By Emmie V. Abadilla With bankruptcy looming in a couple of months, local airlines have officially sought government assistance, not "handouts," to access working capital and restart their operations via guaranty schemes (not cash) for their creditors, emergency credit lines for six months, longer term facility to restructure their debts and full waiver of all navigational and airport charges until year-end 2020. In last week's letter to the Cabinet, the local aviation sec¬tor's umbrella organization, the Air Carrier's Association of the Philippines (ACAP) made the request as they face an "existential threat" to their survival, with most airlines worldwide expecting to be bankrupt by May, 2020, due to the impact of the Covid-19 pandemic. ACAP members include Philippine Airlines (PAL), Cebu Air Inc. (Cebu Pacific), Air Philippines Corp. (PAL Express), Cebgo Inc. (Cebgo) and Philippines Air Asia Inc. (Air Asia). The ACAP member airlines have cancelled 30,000 flights, affecting five million passengers, with no revenue flow expected for immediate future after the government locked down Luzon for over two weeks now. ACAP Vice Chairman Roberto C.O. Lim stated the association's four-pronged request in a letter dated March 25, 2020 to Transportation Secretary Arthur P. Tugade, Tourism Secretary Bernadette Fatima T. Romulo-Puyat, National Economic and Develop¬ment Authority Secretary Ernesto M. Pernia and Trade Secretary Ramon M. Lopez. Overall, Asia-Pacific airlines can lose some US$88 billion in passenger revenues alone due to travel restrictions imposed because of the pandemic. ACAP did not quantify their estimated revenue losses or the peso amount of the state intervention package they are requesting. However, they underscored they are not seeking a handout at the expense of Filipino taxpayers. But inasmuch as the airlines' ability to earn is frozen, they are asking the government to provide, not cash, but a guaranty scheme for bank loans and credit lines, most of which are secured by collaterals anyway. Airlines need relief on their current working capital credit lines. Because of the pandemic, banks have tightened credit and cut off access to undrawn lines even without default on payments. Secondly, ACAP members need emergency lines of credit good for six months or longer. This should enable them and their support industries, such as maintenance, ground handling and catering, to restart operations once the lockdown is lifted until passenger demand recovers. Thirdly, the airlines require a longer term facility at attractive rates or a guaranty facility so they can restructure their debts to a more manageable level and give them leverage to negotiate better terms from aircraft lessors, banks and creditors. Lastly, local airlines are asking for a full waiver of all navigational and airport charges, including airport office rentals and land leases, until the end of December, 2020.