29 lakh jobs in Indian aviation and dependent sectors likely to be hit due to COVID-19: IATA

The International Air Transport Association (IATA) in its latest estimation based on a scenario of severe travel restrictions lasting for three months, with a gradual lifting of restrictions in domestic markets, followed by regional and intercontinental predicted that the Indian aviation sector among the Asia Pacific countries would be the worst hit as close to 29.32 lakh jobs are likely to be at risk in the sector during 2020. The report also said that the revenue of the sector in India may fall by $11,221 million this year compared to 2019. Further, passenger demand is likely to fall by 47 per cent in the country.

Conrad Clifford, IATA’s Regional Vice President for Asia-Pacific, said that airlines in the region face a liquidity crisis with a $61 billion cash burn in the second quarter of 2020.