The International Air Transport Association (IATA) expected that the aviation sector will witness a sharp decrease in losses next year with the increase in recovery from the Coronavirus crisis, while it raised its expectations for the financial outcome of the sector’s losses due to the pandemic to $201 billion during the three years from 2020 to 2022.
IATA suggested that the net losses of airlines would shrink to 11.6 billion dollars in 2022 from 51.8 billion this year, which is an increase in the expectations of 2021 losses, as it was estimated at about 47.7 billion dollars in April, and the association also positively adjusted the sector losses for 2020 to $137.7 billion from $126.4 billion.
According to the association, the total number of passengers is expected to reach 2.3 billion in 2021, while it will rise to 3.4 billion in 2022, which is similar to 2014 levels and much less than 4.5 billion passengers in 2019.
In this context, Willie Walsh, IATA’s Director General affirmed during the annual meeting of the association that "we have passed the darkest phase of the crisis, and although there are serious problems that still exist, the path to recovery is beginning to emerge."
Source (Al-Arabiya.net Website, Edited)
