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IATA urges Hong Kong to aid struggling airlines
The International Air Transport Association has added its voice to calls for financial assistance for airlines over protests which have crippled Hong Kong in recent months.
The global aviation trade group wants the Hong Kong government to offer some financial relief arguing the protests have caused a ‘significant impact.’
It follows a similar demand made by the Hong Kong Board of Airline Representatives last month.
The Board of Airline Representatives called for a reduction in airport fees.
"The government should consider financial relief measures to support the 330,000 jobs and 10.2 per cent of GDP dependent on the aviation and tourism sector." IATA said.
Airlines are suffering and the longer it goes on, the more drastic capacity cuts will be, IATA said in a research report.
This could lead to long term damage to Hong Kong’s standing as one of the top three air hubs in Asia.
The airport’s dominant carrier Cathay Pacific has now recorded two consecutive monthly declines of more than a third for inbound passenger traffic.
IATA called it ‘a steep decline that is almost unprecedented for major markets.’
So far Hong Kong Airport has handled about half a million less passengers this year compared to 2018.
This is despite recording growth of more than one million more passengers in the first half of 2019 before the protests started.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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