Up to 25 million jobs could be lost worldwide due to the global travel slump.

That's according to the International Air Transport Association.

The estimate comes after global air travel fell 70% at the start of the second quarter.

In Europe it's even worse, with about 90% of flights not operating.

IATA says government support is needed urgently to stop carriers running out of cash.

Lufthansa may be just the latest to make its own arrangements.

Reuters sources say the German airline is hoping to raise large sums on debt and equity markets.

It's already held talks with Berlin over aid including loans from the state development bank.

The company will also shut down its low-cost unit, Germanwings.

That's a move unions view with alarm and suspicion:

(SOUNDBITE) (German) UFO GERMAN CABIN CREW UNION SPOKESMAN, NICOLEY BAUBLIES, SAYING:"This is a clear case of abuse of the corona crisis to push through a decision which was made long ago. They want to set an example to say 'if you don't obey you'll end up like Germanwings' which in fact has nothing to do with the situation at Germanwings. They can't do this at the expense of 1,400 people. They have to speak to their people and everybody has to go through this crisis together."

Other airlines have already raised money.

In March Singapore Airlines secured up to $13 billion underwritten by state fund Temasek.

Meanwhile Reuters sources say Air-France KLM is in talks over loans of up to $6.5 billion guaranteed by the French and Dutch governments.

Some investors see opportunity in the sector right now though.

Malaysia Airlines could be set for a takeover.

Private investor Golden Skies Ventures has bid $2.5 billion to take control of the ailing state carrier.

Despite the global crisis for the industry, it says it can return the company to profit within three years.