The coronavirus pandemic will push the airline industry to record annual losses of $84.000 billion as 2020 becomes the “worst year in aviation history,” the world’s leading industry body warned on Tuesday.
The International Air Transport Association (IATA) said in an updated forecast that it expects passenger traffic to rise 55% in 2021 from this year's level, although it will remain 29% below its 2019 level.
As the recovery of air travel gathers pace in parts of the world, airlines are counting the cost of weeks of shutdowns, mounting debt and a diminishing outlook for future demand.
“Financially, 2020 will be the worst year in the history of aviation,” said IATA Director General Alexandre de Juniac.
The agency estimated an additional $15.800 billion in losses to the industry in 2021, bringing the total to around $100.000 billion in losses largely attributable to the pandemic, as traffic recovery remains well below pre-crisis levels and airlines are cutting fares to win back customers.
IATA, meanwhile, urged governments to refrain from quarantine measures that would prevent most travel, arguing that safety measures on board, including mandatory mask-wearing, are adequate.
"These measures should give governments the confidence to open borders without quarantine measures," said De Juniac.
Source: Reuters
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