Fri. Mar 29th, 2024
Image of a plan flying into a sunset-filled skyImage Source: Science| HowStuffWorks

The global airline-lobbying body, IATA (International Air Transport Association), stated that it found the lack of relief for the aviation industry in the AatmaNirbhar plan, disappointing.

The fact that the Rs 200 lakh crore package contained no direct financial relief disappointed IATA. Especially considering that worldwide, over $123 billion worth of aid has been announced for the aviation industry. In fact, the Asia Pacific region itself pledged over $26 billion.

IATA urged the Indian govt to pledge support to Indian airlines. IATA also wished for announcements of direct-aid financial packages for airlines, with measures that could help raise equity financing.

Countries around the world have supported their aviation industries by deploying packages, grants or rebates. India, however, has grossly underperformed.

IATA predicts that Indian airlines will lose more than $11 billion in revenue this year. Further, India will lose 47% of its air traffic, and over 3 million people will lose their jobs.

Airlines are trapped in a no-revenue system since the government announced a complete lockdown of the country, due to COVID-19. However, airlines resumed operations on Monday, after various curtailment orders from both, the Centre and the States.

Both airlines and passengers currently continue to grapple with new rules for further business and flight restrictions.

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