June passenger traffic foreshadowed the slower-than-expected recovery. Traffic fell 86.5 per cent compared to the year-ago period. That is only slightly improved from a 91 per cent contraction in May and was driven by rising demand in domestic markets, particularly China.

IATA called for a combination of direct financial support, loans, loan guarantees and support for the corporate bond market, and tax relief.

The International Air Transport Association (IATA) on Tuesday called on governments and air cargo industry to accelerate the speed of modernisation and implement global standards to accommodate the expanding demand for air cargo.