50 million jobs in the travel and tourism industry at risk due to the global COVID-19 pandemic, warned a report from the World Travel and Tourism Council.
According to WTTC, the global travel could be adversely impacted by up to 25 per cent in 2020. This is the equivalent to a loss of three months of global travel. This could lead to a corresponding reduction in jobs of between 12 and 14 per cent.
Already, airliners have cancelled thousands of international flights as countries began to temporarily shut down airports and restricting visas.
U.S. travel curbs on much of continental Europe announced by President Donald Trump on Wednesday deepened the sector’s misery that began after the virus emerged in China late last year and reduced traffic.
American airlines said it was cutting international capacity by 34% for the summer travel season and accelerating the retirement of its Boeing 757 and 767 planes.
Cathay pacific group has grounded more than half of its fleet and slash salaries.
Air France KLM SA said on Friday that it had drawn down on 1.1 billion euros ($1.2 billion) worth of its revolving credit facility to help its financial position.
These will have an adverse impact on Pilots, Engineers, Technicians, and other airline staff in coming months.
“Travel and tourism has the strength to overcome this challenge and will emerge stronger and more robust by taking all necessary measures to tackle COVID-19 and the understandable concern which surrounds it,” WTTC said