International commercial aviation representative body the International Air Transport Association (IATA) published a new analysis on March 31 that indicated that the world’s airlines would, during the second quarter of this year, suffer a total net loss of $39-billion. They would also expend $61-billion of their cash reserves over the same three-month period (ending on June 30). The main assumption behind this analysis was that the strict travel conditions now in force around the world, to counter the Covid-19 pandemic, would continue for three months. Should this be the case, air passenger transport demand would collapse by 71% during the second quarter. (The final result would be a 38% drop in demand for the whole year.)