The International Air Transport Association on Tuesday warned that airlines are on track to lose nearly $130 billion this year — significantly more than the group’s June estimate of $84 billion — because of the coronavirus crisis, and that the aviation and travel sectors will be crippled for a long time unless governments increase financial aid.
The trade association said member carriers will burn through $77 billion in cash during the second half of 2020, almost $13 billion per month, despite...
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