Without government help, coronavirus will bankrupt most airlines by May.
The coronavirus pandemic will cause most airlines worldwide to fail by the end of May unless governments and the industry take coordinated measures to avoid this fate.
Some have probably been brought into technical bankruptcy or have already violated debt alliances substantially, while carriers are running out of cash reserves because their planes are on the ground and those that are flying are half empty.
Most major couriers from the United States, China and the Middle East are likely to survive thanks to government help or the support of their owners. Couriers could face up to $ 113 billion in lost revenue this year, according to the International Air Transport Association.
Airlines have been the main victims of the pandemic epidemic since the coronavirus has blocked air traffic. Carriers from American Airlines Group Inc. to Qantas Airways Ltd. in Australia have reduced capacity, while some like Swedish SAS AB have temporarily laid off most of the staff. Flybe, Britain’s largest low-cost regional airline, is on the verge of bankruptcy again. Flybe has declared insolvent and around 2000 jobs are at risk.
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