Article content

LONDON/PARIS — Global airlines urged governments on Tuesday to speed up bailouts to rescue the air transport industry as they doubled their estimate of 2020 revenue losses from the coronavirus crisis to more than $250 billion.

“We clearly need massive action very quickly and urgently,” Alexandre de Juniac, director general of the International Air Transport Association (IATA), told reporters.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Airlines beg for rescue as coronavirus hit soars to $250 bln Back to video

With planes unable to fly because of travel restrictions, compounded by a plunge in demand over fears of contagion, airlines worldwide have grounded most of their fleets, and many have said they need government support to survive.

The industry is now contemplating months without flying. Ryanair, Europe’s biggest airline by passenger numbers, said on Tuesday it did not expect to operate flights in April or May.

Many will not survive such a hammer blow to their finances. IATA said that without government support, up to half of airlines face possible bankruptcy in the coming weeks.