The global airline industry will lose US$ 84 billion in 2020 and then an additional US$ 15 billion in 2021, according to a new forecast from the International Air Transport Association (IATA). The Montreal-based Association said the demand for air cargo and travel will rise sharply in 2021 – but passenger travel will still be nearly 30 percent lower than in 2019.
“By comparison, airlines lost US$ 31 billion with the global financial crisis and the oil price spike in 2008-2009. So there’s no comparable to the dimension of this crisis,” Alexandre de Juniac, IATA’s Director General and CEO, said in a press conference.
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