Unprecedented impact on the global aviation industry to save themselves

2020-07-02 08:31:35

Latin American Mexican airlines, one of the major airlines filed for bankruptcy protection in the United States on June 30, said COVID - 19 outbreak caused to the company "unprecedented impact" on the same day, French airline plans to cut 7500 jobs by the end of 2022 the European aircraft maker airbus group issued a communique said, plans to cut about 15000 jobs worldwide from airlines to aircraft manufacturers suppliers, outbreak has triggered a series of chain reaction in the global aviation industry to get rid of the crisis, many self-help industry enterprises, at the same time actively seeking government assistance

As countries to curb the spread of chalking up travel restrictions, airlines flights grounded large area, the order has been cancelled or be delayed indefinitely, the global aviation industry hard hit by the international air transport association (hereinafter referred to as the "iata") has issued a report forecasting that in 2020, global airlines will losses of $84.3 billion, a 20.1% drop in net profit margin revenue is expected to only $419 billion, down 50% on the previous year

Iata director and CEO Alexander DE juniac says: "2020 will be the worst year in aviation history, loss of $230 million a day on average" aviation industry is a typical heavy assets, the plane was grounded means there is no source of income, but the aircraft leasing salary and bank interest depreciation and maintenance etc are must pay a fixed cost impact outbreak, there have been many airlines operating in trouble, was forced to file for bankruptcy protection

Since March 5, a veteran British regional airlines fry than went into receivership, according to incomplete statistics, the world has been more than a dozen airlines filed for bankruptcy protection, iata said the crisis will be high debt, there may be more airlines collapse as demand to reduce order cancellation, and the disease cause plant shutdown, aviation industry chain upstream aircraft manufacturers and suppliers are also hard to avoid damage to airbus 66 aircraft in the first quarter of this year the order has been cancelled, 1 to April aircraft delivery quantity is only 136, about 100 fell

Boeing worse in the United States, January and April were zero order, first quarter Boeing 196 aircraft order cancellation first-quarter net loss of $628 million, and in the same period last year net profit of $2.15 billion for out of the woods, airlines cut flights layoffs without pay furloughs bracing measures such as Australia's largest airline qantas group announced on June 25th, in response to the outbreak, the company will cut 6000 jobs, at least at the same time will also take other measures to cut costs metal shredder group on May 27, announced that from now on to the end of 2021, the French domestic flights will be reduced 40%, the number of destination will be closed even take a lot of self-help means, because of the huge losses, some airlines have to seek government assistance in the near future, for the multinational capital directly by the government to provide credit allowing companies to delay pay tax cut taxes provide wage subsidies, the aviation industry to help, for example, the French government recently announced a 15 billion euro's aviation industry rescue plan, in order to help the French aviation crisis to avoid massive layoffs  ferrous and non ferrous metals

By mid-May, iATA estimates, governments had pledged about $123 billion in financial aid to airlines