The European airports body, Airports Council International Europe, said on Tuesday, that nearly two hundred airports on the continent will face insolvency in the months to come if passenger traffic doesn't begin to recover by the end of 2020.
An estimated 193 airports considered "at risk" are mainly smaller regional ones with fewer than five million travelers each year.
An ACI spokesperson told Reuters that closures of the hubs will have a significant impact on local jobs.
Larger European airports are also burning through cash at an unsustainable rate.
The association said that the top 20 European hubs added almost 19 billion U.S. dollars of debt the equivalent of nearly 60% of their revenue in a normal year.
ACI Europe represents over 500 European airports used by paying passengers.