Aviation companies' loss estimated to be 118.5 in 2020, $ 38.7 billion in 2021: IATA

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IATA chief economist Brian Pierce said the second half of 2020 was a disappointment. In June, aviation companies were projected to lose $ 84.3 billion in 2020 and $ 15.1 billion in 2021.


New Delhi The loss of aviation companies globally is estimated at $ 118.5 billion in 2020 and $ 38.7 billion in 2021. A top official of the International Air Traffic Association (IATA), a global organization of aviation companies, said on Tuesday that it was worse than anticipated in June.


IATA chief economist Brian Pierce said the second half of 2020 was a disappointment. In June, aviation companies were projected to lose $ 84.3 billion in 2020 and $ 15.1 billion in 2021. Global air traffic has decreased drastically in 2020 due to travel restrictions imposed due to the Coronavirus epidemic.

"The second half of the current year has been very disappointing," Pierce said at a virtual press conference. Because of this, we are forced to lower our estimates further. The total loss to the aviation industry in 2020 is estimated at $ 118.5 billion.