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IATA sees sharp fall in airline losses in 2022 By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – A passenger plane passes by the moon during its final approach to Heathrow Airport, London. September 12, 2019. REUTERS/Toby Melville

BOSTON MA (Reuters) – As a multispeed recovery of coronavirus from crisis begins, global airlines projected a significant reduction in industry losses for next year. But, they also increased the financial burden imposed by the pandemic in 2021 and 2020.

According to the International Air Transport Association (the industry’s largest trade organization), net losses for airlines will decrease from $51.8 billion this fiscal year to $11.6 billion by 2022.

Losses for 2021 have been revised upwards from the April estimate of $47.7 trillion. IATA revised down 2020’s losses from $126.4 billion to $137.7billion earlier.

Wilie Walsh, Director General of IATA said that the agency has reached the “deepest point” in the crisis.

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