COVID-19: Airlines seek aid globally amid travel restrictions and flight cuts

Booking.com

As travel restrictions are imposed and nations shut their borders to fight the deadly Coronavirus, airlines and aircraft manufacturers are bearing the burden of this economic recession.

Taiwan and Australia are emerging as the front runners in pro-actively tackling the crisis.

ALSO READ: COVID-19: In times of despair these countries test negative for virus

The Australian Government has indicated to all the airlines that it is willing to refund and waive off all charges related to the domestic air traffic control fees worth AUS $ 715 million and including $159 million in upfront.

Taiwan which had started checking Travelers for the virus since January 15, has gone a step ahead and also offered to extend loans to airlines to fight the losses.

Scandinavian nations Sweden and Denmark on Wednesday lent USD 300 million to the SAS airline.

The US is expected to ready a bailout plan for its civil aviation sector which has demanded atleast USD 60 billion.

Manufacturing major Boeing has also asked for a bailout of USD 50 billion and European major Airbus too has indicated a fall in demand.

The International Air Travel Association has warmed that airlines are starring at a loss of USD 200 billion due to coronavirus outbreak, if no government intervention is offered.

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