Asian Airlines Facing $27.8 Billion Revenue Loss from Virus, IATA CEO Says
Asian Airlines Facing $27.8 Billion Revenue Loss from Virus, IATA CEO Says.
Total global airlines losses are estimated at 70 Billion Dollars and above.
Meanwhile politicians in various countries are in meetings on Sundays, working in the Interest of the people and some are economic considerations which need immediate stimulus, without bailouts many of these airlines will be totally gone and with that gone will be the jobs.
Mismanagement in Malaysia Airlines and Air India is been blamed as well as strong arm tactics of unions who siphon all the cream before management skims off the rest leaving public purses for repeated bailouts. Some consider Air Travel as a utility which has to constantly lose money and when private companies and start ups attempt to make a profit out of these essential services, the government comes knocking for Tax.
In any case Politicians and Bureaucrats are headed into a slippery slope as witnessed with hoohala and screw ups in the coronavirus matter and with further quarantines and isolations, retail and airlines look very vulnerable and internet related business remote networking types look set to prosper.
Airlines going down one by one across the world.
[Singapore 1980]how president Lee Kuan Yew handle sia pilot strike?
Malaysia is probably in emergency meeting at the moment to discuss the fate of political leadership as well as the fate of Malaysia Airlines who one after another has been making enormous blunders like losing a plane, currently sitting to discuss Malaysian Airlines fate. This is how Singapore's Lee Kwan Yew dealt with Singapore Airlines Pilots in 1980's before the company became one of the best airlines in the world. Malaysia has always lacked proper leadership and clear determination towards change and progress, have been lucky till now.