The Covid crisis has challenged the global airline industry to fight for survival in 2020, the International Air Transport Association (IATA) said this week. It added that the industry’s huge losses will continue into 2021.
“This crisis is devastating and unrelenting. Airlines have cut costs by 45.8 percent, but revenues are down 60.9 percent. The result is that airlines will lose $66 for every passenger carried this year for a total net loss of $118.5 billion. This loss will be reduced sharply by $80 billion in 2021. But the prospect of losing $38.7 billion next year is nothing to celebrate,” said IATA Director General and CEO Alexandre de Juniac.
Continue reading https://on.rt.com/avwa