Global aviation will lose more than 200 billion USD

Global aviation will lose more than 200 billion USD

IATA estimates that global airlines will lose 201 billion USD in the period 2020 - 2022 because travel restrictions have not been eased.

This information has just been announced by the International Air Transport Association (IATA) at its annual meeting in Boston on October 4. This loss blew away the industry's 9-year performance.

IATA predicts losses for carriers this year will be close to $52 billion, worse than the $48 billion posted in April. Last year's losses were adjusted from $126 billion to about $138 billion. Firms predict an additional $11.6 billion in losses next year.

The US is poised to open its borders to transatlantic travelers next month. However, other long-haul markets remain in the doldrums, especially those connecting Asia with Europe and North America.

"The extent of the Covid-19 crisis with airlines is huge. People have not lost the need to travel as we see in the solid resilience of the domestic market. But they are International travel is hampered by restrictions, uncertainty and complexity," said IATA Director General Willie Walsh.

To aid recovery, Walsh called on governments to simplify complicated travel restrictions and allow vaccinated travelers to move freely between countries. "Travel restrictions gave the government time to respond in the early days of the pandemic. That logic no longer exists after almost two years," Walsh said.

IATA projects an expected average passenger load factor of around 67% this year. That number will rise to 75% by 2022 – still lower than the record 83% set in 2019.

Cargo flying continues to be the bright spot, with demand this year expected to be 8% higher than 2019 levels, rising to more than 13% in 2022 amid a surge in cargo volumes as suppliers operate. return and consumers promote online purchases.

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