Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Travel slump threatens 46 million jobs, aviation group says

Published 30/09/2020, 13:05
Updated 30/09/2020, 13:17
© Reuters. Empty sunbeds are seen at Nissi Beach in the resort of Ayia Napa

PARIS (Reuters) - The impact of the coronavirus on travel may cost as many as 46 million jobs globally, according to projections published on Wednesday by an aviation industry group.

The Air Transport Action Group (ATAG) predicted that the travel slump and a slow recovery will threaten 4.8 million aviation workers and more than half of the 87.7 million total jobs supported directly or indirectly by the sector, in related leisure industries and supply chains.

"We know that a lot of jobs in air transport and the wider economy relying on aviation are at risk," said Michael Gill, who heads the group representing airlines, airports, aircraft makers and other sector players.

The warning came after airlines cut their 2020 traffic forecast amid renewed coronavirus outbreaks and travel restrictions that darkened the outlook. ATAG said its findings drew on research by forecaster Oxford Economics.

Airlines are pressing governments to abandon quarantines and other travel curbs blamed for worsening the slump, and instead roll-out rapid COVID-19 testing at airports.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.