World Airlines to Lose More than USD 250 Billion in 2020 Due to Coronavirus

The world's air transporters will lose USD 252 billion this year due to coronavirus, the International Air Transport Association (IATA) estimates.

– The airline industry faces its gravest crisis – said IATA's Director General and CEO, Alexandre de Juniac.

He invited governments to help: – without immediate government relief measures, there will not be an industry left standing – he added.

The crisis has struck 98% of passenger traffic in the world, according to the data of the IATA, which specifies that an average airline has money left for two months only.

Due to the coronavirus pandemic, airlines have practically discontinued all flights, and they asked for help of USD 200 billion last week.

The IATA gathers 290 companies which carry out 82% of the air traffic in the world.

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International Air Transport Association

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Covid 19

airline losses