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If the governments of the different countries do not inject money quickly into the airlines, half of them will not survive the crisis. And we are talking about a universe of more than 300 carriers, which operate more than 24,000 planes worldwide.
Alexandre de Juniac, CEO and head of the International Air Transport Association (IATA – International Air Transport Association), Nor does he blink, in an interview with the Canadian online channel RC Webdiffusions, when he states that “it is absolutely urgent that already announced or promised financial support reaches companies quickly.” And, he adds, “there must be significant and generous support, otherwise at the end of this health crisis, half of the companies will no longer exist.”
No matter how, you have to deposit money
When asked if these financial supports could translate into nationalizations, Juniac neither confirms nor denies, and says that they can be of the most varied forms: capital injection; loan; grant; pre-guarantees; whatever.
And he says that in several countries there are already good examples of what state support should be for the agony of airlines at this absolutely critical moment. This is the case in the United States, France, Australia, the United Arab Emirates, China, Singapore and also Norway, “where there have already been very significant state interventions.”
Three to five years until aviation returns to normal.
As for the Airbus estimate, which points to three or five years until the aviation sector returns to pre-Covid-19 crisis levels, Juniac does not commit to the dates, only saying that the IATA estimate is so that, at the end of this year, there is a 60% drop in air traffic compared to 2019.
The CEO of IATA recalls that, in addition to the direct effects of the health crisis in the sector, which can force airplanes to transport fewer people at a time and with measures to control the temperature and wear a mask, etc., We must also count also on the economic impact that the crisis is having on people’s lives, decapitalizing them and pushing millions of people into unemployment.
Coupon is recommended instead of reimbursing the cost of trips already purchased
For those who already had purchased tickets, Juniac considers that it is more difficult, now, a massive return of money, “because we are at the heart of the crisis and the companies are not in financial conditions to be able to do it, although they can do it for customers needier. “However, remember that a scenario is being prepared in which a coupon is assigned to each passenger, with a value equivalent to that of the trip purchased, which can be used up to a period of 12 to 15 months.
For those who do not accept this alternative, there is also the possibility of reimbursement within a period of nine to 12 months.
