Airlines beg for rescue as coronavirus hit soars to US$ 250 billion

IATA, which groups some 280 airlines including most of the world's largest network carriers, said signs of a deep recession could delay a recovery in airline travel - in contrast with the fast rebound seen after previous epidemics.

That could mean "more of a U-shaped than V-shaped recovery," Pearce said, referring in the latter instance to the graph of air travel indicators seen after the SARS outbreak in 2003.
IATA says 2.7 million jobs are supported by the airline industry, with tens of thousands already being furloughed.

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"There are a very large number of airlines that are more or less breaking even and facing losses. Those airlines are very fragile," Pearce said.

IATA also appealed for exemptions to airspace closures for cargo flights, saying vital activity was at stake.

"We know that freighters are in high demand supplying essential medicines but also keeping the world working still and we are starting to see China return to work," Pearce said