• Home
  • Business News
  • Weekly Reviews
  • Market Reports
Sunday, May 18, 2025
  • Login
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
No Result
View All Result
Home Industries

Close to 5 Million to Lose Jobs in Aviation if Governments Don’t Offer Relief

Trading Room Reporter by Trading Room Reporter
in Industries
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter

The International Air Transport Association (IATA) and the International Transport Workers’ Federation (ITF) are warning that 4.8 million workers in the aviation sector could lose their jobs without states’ intervention as the COVID-19 crisis takes a toll on air travel.

RELATED POSTS

Carrefour Launches Kenya’s First Self-Checkout Service.

Lufthansa Cancels over 1,000 Flights Over Ground Staff Pay Dispute

AfDB Extends Kes. 7.3 Billion Fertilizer Subsidy to Kenya.

According to IATA, border restrictions and quarantine measures being deployed by various governments to contain the coronavirus pandemic has seen demand for air travel fall more than 75% in eight months to August this year compared to the same period last year.

As a result, the crisis has effectively closed down the aviation industry, grounding planes and leaving infrastructure and aircraft manufacturing capacity idle.

“Aviation faces an unprecedented employment catastrophe. Airlines have cut costs to the bone, but have just 8.5 months of cash left under current conditions. Tens of thousands of jobs have already been lost, and unless governments provide more financial relief, these are likely to increase to the hundreds of thousands,” said Alexandre de Juniac, IATA’s Director General and CEO.

Flag carrier Kenya Airways which was operating five weekly flights on the Nairobi-New York route before the coronavirus outbreak in March announced on 31st October 2020, the postponement of scheduled flight resumption on the route to 29th November 2020 on account of increased ticket cancellations.

The surge in COVID-19 and fear of the deadly second wave in various countries have seen a rollback of some restrictions which could further dent air travel going into next year.

“Aviation plays an essential role in connecting nations and carrying essential cargo, and it is in governments’ own interests to offer further financial aid to keep the industry viable. But more importantly, governments need to work together to safely re-open borders. That means putting in place a global scheme for testing passengers for COVID-19. With that in place, quarantine can be removed and passengers can have the confidence to fly again,” Juniac added.

Buy JNews
ADVERTISEMENT

Kenya was among the first countries to deploy health safety measures targeting the aviation sector before opening its airspace for domestic and international flights on 1st August 2020.

“The global aviation industry is in a state of prolonged crisis. By the end of the year, almost 80% of wage replacement schemes will run out, without urgent intervention from governments we will witness the biggest jobs crisis the industry has ever seen,” warned Stephen Cotton, ITF’s General Secretary.

According to Statista, airlines worldwide have received government aid amounting to $161.9 billion as of September 2020.

Post Views: 1,007
Tags: African AirlinesCorona Virus PandemicGlobal Economy
Previous Post

Six Kenyan Startups Among 25 Finalists on AfDB Agripitch Competition

Next Post

Market Report; 11 November,2020

Trading Room Reporter

Trading Room Reporter

Related Posts

Carrefour
Featured

Carrefour Launches Kenya’s First Self-Checkout Service.

by Githere Eddie
Lufthansa Verdi
Industries

Lufthansa Cancels over 1,000 Flights Over Ground Staff Pay Dispute

by Flora Oluoch
AFDB
Industries

AfDB Extends Kes. 7.3 Billion Fertilizer Subsidy to Kenya.

by Githere Eddie
Ghana
Industries

Four (4) Common Pastimes in Ghana

by Felix Ochieng
Next Post
NSE Nairobi Securities Exchange STOCK MARKET

Market Report; 11 November,2020

U.S Markets Surge as Investors Bid on Techs, Oil Ends Trade Higher.

KCB Group CEO Oigara

KCB Group Posts 43% Decline in Net Earnings for 3rd Quarter at Kes 10.9 Billion

Advertisement Banner Advertisement Banner Advertisement Banner
ADVERTISEMENT

Most Viewed Posts

  • Tea Farmers Set to Receive Kes 28 Billion as Final Bonus Payment (4,098)
  • 4 Things You Can Do With the Cashlet App to Achieve Your Financial Goals (2,189)
  • Hilda Njeru Takes over at CDSC (2,056)
  • Safaricom Finally Launches eSIM: Here’s What You Need to Know (1,899)
  • KenGen Gets Nod to Sell 4 Million Tonnes of Carbon Credits (1,798)

Follow Twitter

About Us

Follow Us

Popular Tag

Africa Asian - Pacific Stocks Asian Stock Markets Australian Stocks Bitcoin Bonds Kenya Bonds Trading in Kenya Brent Brent Crude Capital Markets Authority Central Bank of Kenya Corona Virus Pandemic Crude Oil Cryptocurrencies Derivatives NSE Derivatives Trading in Kenya Dow Jones Industrial Average Ethereum European Stock Markets Global Economy Global Markets Hang Seng Index Investing in Kenya Investor Briefing Jakarta Stock Exchange Kenya Economy Kospi index MSCI Index Nairobi Securities Exchange NASDAQ New York Stock Exchange Nikkei N225 NSE Oil Futures S&P 500 Index Safaricom Plc Shanghai Composite Shenzhen component spotlight Stock Market Report Stock Market Review U.S. Stock markets US oil Wall Street WTI Oil Index

Recent News

Equity Group Africa Guarantee Fund

Equity Group Receives 500Mn from AGF in MSMEs Financing Deal

Image of workers of NSE discussing Market report

NSE Market Report 11 April 2025: Britam moves 15.1 Million Shares

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 The Trading Room Limited.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
TSLA 
$349.98  2.09%  
GME 
$28.45  0.63%  
MSFT 
$454.27  0.25%  
AAPL 
$211.26  0.09%  
AMC 
$2.95  4.98%  
ABNB 
$138.00  0.88%  
GOOGL 
$166.19  1.36%  
AMZN 
$205.59  0.20%  
No Result
View All Result
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports

© 2025 The Trading Room Limited.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?