Embattled Asian And Global Airlines Turning To State Bailouts - Nikkei Asian Review

by asia.nikkei.com posted 4months ago 44 views
NEW YORK/JAKARTA/LONDON -- With the coronavirus pandemic clearly set to continue pummeling the global economy for an extended period of time, airlines in Asia and around the world are increasingly seeking government support for survival. As global demand for air travel remains in the doldrums with no quick rebound in sight, many airlines on the brink of going belly up desperately require such financial aid to prevent job losses and stay in business. Combined revenues of the world's approximately 290 airlines will plunge by half in 2020 from last year according to an estimate by the International Air Transport Association.

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