IATA: Median airline has 8.5 months of cash remaining at current burn rate

IATA reported (04-Nov-2020) its analysis shows that without additional government financial relief, the median airline has just 8.5 months of cash remaining at current burn rates. IATA stated that with around 50% of airlines' costs are fixed or semi-fixed, the industry has not been able to reduce costs at the same rate as revenues have fallen. Based on a sample of 76 airlines, airlines cut operating costs in 2Q2020 by 48% year-on-year, compared with a 73% decline in operating revenues. [more - original PR]