Airlines set to lose $118.5 bn in 2020: IATA

The International Air Transport Association (IATA) today said that the airlines are set to report a net loss of $118.5 billion for 2020, much higher than the $84.3 billion the airline body had predicted in June, as the airline body seeks reopening of countries.

The airline body also predicted that airlines will incur a net loss of $38.7 billion during 2021. The 2021 loss predictions were in the range of $15.8 billion in June.