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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Qatar- Low-carbon society possible with right policy: GECF

(MENAFN – The Peninsula) The Peninsula

Doha: The current energy saving goals and renewable energy policy in East Asia Summit (EAS) countries will contribute to reduce fossil fuel consumption as well as CO2 emissions mitigation, a senior official from the Economic Research Institute for ASEAN and East Asia (ERIA) said. 

Speaking at the Doha-based GECF (Gas Exporting Countries Forum) Monthly Lecture Series on ‘EAS Energy Outlook’ held recently, Special Advisor on Energy Affairs to ERIA President Shigeru Kimura, said that unless two of its heavyweights, the US and China, take the lead on this transformation, any shift towards the low carbon society will be inadequate. 

‘Further, seeing the ASEAN transition from 2017 to 2050, the region is actually increasing coal, increasing natural gas, and increasing oil, but the renewables only get a little bit rise. That is the ASEAN reality, Kimura said during the online lecture. 

EAS is a regional

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Qatar Airways Receives $2 Billion Government Bailout

The Qatari government has given a QR7.3 billion ($2 billion) bailout to its loss-making airline Qatar Airways, to help it through the multiple crises it is facing.

It matches the $2 billion in support the Dubai government gave to rival airline Emirates last month to help it weather the shutdown of most international air travel as a result of the coronavirus pandemic.

Like Emirates, Qatar Airways has had to deal with the healthcare emergency, but on top of that it has faced the ongoing boycott of its home country by neighbours Bahrain, Egypt, Saudi Arabia and the UAE since June 2017. That has forced the airline to cut lucrative routes to those countries

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