Crisis-hit airlines face crippling cash squeeze: IATA

Wednesday, 1 April 2020 02:00 - - {{hitsCtrl.values.hits}}

Paris/London (Reuters): Global airlines warned on Tuesday that many carriers may not survive a record cash squeeze in the second quarter, as revenues and traffic plunge because of the coronavirus crisis.

Fresh quarterly estimates suggest airlines face a $ 61 billion cash burn and a $ 39 billion net loss during the current quarter, the head of the International Air Transport Association, told a media conference call.

“These are numbers beyond anything we have ever had in our industry,” IATA Director General Alexandre De Juniac added.

Global airlines expect crisis to persist to late 2020

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.