https://www.thestreet.com/mishtalk/economics/83-of-passengers-will-not-return-to-old-travel-habits
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Airline For America's CEO Nick Calio said airlines could ax upwards of 90,000 workers this year as many carriers must reduce costs to survive the downturn. A muted recovery so far and waning revenues have left airlines in a precarious position - where they're quickly running out of cash. At the moment, airlines are burning through $180 million per day, with only enough cash through 1Q21.
In October, the International Air Transport Association (IATA) warned that global airlines are on track to lose nearly $130 billion this year - significantly more than June's estimates of $84 billion.
IATA has already said the virus-induced downturn has resulted in 30 or 40 airlines having failed or restructured in bankruptcy. IATA worries that airlines' revenue streams won't be enough to service existing debts.
More layoffs at GE Aviation?