Transportation • Air Transportation & Traffic, Flying
2020-06-10T11:30:01+00:00

Airline industry expects a US$84 billion loss in 2020

Airline industry expects a US$84 billion loss in 2020
Aerial view of JFK Airport, New York Credit: unsplash.com/Miguel Ángel Sanz

The IATA's financial outlook for the global air transport industry is grim. The airline industry is expecting a record loss of US$84 billion and a net profit margin drop of 20 percent with a forecast revenue loss of 50 percent or US$419 billion. IATA's CEO and Director General Alexandre de Juniac said the industry is losing an average of US$230 million per day, calling 2020 'the worst year in the history of aviation'. Assuming there is no 'second and more damaging wave of COVID-19', de Juniac is hopeful that 'the worst of the collapse in traffic is likely behind us'.

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Card reviewed by: @ericof