Audio By Carbonatix
The International Air Transport Association (IATA) has requested airports to suspend the rules governing airport slots immediately and for the entire 2020 season due to the spread of the coronavirus (COVID-19).
At present, the rules for slot allocation mean that airlines must operate at least 80% of their allocated slots under normal circumstances. Failure to comply with this means the airline loses its right to the slot the next equivalent season.
In exceptional circumstances, regulators can relax this requirement. The COVID-19 crisis has had a severe impact on air traffic which has necessitated the action.
The negative impact the virus has had on airlines according to IATA included:
- A carrier experiencing a 26% reduction across their entire operation in comparison to last year
- A hub carrier reporting bookings to Italy down 108% as bookings collapse to zero and refunds grow
- Many carriers reporting 50% no-shows across several markets
- Future bookings are softening and carriers are reacting with measures such as crew being given unpaid leave, freezing of pay increases, and plans for aircraft to be grounded.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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