European airlines will suffer the biggest losses in 2021

IATA experts believe that next year European airlines among the regions of the world will suffer the most. Their total losses could be nearly $12 billion. At the same time, losses to the global aviation industry will amount to $38.7 billion. By the end of this year, they will exceed $118 billion.

According to IATA forecasts, in 2020, the indicator that estimates passenger traffic in Europe will decrease by 70%. In other regions of the world, the drop in passenger traffic will be more significant.

Thus, in Africa, it will decrease by 72%, and in the Middle East — by 73%. Next year, the share of European airlines in the total global air traffic will amount to only 47.5%. At the same time, the share of airlines in the Asia-Pacific region will reach 50%, and the share of North American countries — 60.5%.

IATA previously stated that 2020 would be the worst year in the history of global aviation. The  pandemic has devastated the global aviation industry.

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