David Huttner, senior aviation expert at PA, discusses imminent airline failures and job losses due to the COVID-19 pandemic.
The article reports that airline leaders have warned of imminent failures and wholesale job losses which could come into effect at the start of this week.
Speaking at the Airlines 2050 Summit on Monday, Airlines UK chief executive Tim Alderslade warned: “All airlines are, in effect, bankrupt. We’ll see failures. It’s just a matter of time, depending on balance sheets. We know the clock is ticking.
“If we don’t get a test regime in place and the government is not forthcoming with money, we’re going to see airlines go out of business.”
Commenting on this, David says: “There are going to be failures. But we also see parties willing to take opportunities if debts can be restructured.” He cited the deal to resurrect Flybe, announced by the carrier’s administrators on Monday.