Our Bureau The global airline industry is expected to post a loss of $39 billion during the second quarter, the International Air Transport Association (IATA) said on Tuesday.
A recovery for the global airline industry to pre-2019 levels is unlikely before the fourth quarter of this year or till 2021, said Brian Pearce, IATA’s Chief Economist.
Addressing a global media teleconference, he said that the cash burn during the second quarter in the global airline industry is likely to be around $61 billion. The global airline industry is also looking at around $35 billion in ticket refund for flights that have been cancelled of which $10 billion is estimated to be in Europe alone, he added.
