Global airlines losses to be USD 118.5 bn in 2020 and USD 38.7 bn in 2021: IATA
Global airlines’ losses will be USD 118.5 billion in 2020 and USD 38.7 billion in 2021, which are deeper than the losses forecast in June as the second half of this year has been very disappointing, said a top IATA official on Tuesday.
In June, it was forecast that the global airlines industry might lose something like USD 84.3 billion in 2020, and USD 15.8 billion in 2021, said Brian Pearce, Chief Economist, International Air Transportation Association (IATA).
Global air traffic has reduced drastically in 2020 due to coronavirus-triggered travel restrictions.
“We have been forced, due to a very disappointing second-half of this year, to downgrade those estimates. We now think that the net losses for the industry as a whole will total something like USD 118.5 billion in 2020,” Pearce said at a virtual media briefing.
