European Airlines have so far asked their governments for €12.8bn ($14bn) in bailouts due to coronavirus lockdowns, according to data compiled in a new airline bailout tracker published today by environmental groups.
Airlines look set to be among the hardest hit by the health pandemic, with international restrictions likely to be in place months after national lockdowns are relaxed. The leaves carriers with thousands of staff to pay and hundreds of aircraft to maintain.
The UK’s EasyJet, TUI Germany, and Scandinavian Airlines have secured a combined €3.36bn in bailouts. Luton-based easyJet said 4,000 of 9,000 staff will be furloughed during April and May.
Virgin Atlantic has also asked for £550m in state support. However, the move was criticized as its Billionaire chairman Sir Richard Branson does not pay tax in the UK.
Airline companies in the US, such as American Airlines, United Air Lines and Delta Air Lines, have so far secured $25bn in bailouts from the US governments
US carriers also seek government aid
United Airlines reported first-quarter losses of $2.1bn on Tuesday, adding that it had slashed its scheduled flights by 90% for May. A day later, Delta Air Lines said when travel restrictions kicked in across the globe in late March it was burning through $100m a day, though the company said it hopes to cut that rate in half before July.
The sums European carriers have negotiated for bailouts are likely to increase as talks continue with some of the biggest European airlines, including Air France, KLM, Lufthansa, British Airways and Alitalia.
Greenpeace EU Covid-19 spokesperson Faiza Oulahsen said, “Public bailouts must come with strict conditions to protect jobs and slash the aviation sector’s soaring contribution to climate breakdown.”
However, trade body the European Airline Association argued: “Europe’s citizens, communities and visitors will see its vibrance restored more rapidly if the air transport sector can quickly recover, once the COVID-19 health crisis has passed. No small part of this depends on governments providing firm supportive measures today.”
Note: These can be testing times for individuals as well. If you’re interested in raising finance amid the pandemic, see our recommended loan providers here. You can also check the list of loan providers for people with bad credit.
Trusted & Regulated Stock & CFD Brokers
What we like
- 0% Fees on Stocks
- 5000+ Stocks, ETFs and other Markets
- Accepts Paypal Deposits
Min Deposit
$200
Charge per Trade
Zero Commission on real stocks
64 traders signed up today
Visit Now67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Available Assets
- Total Number of Stocks & Shares5000+
- US Stocks
- German Stocks
- UK Stocks
- European
- ETF Stocks
- IPO
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 Zero Commission
- NASDAQ Zero Commission
- DAX Zero Commission
- Facebook Zero Commission
- Alphabet Zero Commission
- Tesla Zero Commission
- Apple Zero Commission
- Microsoft Zero Commission
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
- Paypall
- Skrill
- Neteller
What we like
- Sign up today and get $5 free
- Fractals Available
- Paypal Available
Min Deposit
$0
Charge per Trade
$1 to $9 PCM
Visit Now
Investing in financial markets carries risk, you have the potential to lose your total investment.
Available Assets
- Total Number of Shares999
- US Stocks
- German Stocks
- UK Stocks
- European Stocks
- EFTs
- IPOs
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 $1 - $9 per month
- NASDAQ $1 - $9 per month
- DAX $1 - $9 per month
- Facebook $1 - $9 per month
- Alphabet $1 - $9 per month
- Telsa $1 - $9 per month
- Apple $1 - $9 per month
- Microsoft $1 - $9 per month
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
Share
