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Trump says airline industry is "number one" in terms of needing monetary relief
President Trump discussed the devastating effect coronavirus has had against the airline industry and how the US is engaged in "war" against this pandemic.
"Well, there are certain industries that people know. I mean, airlines would be number one, if you look at what's going on. They go from having the best year they've ever had to having no passengers because of what we've had to do in order to win this war. It's a war. So you know, basically, what many of the industries are. What we want to do is we want to make sure they all stay together so that after the war is won, we can immediately go right back up to where we were and even beyond," Trump said.
An industry in peril: Global airlines stand to lose $113 billion in sales if the coronavirus continues to spread, according to the International Air Transport Association.
The losses would be similar to those experienced by the aviation industry during the global financial crisis of 2008, IATA warned as it dramatically increased its estimate of the damage caused by the outbreak. It said airlines could lose 19% of their business if the virus isn't contained soon.
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