The International Air Transport Association (IATA) has warned that the economic fallout from the pandemic may not be over for European airlines.
IATA predicts a $23.1 billion loss for the European airline industry in 2020, with passenger demand declining by half, putting up to 7 million jobs at risk in Europe alone, reports the CNN.
Air traffic remains much lower than last year and the recovery is going to be very slow despite a slight upturn since a low point in April, IATA said on Thursday.
It is not far-fetched to say that the worst might be yet to come," said Rafael Schvartzman, IATA's vice president for Europe.
IATA repeated its calls for a coordinated response from European governments as countries begin to open their borders. The group also called for continued financial support for the industry.
The association reiterated that quarantine measures were damaging for airlines, adding that 70 percent of people in France, 76 percent in Germany and 83 percent in the UK will not travel if they remain in place, according to a survey.