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European Union must act now - aviation industry is facing an unprecedented liquidity crisis

Download: Printable PDF Date: 04 Apr 2020 08:07 (UTC) categories:
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European Union must act now - aviation industry is facing an unprecedented liquidity crisis  - Finance publisher
Dana Ermolenko
Aircraft: Airplanes

Aviation is a strategically important sector making a vital contribution to Europe’s overall economy and employment. In light of the unprecedented COVID-19 crisis, Europeans are no longer able to travel, the vast majority of aircraft in Europe are grounded, the sale of air tickets has come to a nearly complete stop and airports across the continent have come to a standstill.

While welcoming the initiatives of the European Commission in targeted areas such as state aid, recognising that entire markets are non-functioning and urgent aid is needed -- the organisations representing all stakeholders of the air travel value chain and air transport ecosystem in Europe call for better coordinated and proactive actions to support the aviation industry and aid in its future recovery.

The European Institutions must take all the necessary measures to ensure the short-term financial viability of the travel industry enterprises with the objective of maintaining a functioning travel industry, protecting employees and consumers alike, and help them to efficiently restore air connectivity and support the re-growth of European economies.

Europe’s citizens, communities and visitors will see its vibrance restored more rapidly if the air transport sector can quickly recover, once the COVID-19 health crisis has passed. No small part of this depends on governments providing firm supportive measures today.

View the Aviation Industry Joint Statement here



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