Airline Association Fears Even Higher Losses from Corona

In view of the violent second wave of the corona pandemic, the international airline association IATA expects even higher losses than before.

For this year and next, the International Air Transport Association (IATA) forecast a total deficit of $ 157 billion. In June, the lobby estimated a shortfall of $ 100 billion for 2020 – now it is assuming $ 118.5 billion in year one of the pandemic and another $ 38.7 billion in year two. A recovery in business due to corona vaccines, which are due to hit the market soon, will only become noticeable in mid-2021, said IATA General Director Alexandre de Juniac.

According to the IATA forecast, airlines worldwide have to expect a drop in passenger numbers of 60 percent to 1.8 billion. The turnover in passenger air traffic will drop by 69 percent to 191 billion dollars. The lobby predicts 2.8 million passengers for 2021. Air freight is not hitting the Corona crisis so hard: The increased prices due to scarce capacities limit the decline in sales to a minus of 15 percent or just under 118 billion dollars.

The airline lobby will meet on Tuesday for its annual general meeting via video conference. Willie Walsh, who until recently was head of the British-Spanish airline group IAG, is to be chosen as the successor to de Juniac, who plans to resign in March.

Reviewer overview

Airline Association Fears Even Higher Losses from Corona - /10

Summary

0 Bad!