The aviation organization IATA expects a loss of more than half, but still dire figures, for the aviation industry this year.
The loss for the full year is estimated at $47.7 billion, equivalent to 400 billion kronor, according to a press release. This corresponds to a negative profit margin of 10.4 percent on a total turnover of 458 billion dollars. This can be compared with the estimated loss for 2020 of 126.4 billion dollars, 2.65 times as much as what is expected this year.
The situation for airlines is described as continuing to be tough, and it is emphasized that airlines have not managed to cut their costs to the same extent as revenues have fallen - something that the quarterly report from United Airlines expressed on Tuesday, when the US company's shares became a jumbo on Wall Street.
At the same time, IATA's outlook points to the recovery starting in the latter part of 2021. According to the organization, optimism prevails in some markets, even though continued travel restrictions continue to dampen the "strong underlying demand" for international travel.
IATA, which is the airline industry association and is tasked with safeguarding the interests of its members, urges governments to have travel plans in place so that the sector can restart when borders can reopen.
Source:Finwire-DI
