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Browsing: Aviation sector
IATA(International Air Transport Association)
Airlines will need to cut more jobs for them to survive the pandemic crisis or face failure in the next 12 months, according to the International Air Transport Association (IATA).
Speaking during a webinar, the director-general and CEO of IATA, Alexandre de Juniac said that while the body doesn’t advocate job cuts, it may be the only way for airlines to survive.
According to the latest reports from IATA, in 2021 the global airline revenue will decrease by 46 per cent compared to 2019’s record of $838 billion, compared with previous projections of a 29 per cent drop.
The body also warned that the airline industry will burn through $77 billion in cash during the second half of 2020 (almost $13 billion/month or $300,000 per minute), despite the restart of operations.
Therefore, maintaining labour productivity levels of 2019 in 2021 will require employers to be …