Airline Passenger Experience Association (APEX) has announced an expansion in its call for government action calling for a quarter-trillion dollars (USD 250 billion) of global government support for the airline industry in response to COVID-19, the company said.
APEX emphasized that both global airlines and key airline suppliers will need support to weather the COVID-19 crisis. APEX proposed that four out of every five dollars of global government support should go directly to airlines with the remaining one dollar held for airline suppliers. For the US alone, an additional USD 12.5 billion will be required by airline suppliers to successfully weather the COVID-19 crisis.
APEX alerted its members and worldwide community of the specter of a global recession and potential global depression. The economic definition of a depression includes any reduction in global GDP of more than 10%. From the effects of COVID-19, the global airline industry has already passed this critical 10% mark. To protect airlines, APEX recommended the following actions be taken by governments and organizations globally:
Airline Passenger Experience Association (APEX)is a global nonprofit and international airline association, that serves the full spectrum of the end-to-end travel experience. APEX reinvests all of its resources to serving its members, strengthening the worldwide airline industry, advancing thought-leadership, fostering business opportunities via events, developing global initiatives, setting key airline standards, and highlighting well-deserved recognition across our industry.