Business

Losses of airlines due to pandemic will amount to $157 billion

Air carriers will lose $157 billion this year and next amid the COVID-19 pandemic. The world is eagerly awaiting mass vaccinations, but this step in the fight against coronavirus will not immediately affect flights.

Losses of global airlines in 2020 and 2021 could be $157 billion due to the coronavirus pandemic. Air carriers are expected to use 1.8 billion people this year, down 2.7 billion from last year. As seen from the forecast by the International Air Transport Association (IATA), announced on Tuesday, November 24.

According to IATA, this year airlines will face a deficit of $118.5 billion, and next year their losses will be less — $38.7 billion.

The head of the association, Alexandre de June, believes that, despite progress in the development of vaccines against coronavirus, “this will have a large-scale impact on the economy and passenger traffic no earlier than mid-2021.”

He is also sure that a certain category of the population will not want to be vaccinated and therefore will refuse to travel by air. Therefore, according to June, checking passengers for COVID-19 is more important than vaccinations.

“Systematic testing is more valuable than vaccines for opening borders,” June said.



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