PH airline industry to lose about P250 billion due to COVID-19 crisis — ACAP

The country’s airline industry stands to lose about $4.9 billion or about P250 billion until the end of the year due to the COVID-19 crisis. | DYGalvezINQ

To mitigate the losses of the industry, Lim said that it would need to “start flying again.” He added that it would be “even” if airlines are able to resume 70% of their capacities.“That’s our ability to be a catalyzer of economic activity, the moment we are able to bring people and cargo and connect the islands,” he said.

At present, there are no “large scale” layoffs in the aviation industry, Lim assured, and a subsidy from Congress would have the industry “sustained.” The airlines also would only be able to resume 20% to 30% of their original network of flights as there is currently no “consumer confidence,” he added., Ninoy Aquino International Airport in Manila, and other international airports in the country., was also suspended since last March 17 when the government imposed an enhanced community quarantine over Luzon and other areas.

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