Airlines face a long, hard winter after a much hoped for rebound from the coronavirus crisis failed to materialise, prompting savage cost cutting programmes and fresh calls for government support.
“We are in a race against time. The key thing is to have the cash… we need to move quickly, very quickly,” said Stephane Albernhe, managing partner at Archery Strategy Consulting.
Airline revenues plunged 80 percent in the first six months of the year, according to industry body IATA, but they still had fixed costs to cover — crew, maintenance, fuel, airport levies and now aircraft storage.
