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Some 95,300 people in Israel risk losing their jobs if air travel continues to be suspended due to the COVID-19 pandemic, the International Air Transport Association (IATA) warned on Sunday.

Like many countries around the world, Israel suspended air travel following the outbreak of the disease that has now killed more than 464,000 people globally.

IATA says Israel’s aviation industry will need financial assistance to withstand the turbulence caused by the disruption of air travel.

“Airlines in Israel are suffering an unprecedented collapse in revenues, and in order to preserve air connectivity, it’s vital that Israel follow the lead of many other governments and provide financial assistance to the industry,” said Rafael Schvartzman, IATA’s Regional Vice President for Europe.

The association said the shutdown of air travel means that passenger numbers to and from Israel will decline by 13 million (55%) in 2020 and airline revenues will fall by US$3.2 billion. The wider impact on Israel’s economy is estimated to be around US$8.3 billion.

IATA urged the Israeli government to emulate measures taken by other governments that offered financial packages to their carriers.

Countries that have provided financial support to their national carriers include France, the U.K., Germany and Singapore.

IATA however warned airlines against increasing service costs as that would have a negative impact on the sector’s recovery post-COVID-19.

The association urged the Israeli government to look at other ways of tackling the pandemic that did not require a shutdown of the aviation industry.

“Quarantine measures are a huge impediment to a recovery in air traffic. Our latest passenger survey shows that 83% will not travel if a quarantine is in place. Therefore, if the Israeli government is looking to restart the economy, it needs an alternative risk-based solution,” said Schvartzman.