IATA, Qatar Airways CEO Warn Of More Bankruptcies, Plea For More Government Aid

KEY POINTS

  • At least 485 airplanes have been idled this year
  • Qatar Airways, posted an all-time high loss of $1.9 billion for fiscal 2020
  • IATA warned that the airline industry will plough through $77 billion in cash in the second half of this year

While more than 40 commercial airliners have already collapsed this year due to the COVID-19 pandemic lockdown, some aviation officials warn more bankruptcies are looming.

Concerned with fears of a second wave of COVID-19 infections around the world, the CEO of Qatar Airways said things will get grimmer for the airline industry.

“The worst is not behind [us],” Akbar Al Baker told CNBC. “There will soon be other bailouts in Europe, there will be other collapses around the world. Because of the second wave, I think it is … even more severe than in the first wave.”

Data travel company Cirium said that not only have

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