Crisis-hit airlines face crippling cash squeeze, IATA says

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© Reuters. Delta Air Lines passenger planes parked in Birmingham

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PARIS/LONDON (Reuters) – Global airlines warned on Tuesday that many carriers may not survive a record cash squeeze in the second quarter, as revenues and traffic plunge because of the crisis.

Fresh quarterly estimates suggest airlines face a $61 billion cash burn and a $39 billion net loss during the current quarter, the head of the International Air Transport Association, told a media conference call.

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“These are numbers beyond anything we have ever had in our industry,” IATA Director General Alexandre De Juniac added.

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Source: Investing.com

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