European airlines to cut recovery outlook amid the coronavirus pandemic

European airlines lowered their recovery outlook on Thursday due to prolonged travel restrictions and concerns about the second wave of the coronavirus outbreak.

The International Air Transport Association (IATA) warned European states on imposing new travel restrictions due to new coronavirus cases.

According to IATA, European passenger numbers were expected to decline by 60% this year while 7 Million aviation and tourism jobs were at risk.

Travel demand was down by more than 50% in June while 6 to 7 Million jobs were severely affected.

“It is desperately worrying to see a further decline in prospects for air travel this year,” IATA’s Vice resident Rafael Schvartzman stated.

The United Kingdom renewed quarantine for arrivals in Belgium. On Wednesday, France recorded its highest number of new coronavirus cases since the lockdown measures were lifted.