Airlines see Covid-19 setbacks driving industry to $48bn loss ...Qatar

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The airline industry’s chief lobby group widened its estimate for losses this year by about a quarter, saying new Covid-19 flare-ups and mutations have pushed back the timeline for a restart of global air travel. Carriers will lose about $48bn in 2021, the International Air Transport Association said on Wednesday in an online presentation. It had earlier forecast a $38bn deficit. “This crisis is longer and deeper than anyone could have expected,” said Willie Walsh, the former chief of British Airways owner IAG SA, who’s now IATA’s director general. “Losses will be reduced from 2020, but the pain of the crisis increases.” The downward pivot comes as airlines contend with new travel bans and

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Last updated : 21 April 2021 clock 09:46 PM

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Airlines see Covid-19 setbacks driving industry to $48bn loss ...Qatar

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