Automatically translated from Basque, translation may contain errors. More information here. Elhuyarren itzultzaile automatikoaren logoa

European airlines receive over EUR 25 billion of public money

  • Faced with the damage caused by the confinement and the pandemic to airlines, governments have handed over EUR 25 billion to them so that they do not go bankrupt. But financing problems in the sector are also foreseen in the future.

08 September 2020 - 15:14

According to a study by Scope Ratings, air traffic has fallen by at least 50% by 2020, but most Europeans have received funding from public money. In the future, however, the recovery of air traffic is expected to take place slowly. Freight transport by air has gone well, but the freight business is not enough to keep airlines and air traffic is not expected to return to pre-Covid-19 levels until at least 2024.

The three major European companies, Deutsche Lufthansa, Air France-KLM and IAG, have announced a spending cut of over EUR 4 billion in their public accounts.

 


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