The airline industry is warning that it must shed jobs and obtain state support to survive the coronavirus crisis, as carriers around the globe grounded the majority of their fleets and took steps to conserve cash. It looks like there will be a lot of lay-offs in the coming days in some airlines. “By the end of May 2020, most airlines in the world will be bankrupt. The Finnish airline warned of a substantial financial loss this year and was working urgently on a funding plan including credit lines, loans and the sale and leaseback of aircraft. Alison Roberts, chief executive of the industry group, said carriers faced a situation that was much more serious than the global financial crisis in 2008.

Source: The Irish Times March 16, 2020 17:37 UTC