According to analysis by the International Air Transport Association (IATA) the impact of COVID 19 on the aviation sector could see total debt balloon to $550 billion by the end of 2020 – a $120 billion in increase on the start of the year. According to IATA $67 billion of the new debt is composed of government loans ($50 billion), deferred taxes ($5 billion) and loan guarantees ($12 billion) while $52 billion is from commercial sources including commercial loans ($23 billion), capital market debt ($18 billion), debt from new operating leases ($5 billion), and accessing existing credit facilities ($6 billion).

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