Airports Council International (ACI) World has stated that it expects the airport sector’s revenue to fall by $77bn this year due to the ongoing global Covid-19 pandemic.
Passenger traffic is expected to plummet by almost 40%, the global trade representative of the world’s airport authorities said.
ACI noted that the crisis will continue to have far-reaching economic impact on the industry, which will extend to the second half of the year.
In response to the crisis, ACI has released a policy brief that outlines the key measures needed for the recovery of the airport industry.
To ensure that the airport industry sustains the crisis, the association recommended the protection of airport charges and revenue.
It also suggested immediate tax relief to ensure the continuity of operations and to safeguard airport jobs.
In addition, ACI recommends the postponement of airport rents and concession fees in the form of a one-time measure for a defined period.
Worldwide suspension of slot usage requirements, until 30 June 2020, is another measure put forward by ACI to ensure that airports can recover from the crisis.
ACI World director general Angela Gittens said: “Airports are important engines of economic growth, wealth creation and employment and the Covid-19 pandemic’s effect on the industry and broader economy has halted the airport industry at global level.
“The relief measures that have been put forward will ensure that financial assistance does not benefit one part of the industry over another in the aviation ecosystem so that a balanced, global recovery can be created.”
Earlier this month, ACI said that the pandemic may decrease passenger traffic by around two-fifths and revenue by half this year.