GENEVA, March 18 (Xinhua) -- The International Air Transport Association (IATA), the aviation industry's main global body, has called on governments worldwide to take "extraordinary measures" and "save the airline industry from financial peril" against the COVID-19 situation.
"Governments cannot take a wait-and-see approach. We have seen how dramatically the situation has deteriorated globally in a very short time. They must act now and decisively," IATA Director General Alexandre de Juniac said in a press briefing on Tuesday.
On March 5, IATA estimated that industry revenues could take a hit of up to 113 billion U.S. dollars in a worst-case scenario, without taking into consideration the massive restrictions on travel in the last few days, warned De Juniac.
He proposed three financial means -- namely direct financial support, loans or loan guarantees, and tax relief -- for governments worldwide to help the airlines resist liquidity crisis.
"In normal times, airlines transport about 35 percent of global trade. And every job in air transport supports another 24 in the travel and tourism value chain -- nearly 70 million jobs," De Juniac said.
"Prioritizing air transport -- helping airlines financially survive through these dark times -- will position the world for the eventual recovery," he added.
