IATA ups estimate of Covid 19 cost to $252 billion 

The International Air Transport Association (IATA) says there is now virtually no passenger travel in the air, only cargo and said that airlines were in an “apocalypse now” moment and the sector is facing losses of up to $252 billion from Covid 19. “There is a small and shrinking window for governments to provide a lifeline of financial support to prevent a liquidity crisis from shuttering the industry,” said Alexandre de Juniac, IATA’s chief executive. According to IATA’s latest analysis, released today, annual passenger revenues will fall by $252 billion if severe travel restrictions remain in place for three months.