Airlines in Asia Pacific region to lose $31.7 billion in 2020: IATA
NEW DELHI : Airlines in the Asia Pacific region, including India, are expected to report losses to the tune of $31.7 billion during calendar year 2020, due to the covid-19 pandemic and a muted travel appetite, while losses next year are expected to narrow down to $7.5 billion, industry body International Air Transport Association (IATA) said on Wednesday.
IATA, however, expects airlines performance to improve during the second half of 2021, though the industry body expects passenger traffic to rebound to 2019-levels only by calendar year 2024.
Total capacity utilized by airlines in the Asia Pacific region is expected to fall by 55.1% during 2020, as compared to the previous year, while total number of passengers carried by airlines in the region during 2020 is expected to fall by 62% from the previous year,
