Dhaka: As the global aviation industry has been hit hard by the coronavirus pandemic, 29.32 lac aviation jobs are likely to be at risk in India during the year 2020.
A report by the International Air Transport Association (IATA) states that India would be the worst hit in terms of job losses in the aviation sector among the Asia Pacific countries, with a likely impact on 29,32,900 jobs.
The report further stated that the sector may face a revenue loss of USD 11,221 million this year. Also, the passenger demand is likely to fall by 47 per cent, it added.
Conrad Clifford, Regional Vice President for Asia-Pacific, IATA said that airlines in the region face a liquidity crisis with a USD 61 billion cash burn in the second quarter of 2020.
He stated, "We have seen the first airline casualty in the region. There will be more casualties if governments do not step in urgently to ensure airlines have sufficient cash flow to tide them over this period."
Clifford classified India, Indonesia, Japan, Malaysia, the Philippines, South Korea, Sri Lanka and Thailand as priority countries that need to take action.
The industry body expects that due to the COVID-19 crisis global airline passenger revenues would drop by USD 314 billion in 2020, a 55 per cent decline compared to 2019.
The airlines in the Asia Pacific will see the largest revenue drop of USD 113 billion in 2020 compared to 2019. The passenger demand in the region is likely to fall by 50 per cent.
IATA said these estimations are based on a scenario of severe travel restrictions lasting for three months, with a gradual lifting of restrictions in domestic markets, followed by regional and intercontinental.
Clifford noted that providing support for airlines has a broader economic implication as jobs across many sectors will be impacted if airlines do not survive the COVID-19 crisis. Every airline job supports another 24 in the travel and tourism value chain, he added.
"In Asia-Pacific, 11.2 million jobs are at risk, including those that are dependent on the aviation industry, such as travel and tourism," said Clifford.
IATA has called for combined measures including direct financial support, loans, loan guarantees and support for the corporate bond market and tax relief.
The commercial flight services in the country remain suspended till May 3 amid the nationwide lockdown to restrain the spread of coronavirus infections.