Airlines Beg For Rescue As Coronavirus Hit Soars To $ 250 B

Forecast for lost 2020 airline revenue rises to $ 252 bPrevious IATA forecast was for $ 113 b in revenue losses

IATA sees airline revenues 44% lower than in 2019

Says half of companies face collapse in weeks without help

Global airlines urged governments on Tuesday to speed up bailouts to rescue the air transport industry as they doubled their estimate of 2020 revenue losses from the coronavirus crisis to more than $ 250 billion.

“We clearly need massive action very quickly and urgently,” Alexandre de Juniac, Director General of the International Air Transport Association (IATA), told reporters.