India’s carriers are in grave danger of insolvency in the wake of the COVID-19 pandemic, according to the International Air Transport Association (IATA).
The current industry crisis is much worse and more widespread than 9/11, SARS or the global financial crisis, IATA Director General and CEO Alexandre de Juniac said flagging the issue to Prime Minister Narendra Modi.
“Prior to the outbreak, India‘s air transport industry’s economic contribution was estimated at $35 billion, supporting 6.2 million jobs and contributing 1.5 per cent to the GDP in India.
However, COVID-19 has led to the destruction of air travel demand on an unprecedented scale,” he said in a letter to Modi.
