Iata has predicted 5.6 million jobs and $378 billion in GDP will be at risk if European carrier’s passenger demand is 46% of that in 2019.

It has predicted the UK specifically will have 113.5 million fewer passengers, resulting in $21.7 billion revenue loss and risking almost 402,000 jobs.

This is more bleak than the outlook for Spain, Germany, Italy and France. 

 
Iata is asking European governments for tax relief, loans, guarantees, support for corporate bonds, and a temporary amendment to the EU261 regulation, which puts stringent rules on passengers refund rights.

“Governments must recognise the vital importance of the air transport industry, and that support is urgently needed,” said Rafael Schvartzman, Iata’s regional vice-president for Europe.

“Firstly, this will keep airlines financially viable during the present lockdown, preserving jobs, maintaining essential connections to repatriate citizens, and carrying life-saving air cargo supplies.

“Secondly, this would avoid broad economic damage by ensuring that airlines can rapidly scale-up operations when travel restrictions are lifted, jump-starting the European and global economies.”