From atwonline:
Europe's airlines need state aid to cope with losses, AEA asserts
Dateline: Wednesday October 10, 2001
Assn. of European Airlines yesterday estimated that its member airlines will suffer eur2.5 billion ($2.3 billion) in losses through the end of 2001 that are directly attributable to the Sept. 11 terrorist attacks.
It urged the European Commission to permit state aid to carriers to help them cope with these loses and maintain equilibrium against US airlines that have received $5 billion in government aid and $10 billion in loan guarantees. Absent state aid to match this amount, it said, "there is a danger that the European industry will be significantly disadvantaged in the marketplace and the terms of competition between European and US carriers will be distorted." AEA also warned that 20,000 jobs may disappear as a result of the financial losses to date.