Iata urges G20 to prevent irrecoverable damage to global travel – The National

Iata urges G20 to prevent irrecoverable damage to global travel – The National

Iata urges G20 to prevent irrecoverable damage to global travel. The International Air Transport Association (Iata) has urged G20 leaders to act quickly to support the aviation industry in order to prevent irrecoverable damage to international connectivity arising from the impact of coronavirus outbreak.. "While airlines have substantial expenses which are fixed and cannot be reduced, they are taking every measure possible to mitigate the cash drain by cutting avoidable costs," said Mr de Juniac.. The average two-month cash reserves held by airlines are rapidly being exhausted," he added.. Worldwide air travel demand is forecast to plunge 38 per cent in 2020, if travel limitations and border closures continue for another three months, Iata said earlier.. The industry lobby group has urged governments to act faster to rescue their airlines with financial packages.. Governments have the tools to prevent the loss of essential air transport connectivity by urgently providing, or facilitating the provision of, financial support, and some G20 members already have acted, including Australia, Brazil and China, noted Iata.. "Direct financial support, loan or loan guarantees and tax relief are all programmes that can provide both immediate and medium- to long-term assistance to the airline industry and its employees,"