Maritime logistics players openly defy Shipping Ministry order on waiving charges

The International Air Cargo Association (TIACA) urged policymakers to exclude freight movement from any restrictions to the need to preserve its continued existence and viability. Air freight is important in the ongoing Covid-19 pandemic crisis for the shipment of fuel, vital needs and health-related goods. The world economy still requires air freight for companies and manufacturers to start providing.

Maritime logistics players openly defy Shipping Ministry order on waiving charges

Indian airlines and associated industries could see revenue losses at the pace of Rs 1122.1 crore because there is a decrease of 47 percent year-on-year (YoY) increase in passenger demand. The International Air Transport Association (IATA) published an revised review of the Covid-19 crisis on Friday, revealing that. The apex body also estimated this failure could cost more than 29.32 lakh citizens jobs.

Latest IATA forecasts have suggested a decline in the Asia Pacific area. Airlines in Asia Pacific will see the highest drop in sales of US$ 113 billion in 2020 compared to 2019 (-US$88 billion in an estimation of 24 March) and a 50% fall in passenger traffic compared to 2019 (-37% in an estimation of 24 March). “Such forecasts are focused on a scenario of extreme travel restrictions that continue for three months, with a gradual easing of domestic sector restrictions, accompanied by national and intercontinental restrictions,” the apex body said.

Src: thehindubusinessline.com

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