The global aviation body says it will take longer for airlines to fill planes again - revising its earlier more optimistic forecasts.
Lufthansa shares jumped as much as 20 percent after its top shareholder dropped his objections to a $10 billion government bailout.
Washington orders suspension of all flights by Chinese airlines into and out of the country after Beijing failed to allow American carriers to resume service to China, US Transportation Department says.
British no-frills airline EasyJet says it will also shrink its aircraft numbers to around 302 planes in a bid to cut costs as Covid-19 ravages global air travel.
Coronavirus pandemic has brought a virtual halt in air travel, leading to an unprecedented number of flight cancellations globally and forcing airlines to book hefty losses.
The flag carrier will fly to just 19 countries next month and gradually expand the operation to 99 countries by September, according to a draft plan.
US airlines are slashing hundreds of thousands of flights, cutting schedules by 80% or more through at least June and parking thousands of jets as demand for tickets has plunged by about 95%.
Europe's biggest budget airline plans to slash jobs, mostly pilots and cabin crew and talk to Boeing about delaying plane deliveries, top official says.
The collapse of Virgin Australia leaves the country with only one carrier, as administrators attempt to restructure the airline and get it operational again as soon as possible.
Turkey's national flag carrier to bring 25,000 citizens back to Turkey from 59 countries via 195 flights amid coronavirus pandemic.
Turkish Cargo, a division of national flag carrier Turkish Airlines, plans 155 flights per week for cargo freighters and 60 flights for passenger aircrafts being used for cargo operations in April, a statement says.
Issuing a rallying call for the aviation industry, IATA chief Alexandre de Juniac said governments needed to act decisively to support carriers as many of the companies are running out of cash.
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