Global airlines face bankruptcy by May if governments don’t intervene, warns aviation consultant

Global airlines face bankruptcy by May if governments don’t intervene, warns aviation consultant

Airlines are flying into one of the bloodiest weeks for the industry, as they battle to survive travel restrictions and country lockdowns in the face of the coronavirus crisis. The escalating coronavirus crisis could bankrupt most of the world's airlines by the end of May unless they get help from governments and the industry, an aviation consultant has warned.. "Demand is drying up in ways that are completely unprecedented," Sydney-based consulting firm CAPA Centre for Aviation said in a report on Monday.. "Coordinated government and industry action is needed - now - if catastrophe is to be avoided, CAPA warned. ". The grim prognosis comes in one of the bloodiest weeks for airlines, which are fast running out of cash as hundreds of thousands of fleets are grounded as they battle to survive travel restrictions and country lockdowns that have engulfed the industry in crisis.. On Monday, British Airways owner IAG, easyJet and Ryanair withdrew earnings guidance as they announced mass groundings of aircraft and thousands of layoffs to cope with the escalating crisis of COVID-19.. Johan Lundgren, easyJet Chief Executive added: "European aviation faces a precarious future and it is clear that coordinated government backing