About 55% of the $123 billion in government support to air industry has put more debt on carriers’ balance sheets: IATA CEO Alexandre de Juniac and Chief Economist Brian Pearce say on weekly call.
- Only about $11b in government support has been via new equity
- Industry debt load seen rising to $550b by the end of the year from $430b in 2019
- Even airlines that had strong business models could become casualties of the pandemic due to increased debts
- IATA predicts a “number of failures” if there’s no improvement in conditions during period of air-travel restarting: Pearce
- Read more:
Latam ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.