Global airline industry seen losses of $84 billion in 2020 – IATA

The global airline industry is expected to incur losses worth $84 billion in 2020 and then an additional $15 billion in 2021, according to a new forecast for the International Air Transport Association (IATA).

IATA said the demand for air cargo and travel will surge sharply in 2021 — but passenger travel will still be around 30 percent lower than in 2019.

“By comparison, airlines lost $31 billion with the global financial crisis and the oil price spike in 2008-2009. So, there’s no comparable to the dimension of this crisis,” Alexandre de Juniac, IATA’s Director General and chief executive, said in a press conference.