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Jordan’s national carrier mulls request for tax breaks after June to cope with coronavirus lockdown adverse effects

Jordan’s national flag airline has enough cash to keep head over water until June but will apply for government tax break to address adverse effects of the lockdown imposed by authorities to curb the spread of the novel covid-19 disease, the airline’s Chief Executive Officer (CEO) has said.
“I don’t think it’s time to talk about losses, but to talk about cash preservation to survive,” chief executive officer Stefan Pichler said in an interview to Bloomberg.
“We can last for a couple of months.”
Pichler also told the US media that Royal Jordanian doesn’t plan to ask the government for cash. Royal Jordanian according will only seek tax breaks and payment deferrals.
As most countries around the world, the Middle East kingdom has grounded all its airlines and put a near halt to commercial traffics as part of measures to stem contamination from the disease.
The industry could burn through $61 billion in the second quarter alone, Bloomberg quoted the International Air Transport Association as saying.

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Posted by on Apr 20 2020. Filed under Finance, Headlines. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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