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Air companies to suffer 84 billion dollars of damage due to Covid-19 pandemic

Source : 112 Ukraine

The daily damage is supposed to make USD 230 million this year, - IATA
08:47, 10 June 2020

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In 2020, the world's air companies are going to take the damage in the amount of 84 billion U.S. dollars; the reason is the Covid-19 pandemic that already affected a lot of economic sectors worldwide. IATA, the International Association of Air Transport provided the forecast on Tuesday, Reuters wrote.

“Every day of this year will add $230 million to industry losses,” IATA Director General Alexandre de Juniac said.

As the flights are suspended, the IATA said revenue would likely fall to $419 billion from $838 billion last year.

The average revenue loss will make some 38 dollars per passenger.

Next year, the losses may reach the number of 100 billion dollars due to the issues related to restoring the passenger flow, and the cutting of tariffs for tickets while struggling for a customer.

Related: When Ukraine and world plan to restore air traffic?

"Passenger numbers are seen falling to 2.25 billion this year before rising to 3.38 billion in 2021, still more than 25% below 2019 levels," the news agency reports.

As is known, when the pandemic kicked off in February 2020, more than 30 air companies from Europe, Asia, and Africa restricted or ceased all sorts of flights to China where the disease spread from.

Related: Ukraine ready to resume air traffic with Azerbaijan, Bulgaria, Georgia, Turkey, Cyprus

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