Airlines are set to lose $84 billion as the coronavirus pandemic reduces revenue by half to mark the worst year in the sector's history, the International Air Transport Association (IATA) forecast on Tuesday.
PARIS - Airlines are set to lose $84 billion as the coronavirus pandemic reduces revenue by half to mark the worst year in the sector’s history, the International Air Transport Association forecast on Tuesday.
“Every day of this year will add $230 million to industry losses,” IATA Director General Alexandre de Juniac said.In 2021, IATA warned losses could hit $100 billion as traffic struggles to recover and airlines slash fares to win business. Passenger numbers are seen falling to 2.25 billion this year before rising to 3.38 billion in 2021, still more than 25% below 2019 levels.
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