Republican leaders in the U.S. House joined a growing appeal to the Department of Treasury to release Payroll Support Program (PSP) funding to small carriers.
The Coronavirus impact on the aviation Industry
Concerned that Part 135 operators are still having a hard time obtaining payroll support program (PSP) aid from the December Covid-19 relief bill, the National Air Transportation Association (NATA) urged U.S. Treasury secretary Janet Yellen to ensure that the remaining funds get distributed promptly.
With the one-year anniversary of the declaration of Covid as a pandemic this week, global business aviation activity is down just 2 percent year-over-year, according to industry data provider WingX. It said business aviation accounted for a larger percentage of all fixed-wing traffic thus far in 2021 at 19 percent, compared with 12 percent in the same period last year.
Wednesday’s final passage of the $1.9 trillion American Rescue Plan is bringing much-needed relief as the aviation industry inches toward recovery, industry groups agree.
Singapore Airlines will become the world’s first airline to fully deploy the International Air Transport Association’s Travel Pass mobile application for digital health verification, starting with passengers flying from Singapore to London from March 15 to 28. The pilot marks the second phase of SIA’s digital health verification process trials, based on the IATA Travel Pass framework.
The House of Representatives is expected to vote tomorrow on final passage of the $1.9 trillion American Rescue Plan, clearing the way for up to $26 billion in aviation relief aid and billions more in other loans and grants that could assist the industry. Approved by the Senate on Saturday, the American Rescue Plan now returns to the House for final passage.
While 2020 was an “epically challenging year” for the industry as a result of Covid-19, NBAA president and CEO Ed Bolen stressed to lawmakers on Tuesday that the aviation community must press forward on issues such as infrastructure for emerging technologies, workforce, and sustainability to be on a stronger footing once the pandemic eases.
Global traffic figures for January showed that air cargo demand surpassed levels registered in January 2019, marking a complete recovery from the effects of the Covid-19 crisis, the International Air Transport Association (IATA) reported on Tuesday. January figures also showed strong month-to-month growth over December 2020 levels, increasing more than 3 percent on robust manufacturing output, said IATA.
A new financial analysis by the International Air Transport Association (IATA) shows that the group severely underestimated cash burn estimates for airlines this year and that the industry as a whole will remain “cash negative” through 2021. No longer expecting airlines to return to breakeven cash flow by the fourth quarter, IATA now sees a cash burn range of between $75 billion and $95 billion, compared with a November 2020 estimate of $48 billion.
During the NBAA virtual Flight Operations Conference on February 23, flight department managers and medical experts shared useful information for operating safely during the Covid-19 pandemic and how vaccines may help towards a return to normal operations.