Airlines headed for $84-B net loss in 2020: IATA

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PARIS - International airlines are in line to make a combined net loss of more than $84 billion this year in the wake of the coronavirus crisis which has decimated air travel, the International Air Tr

ansport Association said Tuesday.

"The losses this year will be the biggest in aviation history, over $84 billion in 2020 and nearly $16 billion in 2021," said IATA director general Alexandre de Juniac. De Juniac said IATA research "shows that people will return to flying as soon as borders open" and carriers had to be prepared for an orderly resumption once demand returns in line with health guidelines.

He added the sector hoped that a range of safety measures including more effective mass testing would "give governments the confidence to re-open borders without quarantine measures" as "if quarantine is introduced economies are effectively kept in lockdown for the purposes of travel."

 

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