The International Air Transport Association has called for more government action as it updated its scenario for potential revenue loss by European carriers at $76 billion. At the same time, passenger demand is projected to be 46% below 2019 levels this year. IATA is calling for a combination of direct financial support, loans, loan guarantees and support for the corporate bond market and tax relief. Aside from financial support, IATA is calling for temporary changes to the European Union’s passenger rights regulation. For one thing, it wants airlines to be able to use vouchers instead of refunds to give airlines breathing space to repair cash flows. IATA says the air transport industry is an economic engine that supports up to 12.2 million jobs across Europe and $823 billion in gross domestic product.