Millions of jobs at risk as crisis-hit airlines call for leniency on refunds

Millions of jobs at risk as crisis-hit airlines call for leniency on refunds

Airlines are burning through their cash reserves as they try to stay afloat, IATA said, and providing refunds for canceled flights, as rules in many parts of the world require them to do, is impossible. Consumer groups are angry at airlines for ignoring those rules and say hard-up passengers need the cash just as much as the airlines.. Debt relief plea after virus piles pressure on emerging nations /node/1655086/business-economy. The economist believes some larger emerging economies might also have to ask the IMF for a bailout. PARIS: The coronavirus pandemic has piled pressure on the finances of many emerging countries, leading to calls for some debt payments to be postponed or canceled altogether.. Last month, Lebanon declared a default on debt payments, and this week Argentina said it would delay payment of almost $10 billion in debt.. In late March, the IMF and World Bank urged governments to put a hold on debt payments from the world's poorest nations so they could fight the pandemic.. Some are now calling for the Group of 20 (G20) advanced countries to declare a moratorium on debt payments, or even a cancelation of debts..