Airlines to post net loss of US$84 billion, compared to US$31 billion during GFC…. – : Newsflight :
Airline , June 10,2020

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Airlines are expected to record a net loss of more than US$84 billion this year in the wake of the coronavirus crisis, says IATA.

International Air Transport Association said on Tuesday (Jun 9), “Financially, 2020 will go down as the worst year in the history of aviation,”

“After US$84 billion net losses this year, we forecast supplementary losses of US$15 billion in 2021,” said IATA director general Alexandre de Juniac at a news conference.

IATA’s 290 member carriers have been affected by COVID-19 and “By comparison, airlines lost US$31 billion with the global financial crisis(GFC)and oil price spike in 2008 and 2009. There is no comparison for the dimension of this crisis.”

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