Due to the corona crisis, many planes remain on the ground. That is why the airlines are making losses in the billions – even more than expected.
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According to their association, airlines all over the world are facing even higher losses this year and next than they had previously thought.
Because of the slump in business caused by the corona pandemic, the world aviation association IATA is now expecting an industry-wide loss of 118.5 billion US dollars (99.9 billion euros) for the current year, around 34 billion more than previously thought, as it was before his Announced the annual meeting in Amsterdam on Tuesday.
For 2021, the IATA expects a total loss of 38.7 billion dollars. That would be almost two and a half times what was predicted in June. According to the association, 2021 would be the second worst year of losses in the history of aviation.
Association relies on corona vaccine
It is true that sales in the industry in the coming year should exceed the 328 billion dollars now expected for 2020 at 459 billion dollars. However, that would still only be half as much as the 838 billion dollars from the pre-crisis year 2019.
The association hopes that rapid corona tests for travelers and vaccines against the virus will at least partially lead to the opening of the borders by mid-2021 and then to a recovery in passenger demand.