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2021 net airline industry losses to narrow down: IATA

Global airline industry's net losses are expected to narrow down in 2021, the International Air...

👤 H K Badal22 April 2021 2:35 PM GMT
2021 net airline industry losses to narrow down: IATA
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Global airline industry's net losses are expected to narrow down in 2021, the International Air Transport Association (IATA) said.

IATA expects net airline industry losses of $47.7 billion in 2021 - an improvement on the estimated net industry loss of $126.4 billion in 2020, Indo-Asian News Service reports.

In terms of revenue, IATA expects the industry to earn a total $458 billion which would be 55 per cent of the $838 billion generated in 2019 but represents 23 per cent growth on the $372 billion generated in 2020.

Besides, IATA said that travel restrictions, including quarantines, have reduced demand.