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New Delhi, April 24
The coronavirus pandemic is expected to affect more than 29 lakh of jobs in Indian aviation and dependent industries, global airline group IATA said on Friday. Commercial flight services in the country remain suspended until May 3 amid the national blockade to curb the spread of Covid.
29 LAKH jobs at risk
Passenger traffic has decreased 47 percent. The revenue impact of airlines operating to and from the Indian market is expected to be $ 11.221 billion (more than Rs85 billion rupees). IATA wants financial support for the airline industry.
‘DA insensitive cut’
Instead of suspending the bullet train and central sight projects, the government cut the DA from central government staff, pensioners, and soldiers. This is a very callous decision.
Furthermore, the pandemic and the subsequent blockade have significantly impacted economic activities, with aviation and tourism among the most affected segments.
The International Air Transport Association (IATA) said its latest estimates indicate a worsening situation in many countries in the Asia-Pacific region. On India, he said the pandemic is expected to potentially affect 29,32,900 jobs in the country’s aviation and its dependent industries. Passenger traffic has decreased 47 percent.
In addition, the group noted that the impact on the revenue of airlines operating to and from the Indian market would be $ 11.221 billion (more than Rs 85 billion rupees). This refers to the drop in passenger revenue compared to 2019.
IATA is a grouping of almost 290 airlines, including Air India, Vistara, IndiGo and SpiceJet. “The airlines are in survival mode. They are facing a liquidity crisis with a $ 61 billion cash burn in the second quarter, “said Conrad Clifford, regional vice president of IATA (Asia-Pacific).
According to him, India, Indonesia, Japan, Malaysia, the Philippines, the Republic of Korea, Sri Lanka and Thailand are priority countries that must take action. In addition, the cluster required a combination of direct financial support, loans, loan guarantees, and support for the corporate bond market and tax relief for the airline industry. “Providing support to airlines has a broader economic implication. Jobs in many sectors will be affected if airlines do not survive the Covid crisis. Each job at an airline supports another 24 in the travel and tourism value chain. “In the Asia-Pacific, 11.2 million jobs are at risk, including those dependent on the aviation industry,” he said. – PTI
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