlines, and supports $2.7 trillion in world economic activity^[1]. As the COVID-19 pandemic continues to unfold, airports and airlines around the world are engaged in a battle to sustain essential operations and to preserve jobs.

ACI and IATA are calling for urgent balanced support to the industry via:

taxation relief, including alleviation of payroll taxes, corporate taxes, concession fees or other government incomes from the industry
loans, loan guarantees or direct support to maintain financial liquidity across the aviation ecosystem.

Some governments have recognized the urgency of airline financial relief action but time is running out for other governments to provide the necessary financial relief to keep the whole industry viable and ready to support a balanced recovery including ground handlers and other service providers at airports.

“The financial impact of the current crisis is unlike anything we have ever seen and requires urgent action by governments to assist the aviation industry to protect jobs, ensure essential operations, and plan for recovery,” ACI World Director General Angela Gittens said. “Urgent tax relief and direct financial assistance that is to the benefit of the entire aviation ecosystem is needed to help preserve millions of jobs, protect essential operations, and foster a balanced recovery. Preserving the continuity of operations for airports and airlines and protecting aviation jobs today will result in a faster economic recovery tomorrow.”

IATA’s Director General and CEO Alexandre de Juniac said the situation could not be more dire.

“Governments will depend on aviation to be ready to lead an economic recovery when this pandemic is behind us,” Mr. de Juniac said. “Governments must act now with financial lifelines that only they can provide for airlines and airports to see them through these extraordinary times. Airlines and airports are in this together. The more financially stable our airport partners are, the more they can help the industry to drive a recovery in air travel that will jump start the global economy.”

Watch Live Stream & Real Time Statistics of COVID-19

[youtube https://www.youtube.com/watch?v=SLV1B5Lzy48]

Other COVID-19 Updates

COVID-19: SOCIAL IMPACT

GineersNow Distributes PPE to Medical Workers

Israeli Cured COVID-19 Patients Using Placenta

COVID-19: HARVARD BUSINESS SCHOOL

Harvard Talks: Engineering Leaders Will Engage in Teaming

Harvard Talks: Forward-Thinking Engineering Leaders

Harvard Talks: Engineering Operation Impact of COVID-19

Harvard Talks: 7 Leadership Principles in the Time of COVID-19

Harvard Talks: Engineering Work Culture After COVID-19 Pandemic

Harvard Talks: 7 Leadership Principles in the Time of COVID-19

Harvard Talks: Cut Salaries or Cut People?

Harvard Talks: The Supply Chain in Post COVID-19 Era

COVID-19: WORLD HEALTH ORGANIZATION

WHO Preparedness and Response to COVID-19

WHO Q&A: COVID-19 and Influenza Comparison

COVID-19: CONSTRUCTION

Construction Force Majeure During COVID-19

Converting Existing Building to COVID-19 Hospital – WHO Guidelines

WHO COVID-19 Buildings & Tents Screening Layout Standards

Wellness Glass Walls by The Sliding Door Company to Help Combat COVID-19

COVID-19: HVAC

Ventilation Standards for Buildings Converted to COVID-19 Hospitals

Air Filtration for COVID-19 Treatment Centers

ASHRAE on COVID-19 HVAC Concerns

COVID-19: ENERGY

Oil Price Crashes Below $0 per Barrel

Coronavirus will accelerate the growth of renewable energy solutions

COVID-19: ECONOMIC IMPACT

COVID-19 Economic Impact Analysis

COVID-19 Economic Aftermath on the Construction Industry

Postponed Exhibitions in the Philippines due to COVID-19

Cancelled Major Events Around the World Due to COVID-19

World Bank Gives $12 Billion to COVID-19 Affected Countries

COVID-19: VENTILATORS, TESTING & PPE

UCLA Biodesign Fellow Focuses Biomedical Engineering Insights on Swabs Shortage

Here’s the Tesla Ventilator Prototype

Lamborghini Medical Shields & Surgical Masks for Health Workers

UCLA Engineer Made a Ventilator from Hardware Items

Forecast Deaths, Hospitals & Ventilators: COVID-19 Impact, USA Full Report

Top 10 Largest Ventilator Manufacturers in the World

Metronic Ventilator Ramping Up Production

Engineers, Can You Help Build a DIY Ventilator for Hospitals?

PPE Shortage Endangering Health Workers Worldwide

COVID-19: STATISTICS & FORECASTS

COVID-19 Deaths to Reach 81,000 in US By June – Forecasts by IHME & Univ. of Washington

List of Government Officials Tested Positive in PH

COVID-19 War: 70K Physicians vs 109M Filipinos

Famous People Who Have Tested Positive for COVID-19

These Politicians Tested Positive for Coronavirus (COVID-19)

COVID-19 Philippines: DOH on Code Red Status

COVID-19: SCIENCE

COVID-19 Treatment: The Search Continues

Complete List of Companies Working on Coronavirus Vaccine

Tiger Tests Positive for Coronavirus at New York Zoo

COVID:19: PREVENTION TIPS

How to Create a COVID-19 Proof Workplace

Work From Home Tips for Engineering, Industrial & Tech Companies

Water is Our First Line of Defense Against COVID-19

The List of COVID-19 Disinfectants Approved by EPA

COVID-19: TECHNOLOGY

How Artificial Intelligence Can Drive Greater Speed and Accuracy in Vaccine Development

Cyber-Criminals are Exploiting People’s Fears of COVID-19

COVID-19: MARKETING