Airlines to Lose $84-B and One Million Jobs in 2020

The International Air Transport Association, which represents 290 airlines, is forecasting the world’s airlines will lose over 84 billion dollars and one million jobs this year.

Last week, United Airlines, one of the big three in the US, warned its staff it may have to cut 36,000 jobs because of the huge fall in demand for air travel.

Helane Becker, managing director and senior research analyst at investment firm Cowen said given “the continuing issues surrounding the pandemic” she expects US airlines to cull up to 200,000 of their 750,000 staff this year.US aviation unions are pushing the federal government to add to the 25-billion-dollar bailout package it has provided so far.

As part of the conditions for receiving state help, airlines have to protect jobs until the end of September.

An IATA spokesman said the scale of job cuts in the aviation sector “shows the severe economic crisis facing the industry and all who depend on air connectivity.”

Source: https://www.bbc.com/news/business-53369463

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