{"id":356575,"date":"2020-06-10T12:00:37","date_gmt":"2020-06-10T06:30:37","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=356575"},"modified":"2020-06-10T12:00:37","modified_gmt":"2020-06-10T06:30:37","slug":"covid-19-airlines-globally-to-report-80-billion-losses-in-2020-iata","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/covid-19-airlines-globally-to-report-80-billion-losses-in-2020-iata\/","title":{"rendered":"Covid-19: Airlines globally to report $80 billion losses in 2020: IATA"},"content":{"rendered":"<p>NEW DELHI : Airlines globally will lose over $84 billion during financial year 2020, the biggest in aviation history, due to the outspread of covid-19 and a muted travel appetite is expected to lead to at least $16 billion losses for airlines during financial year 2021, Alexandre de Juniac, director general and chief executive of industry body International Air Transport Association (IATA) said on Tuesday.<\/p>\n<p>&#8220;The losses this year will be the biggest in aviation history\u2014over $84 billion in 2020 and nearly $16 billion in 2021. By comparison, airlines lost $31 billion with the Global Financial Crisis and oil price spike in 2008 and 2009. There is no comparison for the dimension of this crisis,&#8221; Alexandre de Juniac said during a media briefing session.<\/p>\n<p>IATA expects the share of world GDP (Gross domestic Product) spent on air transport to be halved in 2020, totaling $434billion (0.5% of GDP) amidst widespread lockdowns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI : Airlines globally will lose over $84 billion during financial year 2020, the biggest in aviation history, due to the outspread of covid-19 and a muted travel appetite is expected to lead to at least $16 billion losses for airlines during financial year 2021, Alexandre de Juniac, director general and chief executive of industry body International Air Transport Association (IATA) said on Tuesday. &#8220;The losses this year will be the biggest in aviation history\u2014over $84 billion in 2020 and nearly $16 billion in 2021. By comparison, airlines lost $31 billion with the Global Financial Crisis and oil price [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[188,139,130],"tags":[],"class_list":["post-356575","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-live-mint","category-live-mint","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/356575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=356575"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/356575\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=356575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=356575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=356575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}