Iata pledges continued support amid US travel ban
The Iata is urging governments to respond quickly to the financial frailty of airlines.
Dubai - Governments urged to prepare for adverse economic impacts that stringent measures will cause
By Staff Report
Published: Fri 13 Mar 2020, 9:43 PM
Last updated: Fri 13 Mar 2020, 11:45 PM
The International Air Transport Association (Iata) and its members said it continues to support governments in their efforts to contain the spread of Covid-19.
At this time of extreme pressure on the industry, the global industry body urged governments to prepare for the broad economic consequences of these actions; respond quickly to the financial frailty of airlines; and follow World Health Organization recommendations.
These calls come in response to the US government's banning of non-US citizens, and individuals who are not legal permanent residents of the US, who have been in the Schengen area in the past 14 days from entry into the United States.
"These are extraordinary times and governments are taking unprecedented measures. Safety - including public health - is always a top priority. Airlines are complying with these requirements. Governments must also recognise that airlines - employing some 2.7 million people - are under extreme financial and operational pressures. They need support," said Alexandre de Juniac, the Iata's director-general and CEO.
When taking such measures, the Iata urged governments to prepare for the adverse economic impact that they will cause. The dimensions of the US-Europe market are enormous. While the US measure recognises the need to continue to facilitate trans-Atlantic trade, the economic fallout of this will be broad.
"Governments must impose the measures they consider necessary to contain the virus. And they must be fully-prepared to provide support to buffer the economic dislocation that this will cause," said de Juniac.
Jet fuel output curbs
Meanwhile, Asian refiners may curtail jet fuel output by partially reducing processing as the fuel's value versus diesel plunged after the United States said it would ban European travellers to prevent the spread of the coronavirus.
The regrade, which is the price difference between jet fuel and diesel with a sulphur content of 10 parts-per-million, fell to a discount of $3.86 a barrel, the lowest since August 13, 2015, according to data from S&P Platts Global.