HomeTravelIATA Believes Airline Industry Won’t Bounce Back Until 2022
IATA Believes Airline Industry Won’t Bounce Back Until 2022
March 9, 2021
The International Air Transport Association (IATA) has announced that it does not expect the airline industry to become more solvent before 2022.
According to Alexander de Juniac, CEO of IATA, the world’s airlines are expected to consume at least $75 billion in cash by 2021, up from $48 billion in the group’s original estimates.
While de Juniac and IATA members had originally predicted a recovery in the fourth quarter of 2021, the updated study now points to losses between $7 billion and $16 billion. If travel restrictions are not lifted, the data suggests that $95 billion in cash will be burned across the industry by 2021.
It is already clear that the first half of 2021 will be worse than expected, de Juniac said. This is because governments have tightened travel restrictions in response to the new capabilities of Covid 19. Summer bookings are currently 78% below February 2019 levels.
The IATA report also notes the good news about vaccine distribution and increased testing capacity, which is forcing airlines to prioritize the retrieval and management of digital health data and ensure global standards for recording test and vaccine results.
In addition to setting global standards for recording immunization and test results with IATA’s COVID travel card, airlines must ensure that their processes are secure, interoperable with existing systems, comply with global standards and ensure data confidentiality.
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