National

Covid-19: IATA agents seek bailout package for travel and tourism sector

Our Bureau Kochi | Updated on April 10, 2020 Published on April 10, 2020

IATA Agents Association of India has urged the Centre to introduce a bailout package for the travel and tourism industry.

The sector had contributed 9.2 per cent of the GDP in India and now due to the Covid-19 crisis, it is passing through a very critical phase, said Biji Eapen, National President of the IATA Agents Association of India. Quoting reports, he said 75 million jobs are at immediate risk in the global travel and tourism, of which 9 million would be from India. Currently, the travel and tourism businesses in India are forced to lay off their employees and remain apprehensive over the looming business situations, including liquidation.

The Association has urged the government to protect the salaries and jobs and extend interest-free loans as working capital to provide liquidity for large and small travel tourism businesses to resume their business. The government should also announce a moratorium on interest payments of all existing working capital loans and cash credit overdraft for next 12 months The government should also waive or remove all dues, taxes, or fiscal charges for the next 12 months that affect cash flow.

The Association is planning a nationwide signature campaign to mobilise support from the industry as the government is in the process of introducing a simulation package for the economy, he added. IAAI invited entrepreneurs, employees, other stakeholders in the sector to participate and support the campaign.

Published on April 10, 2020

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.