The global airline industry will burn through $77 billion in cash during the second half of 2020 despite the resumption of flight services amid the coronavirus pandemic, said International Air Transport Association (IATA).
“The slow recovery in air travel will see the airline industry continuing to burn through cash at an average rate of $5 to $6 billion per month in 2021. The cash drain continued during the summer months, with airlines expected to go through an additional $77 billion of their cash during the second half of this year and a further $60-70 billion in 2021. The industry is not expected to turn cash positive until 2022,” said IATA in a press release.
