Airline industry revenues are expected to remain 46 per cent lower in 2021 than the $838 billion booked in the last pre-coronavirus year of 2019, industry body IATA said Tuesday in a marked worsening of its forecasts.
Its previous outlook for a smaller drop of 29 per cent “was based on expectations for a demand recovery commencing in the fourth quarter of 2020.”
That is now unlikely to materialise because of renewed Covid-19 outbreaks and government restrictions in response, said the federation representing 290 airlines.
Over the full year in 2020, IATA forecasts a 66-per cent drop in traffic compared to last year.
