Airline industry headed for US$84 billion net loss in 2020: IATA

PARIS: International airlines are in line to make a combined net loss of more than US$84 billion this year in the wake of the coronavirus crisis which has decimated air travel, the International Air Transport Association said on Tuesday .

"After US$84 billion net losses this year, we forecast supplementary losses of US$15 billion in 2021," he added, revealing the extent to which its 290 member carriers have been affected by COVID-19 and the ensuing global lockdown designed to limit its spread. Airline passenger traffic is expected to rise 55 per cent in 2021 from its depressed level this year, while still remaining 29 per cent below its 2019 level, IATA said in an updated forecast.

"The outlook is challenging to say the least. But aviation is a resilient industry," De Juniac added."With a globally harmonised and mutually recognised approach to the restart measures, we can rebuild the confidence of travelers and kick-start the recovery in aviation and more broadly.

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